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) February
18, 1997
BIOCONTROL TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-10822 25-1229323
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
300 Indian Springs Road, Indiana, Pennsylvania 15701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 349-1811
____________________________________________________________________
(Former name or former address,
if changes since last report.)
<PAGE>
Item 1. Change in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Events.
On February 18, 1997 the Company held a press conference
demonstrating the Diasenor 1000.
On February 20, 1997 the Company's subsidiary, Petrol Rem, Inc.
signed an International Distribution Agreement with Bainbridge
International in Queensland, Australia.
On February 24, 1997, the Company held a Special Shareholders'
Meeting. At that meeting, the shareholders voted to increase the
number of authorized shares from 60,000,000 to 100,000,000.
Item 6. Resignation of Registrant's Directors.
Not Applicable
Item 7. Financial Statement, Pro Forma Financial
Information and Exhibits.
(a) Financial Statements and Businesses Acquired- Not Applicable.
(b) Pro Forma Financial Information - Not Applicable.
(c) Exhibits-Press Releases
1. Febraury 18, 1997
2. February 20, 1997
<PAGE>
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
BIOCONTROL TECHNOLOGY, INC.
by /s/ Fred E. Cooper
Fred E. Cooper, CEO
<PAGE>
Press Release
Release: Immediate
For More Information, Call:
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.279.9455 phone
1.412.279.9690 fax 1.412.279.9447 fax
BIOCONTROL DEMONSTRATES DIASENSORr 1000 FOR PRESS
Pittsburgh, PA - February 18, 1997 - Biocontrol Technology, Inc.
(Nasdaq:BICO) announced today that the Company held a press conference at
9:00 a.m. this morning at the Holiday Inn, Indiana, PA.
In his opening statement, Fred E. Cooper, chief executive officer
of Biocontrol, stated that the conference was called to demonstrate the
Company's Diasensorr 1000 noninvasive glucose sensor for diabetics and to
explain its operation and how the sensor will affect those diabetics who can
use it.
The Diasensor 1000 was submitted to the Food and Drug Administration
(FDA) in January 1994 and is currently undergoing in-home testing.
Those in attendance saw the Diasensor 1000 measure the blood glucose
levels of patients Patricia McAdams and George Hnatko, then saw those Diasensor
readings compared to blood glucose levels given by a standard laboratory
reference device, the Yellow Springs Instrument (YSI). Ms. McAdams' glucose
measured 230 mg/dL on the Diasensor 1000 and 228 mg/dL on the YSI. Mr.
Hnatko's readings were 133 mg/dL on the Diasensor 1000 and 125 mg/dL on the
YSI.
David L. Purdy, president and founder of Biocontrol, explained the
Diasensor's operation, saying that the sensor is "an example of the most
advanced state-of-the-art spectroscopy technology [which uses] the
same principles...to detect infrared light from a patient's arm...as the
space shuttle crew will install in the Hubble telescope to detect light from
distant galaxies.
"[In the Diasensor 1000], the light emits from a fiberoptic probe,
passes into the tissue, bounces back from inside the skin and is picked up
by another fiberoptic element...[that] carries the light to an optical
component which separates it into its different wavelengths. By
comparing the light to the arm to the light collected from the arm, chemical
compounds can be detected.
"Once we have separated the spectral characteristics of the energy,"
continued Mr. Purdy, "these wavelengths can be compared with those that have
been previously measured from the patient at different levels of glucose in
the patient's blood. Then a mathematical equation called an algorithm is
applied to the information."
Mr. Purdy further explained, "To prepare the algorithm, [Biocontrol goes]
through a calibration procedure in which the patient has a number of
spectral measurements made at different glucose levels."
Todd Barker, Ph.D., the Company's manager of computational
analysis, clarified that this spectral data is automatically converted into an
algorithm by computers that use methods developed by a new
discipline called chemometrics. Chemometrics utilizes multivariate
analysis techniques to relate variables of measure, such as glucose and
infrared spectra, to provide a mathematical relationship between the variables
of interest.
Dr. Barker told the members of the press that this algorithm is
placed on a computer PCMCIA card which is inserted into the machine at use,
and by each having his own PCMCIA card, a single Diasensor can be adapted for
use by multiple members of the same family.
The Diasensor 1000 is 12" x 20.5", weighs approximately 40 pounds (with
the 17# powerpack), will have a two-year warranty, an expected life span of
ten years, requires no supplies, could be equipped for use by the
visually impaired, is anticipated to sell initially for $7,950 when FDA
approved, and will initially be available in the US by prescription only.
Acknowledging that "...the Diasensor 1000 is not perfect," Mr.
Cooper said that "It's not yet for everyone and it's bigger and more
expensive than we'd like it to be _ just like TVs were in the 40s, computers
in the 60s and calculators in the 70s...Those revolutionary products
improved with continued research and development," he continued. "The
Diasensor 1000 will, too."
The press conference concluded with a tour of Biocontrol's
Manufacturing Center which has 22,500 square feet of completed and
occupied space dedicated to manufacturing the Diasensor 1000. When
additional space now under construction is completed, manufacturing space
will jump to 68,000 square feet.
Biocontrol Technology, Inc. has its corporate offices in Pittsburgh, PA
and is involved in the development and manufacture of biomedical devices
and environmental products.
<PAGE>
Press Release
Release: Immediate
For More Information, Call:
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.279.9455 phone
1.412.279.9690 fax 1.412.279.9447 fax
BIOCONTROL SUBSIDIARY, PETROL REM, SIGNS AGREEMENT
Pittsburgh, PA - February 20, 1997 - Biocontrol Technology, Inc.
(Nasdaq:BICO) announced today that its subsidiary, Petrol Rem, Inc.
signed an International Distribution Agreement with Bainbridge
International (Bainbridge) in Queensland, Australia.
The agreement which grants Bainbridge exclusive distribution
rights in Australia and New Guinea for Petrol Rem's innovative new product,
BIO-SOKr bilge maintenance system, has an initial term of one year
commencing February 1, 1997 and will be automatically extended from year to
year for a period of five years as long as the distributor meets or exceeds
the Minimum Purchase Requirements.
The agreement requires Bainbridge to purchase a minimum of $923,125 worth
of product over a five year period. From several interested distributors,
Petrol Rem chose Bainbridge because of their strong base of potential
customers including 460 marine dealers, major corporations, and
government departments such as the Royal Australian Navy and Air Force, the
Australian Army, Coast Guard, National and State Water Police, etc.
Bainbridge has told Petrol Rem that "...the expected success [with BIO-SOK]
has resulted from extensive research with the sample" that has "received much
positive feedback."
Other international distribution agreements in place for the
BIO-SOK are with Agrospectrum Intern, USA (Indonesia, Malaysia,
Singapore and Brunei), Ordnance Technology (Canada/England), and Shipping
Services Italia, Srl.
The BIO-SOK bilge maintenance system, a completely unique product
that absorbs and biodegrades boat bilge oil/fuel leakage then biodegrades
itself, has garnered many honors in the past six months, thereby
significantly increasing market visibility.
Most recently, on February 14, BIO-SOK was given a 1997 Innovation Award
by the prestigious trade magazine, Motorboating and Sailing. In December,
Boating, the largest pleasure boating magazine in the world, announced
after testing the product that they would now place a BIO-SOK in every boat
they tested. Environmentally conscious Boating editors were so impressed
with the performance of the BIO- SOK that they felt it would be an
excellent means of protecting marina waters from oil leaked by their
test boats.
The BIO-SOK is also featured across the nation by the National
Aeronautics and Space Administration (NASA) as spinoff technology and has
been nominated to the NASA Hall of Fame. In addition, the BIO-SOK bilge
maintenance system won the National Marine Manufacturers Association's 1996
Innovation Award for the Trailers and Accessories category at the
International Marine Trades Exhibit and Convention held in Chicago this past
September. Thus far, over 30 boating and marine trade publications have
written about the new product.
BIO-SOK bilge maintenance system, which is 100% guaranteed with
all natural ingredients, is available from marina shops, marine supply
stores, and from the Company directly (1.800.246.2275) and retails for
$29.95. Depending upon the type and amount of contaminant, the SOK will last
an entire boating season and require no effort or additional expense from the
boat owner to keep the bilge clean and the surrounding environment free from
oil and fuel which might otherwise leak from the boat. Such leakage, cited
as a major cause of marina water pollution, is now being more closely
monitored and heavily fined by environmental regulation enforcement
agencies.
Biocontrol Technology, Inc. has its corporate offices in Pittsburgh,
PA and is involved in the development and manufacture of biomedical
devices and environmental products. Petrol Rem, Inc. develops and
manufactures unique oil spill response products and has offices, as well
as manufacturing and warehousing facilities, in Pittsburgh, Florida, and
the Texas/Louisiana Gulf.
