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Home Bio/Med/Pharma

Boon Industries (OTC Pink: BNOW) Skyrockets 714% After Announcing its Certified GMP Processing Facility is Up and Running with $78 Million Annual Capacity

by admin

March 17, 2022

in Bio/Med/Pharma

Boon Industries OTC BNOW GMP Facility BioDox Spotlight Growth

Boon Industries, Inc. (OTC Pink: BNOW) is engaged as a specialty bioscience company, which is focused on the development, distribution, and marketing of DiOx+ and BioDox, a chlorine dioxide disinfector sterilizer. Chlorine dioxide is an approved sterilizer by the Occupational Safety and Health Administration (OSHA), the Food and Drug Administration (FDA), Environmental Protection Agency (EPA), and the Department of Transportation (DOT). Shares of the bioscience company shot up over 714% during trading on Thursday, March 17, 2022. Over the past thirty days, Boon Industries has seen average daily volume of around 38.54 million shares. However, volume of 1.38 billion shares or dollar volume of around $7.87 million, exchanged hands during the day’s trading session.

Shares of Boon Industries skyrocketed after the company announced certified Good Manufacturing Practice (GMP) production facility in Grass Valley, CA has been completed and is now operational. The facility will have the capability to produce a thousand gallons of its BioDox and DiOx+ product each day. Management notes that this gives the facility an annual capacity of producing $78 million worth of its products before additional expansion of the facility would be needed. The BioDox product is a concentrated formula that can be purchased by the quart for $89 or by the gallon for $229.

Furthermore, management stated that its acquisition costs and ratio of establishing now customers is an impressive 1:2. Furthermore, a majority of customers are said to be repeat buyers. Its recent GMP certification is believed to be a catalyst for continuing to grow and expand its customer relationships.

Justin Gonzalez, Chairman of Boon Industries, stated, “The agriculture markets allow Boon to generate sales as a 25(b) product while waiting for EPA approval for other applications, and Boon is currently developing sales in these markets. We believe our current success in the agriculture industry will be relative to the pending EPA compliant industries such as medical, hospitality and warehousing that as the Company accomplishes these compliance milestones we will continue to see an increase of revenue from larger distributors for our products as we expand into new markets.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/