SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: (Date of earliest event reported): April 16, 1998
MEDIZONE INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Nevada 2-93277-D 87-0412648
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
P.O. Box 742, Stinson Beach, California 94970
(Address of principal executive offices Zip Code)
Registrant's telephone number, including area code: (415) 868-0300
4505 South Wasatch Boulevard, Suite 210, Salt Lake City, Utah 84124
(Former address)
Item 5. Other Events
On April 16, 1998, Medizone International, Inc. (the "Registrant")
made changes to its Board of Directors following the resignation of the former
President and CEO to pursue other interests. In addition, the Company
announced it was relocating the corporate offices from Salt Lake City, Utah to
Stinson Beach, California, effective April 20, 1998. Additional details of
the changes are in the press release in the attachment.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on it is behalf by the
undersigned hereunto duly authorized.
Dated: April 20, 1998
MEDIZONE INTERNATIONAL, INC.
By: /s/ Edwin G. Marshall
Edwin G. Marshall,
Chief Executive Officer
Attachment: Press Release of 4/16/98
Medizone International Inc. Announces Management
Restructuring While Research Progresses
SALT LAKE CITY, April 16 /PRNewswire/ -- Medizone International, Inc.
(OTC-Bulletin Board: MZEI) (Medizone) announces a management restructuring.
Milton A. Adair has resigned as President, CEO and Board Member, but will
remain as a consultant to the Company. Mr. Adair has taken the position of
CEO with ION Laser Technology, Inc., a Company in which he had already been
serving as a Director. At a Board meeting held yesterday, Mr. Adair's
resignation was accepted and his appointment as a consultant to the Company
confirmed. Medizone then appointed Chairman of the Board, Edwin G. Marshall,
as CEO, and Board member Gerard V. Sunnen, MD, Director of Science, as Company
President.
Mr. Marshall made the following statement about these changes: "Mr. Adair as
fulltime president and CEO for the last nine months, has established a sound
corporate organization for the future of the Company. His leadership has
effected significant progress in the Company's business and scientific
development. For the next phase of Medizone's re-establishment, Mr. Adair's
availability as a consultant will be most appropriate to the Company's needs
and will ensure continuity. For example; the successful development of new
equipment announced on March 24, together with the start of research into the
deactivation of viruses in media used in the manufacturing of both animal and
human vaccines, is under way. The Company's expenses for both the phase I and
phase II veterinarian trials have already been paid. Medizone has more
ongoing research at this time than at any time in the previous four years.
The veterinarian trials are especially exciting for two reasons. 1. The
results are anticipated in approximately six months, a relatively brief period
of time. 2. If the trials are successful, as we fully anticipate, it could
potentially bring the Company a revenue stream in a much shorter period of
time than previously envisioned. Relations with our joint venture partner in
these trials will be managed by Dr. Sunnen as Director of Science."
Dr. Sunnen added: "The Company's Science record is especially encouraging,
combining low toxicity with the successful deactivation of viruses. Our
optimism in achieving a successful outcome with the veterinarian research is
based on this history and the fact that serum products are cell free. Cell
free products should allow us a larger therapeutic window, hence our belief of
a strong likelihood of success with this very important project."
The Company now plans a relocation to the San Francisco Bay Area. The Company
had been located in Salt Lake City specifically to accommodate Mr. Adair. Ms.
Joy Erickson, Vice President of Operations, will remain with the Company until
the relocation. Mr. Marshall said, "The San Francisco Bay Area, with its
larger biotech community and political involvement in HIV issues, now becomes
a more logical location for the Company."
The Company continues to work on securing additional funding. By keeping
expenditures to a minimum at this time, the Company believes it has enough
resources on hand to continue operations until the veterinarian research is
completed. (Estimated to be Sept. or Oct. of 1998).
The Company, current with its SEC filings, plans to remain so in the future.
The quarterly 10Q, due on May 15, is being prepared. As part of this
restructuring, CTC Inc. will no longer serve as Medizone's investor relations
firm. Shareholders are encouraged to follow Medizone's web site located at
www.medizoneint.com for Company information or telephone its Corporate Offices
at 801-274-8400.
Medizone International, Inc., is a research and development stage Company
engaged in the development of an ozone based treatment for diseases caused by
lipid enveloped viruses, including Acquired Immune Deficiency Syndrome (AIDS),
Hepatitis B and Herpes; and in the development of its patented technology for
the decontamination of blood, blood products and veterinarian serum products.
This press release contains certain forward-looking statements about The
Company's goals and anticipated future performance. The industry in which the
Company proposes to operate is dynamic and intensely competitive and there are
many factors that could cause the forward looking statements contained herein
not to occur or the timing of their occurrence to be delayed. With the
exception of historical information, the matters discussed in this press
release are forward looking statements that involve substantial risks and
uncertainties, including, but not limited to, the results of ongoing clinical
studies, economic conditions, product and technology development, production
efficiencies, product demand, competitive products and competitive
environment, availability of raw materials and critical manufacturing
equipment and facilities and other risks identified in fillings made with the
Securities and Exchange Commission.