December 17, 2013

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SCIO DIAMOND TECHNOLOGY

Scio Diamond Technology is a company deeply rooted in values. We believe in making the best possible products for our customers and in making their buying experience a true pleasure. Scio cultured diamonds will become an important component of the diamond jewelry market. In technology and industrial applications, we believe that diamond will become the operating system and wear-resistant material of choice. We also believe in the talents and character of our employees and in our responsibility to the communities in which we live and work. We believe that Scio Diamond Technology, its employees and its customers can and will make a difference in our world.
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Scio Diamond Announces Joint Venture for Gemstones

September 17, 2013 By

GREENVILLE, SC, Sept. 17, 2013 /PRNewswire/ - Scio Diamond Technology Corporation (OTCBB: SCIO) (hereinafter “Scio” or the “company”) today announced that it has entered into product specific Joint Venture Agreement to produce Type lla, Single Crystal CVD diamond for a specific gemstone market.

Scio Diamond has signed a Joint Venture agreement as the technology and delivery provider and has teamed with two partners who bring more than 75 years collective experience in the gemstone industry giving the consortium financial strength while allowing the production to be vertically integrated.

The joint ventures’ facility will be located in China, and will be initially fitted out with 100 Scio designed diamond-growing reactors as well as support equipment, such as lasers operation and HPHT pressing machines. The facility will have the capability to expand to 400 diamond-growing reactors over the next 2 years. Scio’s current production technology has the produces 32,000 plus rough carats of diamond annually with its 10 growers. This is greater than a 50% improvement over 1-year ago. The Joint Venture will be employing the next level of technology at its outset, which will increase production by an additional 50%.

Scio is providing its patented CVD Diamond Technology to the Joint Venture through a licensing agreement that provides Scio with both an equity position and licensing revenues. Scio’s partners are responsible for providing the Joint Venture funding as well as associated technologies. “This venture affirms the acceptance of Scio’s technology platform and our proven ability to mass produce quality diamond, by two of the industry leaders in their respective fields”, says Michael McMahon, Scio’s CEO.

The new entity is estimated to begin producing diamond in the summer of 2014. “This is a significant time in the history of Scio Diamond”, said McMahon. “We have spent our first year of operations focused on the mass-production of high quality diamond, which has now been recognized”.

“The partners of Scio Diamond in this venture are showing by their investment, relationships and experience that they have tremendous confidence in this approach. The three of us have worked on this deal since April of this year”, as we have tested the market, the product, the improvement to the product, the ability to mass-produce and together are convinced of its potential”, added McMahon.

From now until the first of the year, the JV team will be engineering and installing the infrastructure of the China facility. Most importantly they will be hiring and training the technical staff. Much of the upfront training will be taking place in Greenville, SC, Scio’s headquarters. “One of the challenges, is taking our very detailed processes and procedures, translating them and making sure they are totally understood, prior to production startup”, say McMahon.

This joint venture clearly shows the confidence of two of the industry’s leaders in Scio’s vision to become the leader in the mass-production of high quality type lla single crystal diamond.

About Scio

Scio employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamond in a controlled laboratory setting, with such diamond referred to as “lab-grown” diamond. This lab-grown diamond has chemical, physical and optical properties identical to “earth-mined” diamond. The company’s manufacturing process enables it to produce high-quality, high-purity, single-crystal colorless, near colorless and fancy colored diamond.

Scio’s technology offers the flexibility to produce lab-grown diamond in size, color and quality combinations that are very rare in earth-mined diamond. Additionally, Scio produces diamond that has the structural, optical and electronic characteristics for industrial, medical and semiconductor applications.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the company, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “would,” “forecast,” “potential,” “continue,” “contemplate,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

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INTERTECH 2013 Conference

April 26, 2013 By

Al Genis will be speaking at the INTERTECH 2013 Conference on 5/7/13.

 

INTERTECH 2013 Schedule

 

What is INTERTECH?

INTERTECH 2013 is the Biennial International Conference dedicated to technological advancement and application development with an emphasis on increased productivity and performance using industrial diamond, cubic boron nitride, CVD diamond, polycrystallines and related materials classified as superabrasives.

In 2013, INTERTECH will focus on superabrasive applications and developments specific to the Aerospace and Defense industries. The reason for this focus is the expanded use of exotic materials used in the manufacturing processes for aircraft and defense systems. These exotic materials like superalloys, ceramics, high silica aluminum, composites and others are very light and strong but because of their composition are extremely difficult to machine and grind when manufacturing parts and components. In order to maintain productivity and process improvements, superabrasives need to be used in all manufacturing operations. The characteristics and properties of superabrasives allow for more precision, less scrap and no metallurgical damage on the finished parts. These results are extremely important in all industries, but critical in the aerospace industry.

This conference is designed to provide a blend of commercial and technical topics and serve as a global “meeting of the minds” for technologists and business leaders. Historically, INTERTECH has been the most successful conference held on superabrasives, drawing global audiences from commercial and scientific communities with myriad disciplines.

INTERTECH 2013 will continue with that prevailing mission to be the largest, most expansive conference ever conducted in this industry.

INTERTECH 2013 will have global leaders in Research, Superabrasive Synthesis, Manufacturing and Application Development of superabrasives in attendance. Discover and share the most significant product developments and new applications in superabrasive technology at INTERTECH 2013!

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Scio Diamond - Scio Exceeds 6,500 Carats and Increases Diamond Production Rates

November 29, 2012 By

GREENVILLE, SC, Nov. 29, 2012 /CNW/ - Scio Diamond Technology Corporation (OTCBB: SCIO.OB) announced today that it has exceeded 6,5000 carats of diamond growth since the start of production and has successfully grown diamond using 52 seeds in a single run.

“In October, we announced that we had increased our crystals per growth run from 12 to 25,” says Joseph Lancia, Scio’s President and CEO. “We are now averaging over 40 crystals per run and have recently made our first two successful runs at 52 crystals.” “No one in the world, to our knowledge, has ever accomplished this before.” To see photo of 52 crystal run, visit our website at www.sciodiamond.com/production .

“Running our reactors at 40 crystals per run has increased our potential annualized production rate from 24,000 to 36,000 carats in the last 30 days,” says Mike McMahon, Scio’s COO. “Just as important as the carat growth is the millimeter growth. Scio’s annualized current production rate is over 40,000 mm of vertical diamond growth.”

“Shipments to our customers have increased steadily and must continue to do so to meet the demand requirement,” says Lancia. “Even though our production has increased at an unbelievable rate, we remain pushed to capacity limits to complete fabrication and make shipments.”

“Our operational people continue to refine recipes and increase reactor utilization to get production ahead of the demand,” says McMahon. “This production increase approach coupled with our plan to have 5 additional lasers operational in diamond fabrication in early 2013 should allow us to fulfill our customers’ demands with less stress on the system.”

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than we do; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

SOURCE: Scio Diamond

 

For further information:Joseph D. Lancia
Chief Executive Officer
+1 (864) 751-4880
Jlancia@sciodiamond.com
Filed Under: News Tagged With: , , , , , , , , ,

Scio Diamond - Precision Medical Instrument Partnership - Finite Square mBh

November 7, 2012 By

GREENVILLE, SC, Nov. 7, 2012 /CNW/ - Scio Diamond Technology Corporation (OTCBB: SCIO) announced today that it has entered into a partnership agreement with Finite Square mBh for the supply of diamond for its specialized ophthalmology and plastic surgery blades and scalpels.

Mike McMahon, Scio’s COO, says, “Finite Square mBh is an FDA registered, independently owned Southern California Company dedicated exclusively to class 1 and class 2 surgical instruments. A significant key to this partnership is the ability of Scio to adapt its diamond recipes to the needs of Finite Square’s unique medical incision applications.”

Subash Mediratta, Executive Vice President of Finite Square says, “The CVD technology that Scio Diamond brings to the laboratory grown diamond medical application is superior and we feel that the partnership will be beneficial to the Ophthalmology and Plastic Surgeon community worldwide. This will be a first for an American company and the cost benefits to the surgeons and surgery centers will be favorable.”

“It has always been our intent to supply the medical field with our diamond for innovative applications and precise incision purposes. We are fortunate to now be associated with Finite Square mBh and working hand in hand to develop precision instruments to serve ophthalmologists and the medical field worldwide,” says Joseph Lancia, Scio’s President and CEO.

Scio has completed initial shipments of diamond to Finite Square for trial runs and proto types.

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

SOURCE: Scio Diamond

 

For further information:Joseph D. Lancia
Chief Executive Officer
+1 (864) 751-4880
Jlancia@sciodiamond.com

Filed Under: News Tagged With: , , , , , , , , , , , , , ,

Scio Diamond - Maximizing Diamond Growing Recipes Further Increases Production

October 15, 2012 By

GREENVILLE, SC, Oct. 15, 2012 /CNW/ - Scio Diamond Technology Corporation (OTC-BB: SCIO.OB) announced today that it has surpassed the 4,000 mark in the production of useable carats. These CVD diamond crystals are now either in the hands of our customers, working through the fabrication cycle or have contributed to Scio’s self-sustaining diamond seed stock.

“It is always exciting to meet or beat milestones that define the vision of the company. Using a mass production strategy, we have exceeded our expectations for diamond growth,” says Joseph Lancia, Scio’s President and CEO. “We are optimizing our current recipe technology for growth per hour, which has been key in our rapid increase in production.”

Mike McMahon, Scio’s COO, says, “in addition to adjusting our recipes as Joe explains, we are increasing our seed count per grow. In the beginning we were using 12 seeds per grow as we came on line in July. For the past few weeks we have increased the seed count to an average of 25 per growth and are currently loading growers with up to 40 seeds per reactor.”

“The result of this accelerated approach to mass production with high quality material, using our current average carat growth and seed count, is an annualized 24,000 carats per year,” says Lancia. “The demand for industrial diamond continues at a high level. When we finalize our phasing of 40 seeds per reactor, we will be at an annualized carat production rate of 36-38,000. For every additional seed we put above 40 on the growing table, we gain a little over 900 additional carats per year.”

“Growing in sync with our growth capability is our internal laser capability. Our first diamond laser is installed and is cutting diamond for seeds 24/7,” says McMahon. Current laser operation output exceeds 800 seeds per month plus special projects. Five additional lasers are scheduled for installation and operation by the end of the calendar year.”

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

SOURCE: Scio Diamond

 

For further information:Joseph D. Lancia
Chief Executive Officer
+1 (864) 751-4880
Jlancia@sciodiamond.com

Filed Under: News Tagged With: , , , , , , , , , , , , ,

Scio Diamond – Record Production Allows Shipments to Increase

October 1, 2012 By

GREENVILLE, SC, October 1, 2012 - Scio Diamond Technology Corporation (OTC-BB: SCIO.OB) announced today that its first sixteen weeks of production has exceeded 3300 carats of useable diamond. The last 5 weeks have yielded over 1400 carats of useable diamond. As laser fabrication capacity continues to increase, shipments are now reaching thousands of diamond parts per month.

“On a month over month basis we have increased our production 29% in September as we remain on track in the progressive implementation of our growing technologies. Our focus remains customer centric, with shipments increasing daily.” states Joseph Lancia, Scio’s President and CEO. “All the product in he world doesn’t mean anything until someone buys it, and you ship your product to them. That part of our plan is coming to fruition now.”

Mike McMahon, Scio’s COO, says, “Our current production run rate equals 14,500 carats per year. Literally in June, we were at 4,300 carats per year. We have increased reactor up time, decreased reactor turnaround, increased our growth rate of useable diamond and most importantly increased our growth per crystal”.

“The result of all this production effort, is more high quality product to our customers,” says Lancia. “The demand for industrial diamond is unbelievably high with requests coming in every day. We must be very cautious that we do not over promise our deliveries. “

“We have successfully set up partnerships with international vendors for diamond fabrication and have installed our first diamond sawing laser,” says McMahon. “We must remain focused on completing the installation of our next five lasers in the upcoming quarter to keep up with our ever increasing production capability.”

About SCIO Diamond
Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Contact:
Joseph D. Lancia
Chief Executive Officer
+1 (864) 751-4880
Jlancia@sciodiamond.com

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

Filed Under: News Tagged With: , , , , , ,

Scio Diamond - Diamond Production Increases and Fabrication Begins

September 6, 2012 By

GREENVILLE, SC, Sept. 6, 2012 /PRNewswire/ - Scio Diamond Technology Corporation (OTC-BB: SCIO.OB) announced today that its first three months of production exceeded original expectations by 200% and that initial fabrication of diamond material at the Company’s main production facility has begun.

“Although we have passed another important milestone on our path to mass production, we cannot afford to lose focus for one minute,” states Joseph Lancia, Scio’s President and CEO. “The customer base that we are establishing is relying on us to meet growing quantity demands with quality products.”

Mike McMahon, Scio’s COO, says, “The areas of concentration over the next quarter will be the increase in reactor up time and decrease in reactor turnaround time. In this business, the tiniest detail makes the difference in each of these parametric measurements. Any slight difference in the Scio diamond making process can change the growth or quality of the diamond substantially. Saving just 1 hour of reactor turnaround time increases production by more than 200 carats per year.”

“Our first step in the vertical integration of diamond fabrication is complete,” says Lancia. “We have completed the installation of the first of four saw cutting lasers in our South Carolina facility. Two additional intricate cutting lasers are ordered. The ability to laser cut diamond allows Scio to control the full value add and quality for a delivered, complete product.”

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

Filed Under: News Tagged With: , , , ,

Scio Diamond - Patents, Shipments and Production - Scio Moving Ahead

August 16, 2012 By

GREENVILLE, SC, Aug. 16, 2012 /PRNewswire/ - Scio Diamond Technology Corporation (OTC-BB: SCIO.OB) announced today that two more of their patents have been approved, international shipments have started and another production milestone has been met. The two US Patents that were approved are as follows.

It is very important that we continue to develop our Intellectual Property and its associated protection,” states, Joe Lancia, Scio’s CEO. “We have been fortunate to this point in our strategic plan to achieve significant sales and production results. We must never rest on our laurels with regard to R&D. The following two patents, reinforce our vision for the future of Scio, as well as it’s current state.”

Method Of Growing Single Crystal Diamond In A Plasma Reactor - Synthetic monocrystalline diamond compositions having one or more monocrystalline diamond layers formed by chemical vapor deposition, the layers including one or more layers having an increased concentration of one or more impurities (such as boron and/or isotopes of carbon), as compared to other layers or comparable layers without such impurities. Such compositions provide an improved combination of properties, including color, strength, velocity of sound, electrical conductivity, and control of defects. This process produces a conductive layer on top of a non-conductive layer, which is one embodiment. That allows for device layers grown into the diamond. The other is strain relief that allows faster electron flow. These layers are used for color, sound transmission, electrical and structural compositions to make devices or increase capabilities of CVD diamond. “This is used in semiconductor devices to enhance device performance,” says Joe Lancia, Scio’s CEO.

Retail Compatible Detection of CVD Grown Diamond - This is a system that includes a radiation source to provide short wavelength light. A holder positions a table of a gemstone to receive the light. A detector is positioned to receive fluorescent light from the gemstone when the gemstone is a CVD grown gemstone. It changes the wavelength of UV radiation source to produce a scintillator using a CVD diamond. It creates a light source, which shows radiation as light using a CVD diamond substrate. A detector can be used to measure light output and calibrated to a radiation level.

“The last two weeks, has shown the beginning of our international shipments of product, beginning the fulfillment of our largest order to date, says Mike McMahon, COO. “This may just be the most important milestone yet, as it is specifically focused on customer satisfaction.”

Over the last couple of weeks Scio has implemented new phases of its mass production phases. It most recently had a single grow of over 100 carats of new growth single crystal CVD diamond. McMahon says, “This was the first major move from our S3524 diamond seed growth technology. Increasing the number diamond stones being grown, coupled with controlled condition and some recipe adjustments has allowed us to improve production by almost 50% over runs a month ago.

“The increase in production was a key, no doubt,” says Lancia. But one of the real keys, was the meticulous planning that was put in place, allowing the operations group to be successful on their first attempt’.”

Scio is now in the midst of implementing a very aggressive laser/polishing program. “As we have progressed quickly into the world of industrial diamond, we must continue our focus on the fabrication side of the business, says Charles Nichols, Scio’s CFO. Scio is strategically acquiring current technology for lasers and polishing operations in support of their industrial diamond production. “This implementation allows Scio to become vertical in its support of clients with diamond size specifications”, adds McMahon. “Our operational focus will remain on supplying our customer with diamond to their specifications” reiterates Lancia.

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

Filed Under: News Tagged With: , , , ,

Scio Diamond - 1,000 Carats Milestone - Shipping Begins

July 31, 2012 By

GREENVILLE, SC, July 31, 2012 /PRNewswire/ - Scio Diamond Technology Corporation (SCIOE.OB) announced today that it has reached another major milestone. Scio has produced in excess of 1,000 carats of CVD single crystal diamond and has begun delivery to customers.

“As our production rates increase and we build a sustainable diamond seed supply, we are able to begin shipments to our customers. This is the beginning of the most important vision we have at Scio Diamond,” say Scio CEO, Joe Lancia. “That vision is to deliver our diamond material on specification and on time.”

“Our R&D and Operations personnel have made huge strides in achieving these production rates in a very short time period,” says Mike McMahon, Scio’s COO. “Our diamond growing personnel will continue their concentration on production, while the balance of our efforts will be focused on efficient, cost-effective fabrication of the diamond products our customers need.”

“With the efforts of every Scio employee, we have been fortunate with our early successes,” says Lancia. “Our focus now must remain on the consistent implementation of our next production technologies featuring our Mosaic diamond.” To that end, the first new, state-of-the-art technology lasers have been ordered and modification parts for the Company’s current custom-designed lasers are due in soon. Polishing equipment has been delivered to the production facility in South Carolina from Scio’s Massachusetts R&D facility in order to support operations immediately.

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

Filed Under: News Tagged With: , , , , ,

Scio Diamond - Multi Year / Multi-Million Dollar Sales Contract

July 24, 2012 By

GREENVILLE, SC, July 24, 2012 /CNW/ - Scio Diamond Technology Corporation (OTC-BB: SCIOE.OB) announced today that it has signed a multi-year / multi-million dollar sales agreement with an international supplier of precision diamond cutting tool products. Scio will be providing, in mass quantities, CVD single crystal diamond in specified wafer sizes. Scio has also consummated several other sales agreements with customers in the research and development, commercial/industrial, and gemstone markets.

“Lab grown diamond availability has always been a major concern”, says Joe Lancia, Scio Diamond’s CEO. “Our solution to the supply constraint begins to open the door to high level growth for the lab grown diamond industry.”

Customers need not take Scio’s word for it though. “Our international clients spent days in South Carolina familiarizing themselves with our production rates and quality approaches,” said Mike McMahon, Scio’s COO. “We know our diamond quality has been proven to be very high, but it is hard to fathom our growth levels without in depth understanding. So they come to see for themselves.”

“The impact of these orders can not be overstated,” says Lancia. “Hitting this milestone is great, but more important is the trust that companies are putting in Scio for quality and delivery of lab grown diamond.”

Charlie Nichols, Scio CFO, notes, “Our management team meets daily regarding pricing and capacity to meet new opportunities. We are focused on 100% delivery.” The company has been pleased with its production track record over the first 4,000 hours of diamond growth, but management will take a measured approach to new business.

“To meet new opportunities as they arise, we must focus on continued increases to our production levels while we enact an aggressive plan to become vertical in our laser and polishing operations in our fiscal 3rd quarter,” says Lancia.

About SCIO Diamond

Scio Diamond employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as “lab-grown” or cultivated diamonds. The diamonds have the identical chemical, physical and optical properties as diamonds found in the earth, and the company’s highly controlled manufacturing process enables it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.

Scio’s technology permits it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio Diamond Technology Corporation to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by our forward-looking statements as a result of various factors, including, without limitation, the following factors, risks and uncertainties: (1) we are wholly dependent on our diamond production technology, and we may be unable to achieve high-yield production; (2) we have very limited operating history, and therefore, it is difficult to evaluate our business and prospects; (3) our ability to develop our core technologies is subject to uncertainties that are created by, among other things, the complexity of diamond manufacturing, high customer standards, dependence on third parties for certain complex components, the need to successfully integrate several complex components, dependence upon our employees and consultants to maintain an adequate testing and technical support infrastructure for successful adoption and rollout of lab grown diamonds to customers, and our lack of experience in these areas; (4) we may not be able to establish effective distribution channels or distributors for our products; (5) we expect future losses and will need additional funding; (6) competitors may have significantly greater financial, technical, manufacturing and marketing resources and access to distribution channels than we have; (7) our business model is unproven; (8) our diamond manufacturing technology is vulnerable to disruptions due to a variety of factors, which may lead to interruptions, delays, and losses of opportunities or inability to consistently market and sell our lab grown diamonds; (9) we may not be able to effectively manage the potential rapid growth of our operations; (10) we depend on our key management personnel, most of whom have either never worked together or who have worked together for only a short period of time, and the loss of the services of our executive officers or other key employees could have a material adverse effect on our business; (11) we will need to hire additional personnel, and if we fail to successfully attract, assimilate and retain a sufficient number of qualified executive, technical, managerial, sales and marketing, business development and administrative personnel, our business could suffer; (12) we may not be able to achieve a critical mass of customers and strategic relationships; (13) we may not be able to establish brand awareness that is needed to achieve and maintain a significant market share; (14) the current and future state of the global economy may curtail our operations and our potential revenues; (15) acts of war, terrorism or other unknown and unexpected events could disrupt our business; (16) we have essentially no historical revenues and had a “going concern” qualification for our last audited financial statements; (17) the potential market for our lab grown diamonds is unproven and may not materialize; (18) we face significant competition, including from companies which are much larger, well known and have more resources than us; (19) rapid technological change will affect our business and our production capabilities may not successfully evolve; (20) we may have limited protection of our intellectual property and proprietary rights, and we may not be able to maintain the propriety and/or confidentiality of the technology; and (21) substantial governmental regulations govern the testing, creation and sale of the types of diamonds we intend to produce and may restrict our ability to sell our lab grown diamonds. Except as required by applicable laws, the company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

SOURCE: Scio Diamond

 

For further information:Joseph D. Lancia
Chief Executive Officer
+1 (864) 751-4880
Jlancia@sciodiamond.com
Filed Under: News Tagged With: , , , , , ,
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