|Santa Barbara, CA - April 12, 2016 - Carbon Sciences, Inc. (CABN), focused on developing breakthrough technologies based on graphene, the new miracle material, today announced that the Company’s Board of Directors approved a 1-for-10 reverse stock split of its outstanding and authorized common stock.
According to Bill Beifuss, the Company’s’ president, “We believe that the stock split will better position the company's stock price to accommodate the Company’s growth-by-acquisition strategy to extend its presence in the $3.8 trillion worldwide information technology (IT) market.
As previously announced, the Company’s plan is to grow by acquiring profitable IT services providers, which in the future may also provide a channel of distribution for its graphene-based networking device technology currently in early research and development. The IT services sector alone accounts for approximately $1 trillion of the total $3.8 trillion total worldwide IT market.
Carbon Sciences will continue to work with the University of California, Santa Barbara (UCSB) to develop a new graphene-based optical modulator, a critical fiber optics component needed to help unclog the existing bottlenecks and enable ultrafast communication in data centers for Cloud computing.
UCSB is considered to be a global leader in bioengineering, chemical and computational engineering, materials science, nanotechnology and physics. UCSB boasts five Nobel Laureates (four in sciences and engineering) and one winner of the prestigious Millennium Technology Prize. The 2014 Academic Ranking of World Universities 2014 Academic Ranking of World Universities ranked UCSB Engineering/Technology and Computer Science as #7 in the world.
About Carbon Sciences, Inc.
Carbon Sciences is developing breakthrough technologies based on graphene, the new miracle material. Graphene, a sheet of pure carbon that is only one atom thick, is flexible, transparent, impermeable to moisture, stronger than diamonds and more conductive than gold. After successfully exploring methods to produce low cost graphene, Carbon Sciences is now developing graphene-based devices to enable ultrafast fiber optics communication in Cloud computing infrastructure.
Moore’s Law has enabled computers to process information at extreme high speeds. However, the speed of data movement between computers in the Cloud is bottlenecked by fundamental limitations of today’s fiber optics technology. By exploiting the natural breakthrough optical and electrical properties of graphene, we are developing next generation fiber optics components that are ultrafast, low power and low cost. We believe graphene-based components, such as photodetectors, fiber lasers and optical switches, will unclog the bottlenecks in the Cloud and unleash a global era of high resolution video on demand, high fidelity music streaming, high volume e-commerce and many more Cloud-based services.