SANTA CRUZ, Calif., June 25, 2019 /PRNewswire/ -- VIASPACE Inc. (OTC: VSPC) today is giving a second quarter 2019 update regarding its current business activities and evolving strategies. On February 19, 2019, VIASPACE announced that it had signed a contract with GERMADE, Inc. of Seoul, South Korea that plans to grow Giant King Grass (GKG) in the tropical Philippines and ship it to its animal feed customers in South Korea. GERMADE, Inc. has since changed their corporate name to GKG ASIA and is moving forward with the project. GKG plants/seedlings from VIASPACE have been shipped to GKG Asia for the initial GKG Philippines propagation nursery.
VIASPACE subsidiary, Viaspace California, Inc., has 110 acres of hemp growing in Southern California with plans for its first harvest in the third quarter of 2019. The initial harvest will be used to generate revenues from the sale of hemp propagation seeds and THC-free CBD oil. Viaspace California is examining ways to expand its hemp-specific business footprint beyond 2019.
Wholly-owned VIASPACE subsidiary Elite Therapeutics/Bad Love Cosmetics Company, LLC, is pleased to announce that they have become the in-room and resort amenity provider for Lost Valley Ranch in Sedalia, Colorado. Jaclyn Dougherty, Chief Operations Officer for Elite stated, "We have been working on the relationship with Lost Valley Ranch during the past year and are thrilled to be partnering with such a high-quality and wonderfully unique property." Elite Therapeutics has been working on its CBD cosmetic line and is preparing to launch a limited-edition CBD Platinum Crème and CBD Lip Balm.
VIASPACE Chairman and Acting CEO, Dr. Kevin Schewe, has written a blended, upmarket, fiction novel entitled: "Bad Love Strikes". The novel, to be published by Jan-Carol Publishing, Inc., will be available in hardcover, paperback and electronic versions this fall. It is an action, adventure, time-travel, rescue novel set in 1944 World War II Europe and in 1974 Oak Ridge, Tennessee. With the acquisition of Elite Therapeutics/Bad Love Cosmetics Company by VIASPACE, Inc., Dr. Schewe maintained publishing rights to the Bad Love name but VIASPACE has full marketing rights to the Bad Love cosmetic line and future Bad Love marketing endeavors. Dr. Schewe commented, "My goal is to make 'Bad Love' a recognizable global brand name."
Dr. Schewe concluded, "VIASPACE, Inc., while still focused on developing its Giant King Grass business line, has diversified through its partially-owned and fully-owned subsidiaries. We are now engaged in the hemp/CBD business and the cosmetics business universe including luxury cosmetics, CBD-containing cosmetics and luxury hotel amenities."
About VIASPACE Inc.
VIASPACE grows renewable Giant King® Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials. Giant King® Grass is a proprietary, high yield, dedicated biomass energy crop. Giant King® Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. The USDA granted approval for planting Giant King® Grass throughout the US and cooperates in exporting by performing the required inspections and issuing the phytosanitary certificate needed for import into foreign countries. Giant King® Grass is being grown in the US including Hawaii, and many foreign countries. For more information, please go to www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
About Elite Therapeutics & Bad Love Cosmetics Company
Elite Therapeutics, founded by Board Certified radiation oncologist, Dr. Kevin Schewe, is a clinical and cosmetic skincare company dedicated to delivering true and visible results. With over 32 years of clinical oncology experience, he made it his mission to offer patients relief and restoration from the external effects of treatment during their internal fight for life. Dr. Schewe searched for ingredients that would provide immediate nurturing on the surface—then continue working at the cellular level for long-term healing; this includes a new, high-potency CBD Recovery Crème. The full body and hair care product line can be purchased at retailers across the country as well as on the website (http://www.elitetherapeutics.com). Elite Therapeutics also provides custom luxury amenities for high-end hotels and rental properties. For more information or wholesale inquiries, please visit the website or contact us at: https://elitetherapeutics.com/pages/contact-us.
Bad Love Cosmetics Company is slated to launch a CBD lip product line (lipstick, lip gloss and lip liner) this year. The Bad Love Cosmetics CBD lip product line will be housed in edgy and recognizable components. They can be viewed using the following link: https://elitetherapeutics.com/blogs/news/coming-soon-bad-love-cosmetics.
Safe Harbor Statement
Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2017, and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.