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BioSolar, Inc. (BSRC)

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0.0410+0.0001 (+0.24%)
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Neutralpattern detected
Previous Close0.0439
Open0.0410
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0400 - 0.0457
52 Week Range0.0028 - 0.1840
Volume4,301,571
Avg. Volume16,284,146
Market Cap21.651M
Beta (5Y Monthly)2.09
PE Ratio (TTM)N/A
EPS (TTM)-0.5000
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    BioSolar Announces Closing of $5.0 Million Registered Direct Offering

    SANTA CLARITA, Calif., April 07, 2021 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTC: BSRC), a developer of energy technologies, today announced that it closed its previously announced registered direct offering, for the sale, under a securities purchase agreement with a single institutional investor, of 125,000,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 125,000,000 shares of common stock. The combined purchase price for one share of common stock (or common stock equivalent in lieu thereof) and a warrant to purchase one share of common stock was $0.04. The warrants have an exercise price of $0.04 per share, are immediately exercisable and will expire five years from the issuance date. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds from the offering were $5.0 million. The Company intends to use the net proceeds primarily to aggressively expand and accelerate the development of its electrolyzer technology to lower the cost of green hydrogen production, as well as for working capital and general corporate purposes. A shelf registration statement on Form S-3 (File No. 333-254336) relating to the registered direct offering of the securities described above was filed with the Securities and Exchange Commission (“SEC”) on March 16, 2021 and was declared effective on March 25, 2021. The offering of the securities was made only by means of a prospectus supplement and accompanying prospectus that forms a part of the effective registration statement. Electronic copies of the final prospectus supplement and the accompanying prospectus were filed with the SEC and may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (212) 856-5711 or by emailing placements@hcwco.com or at the SEC’s website at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The Company recently announced that is in the process of changing its corporate name to NewHydrogen, Inc. to better reflect its expanded focus on green hydrogen technologies. About BioSolar, Inc. BioSolar is a developer of clean energy technologies including green hydrogen, and lithium-ion battery components. The Company’s current focus is on developing a breakthrough electrolyzer technology to lower the cost of Green Hydrogen production. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. However, hydrogen does not exist in its pure form on Earth so it must be extracted. For centuries, scientists have known how to use electricity to split water into hydrogen and oxygen using a device called an electrolyzer. Electrolyzers installed behind a solar farm or wind farm can use renewable electricity to split water, thereby producing Green Hydrogen. Unfortunately, electrolyzers are expensive and rely on rare earth materials such as platinum and iridium. These very expensive materials account for nearly 50% of the cost of electrolyzers. The Company’s technology is aimed at significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth abundant materials to help usher in a Green Hydrogen economy that Goldman Sachs estimates will be worth $12 trillion by 2050. Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These statements include, without limitation, the intended use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: market and other conditions, the impact of economic, competitive and other factors affecting the Company and its operations, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission. Contact InformationInvestor Relations Contact:Tom BeckerBioSolar, Inc.ir@biosolar.com(877) 904-3733

  • GlobeNewswire

    BioSolar Announces $5.0 Million Registered Direct Offering

    SANTA CLARITA, Calif., April 05, 2021 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTC: BSRC), a developer of energy technologies, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase in a registered direct offering 125,000,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 125,000,000 shares of common stock. The combined purchase price for one share of common stock (or common stock equivalent in lieu thereof) and a warrant to purchase one share of common stock is $0.04. The warrants have an exercise price of $0.04 per share, will be immediately exercisable and will expire five years from the issuance date. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds from the offering are expected to be $5.0 million. The Company intends to use the net proceeds primarily to aggressively expand and accelerate the development of its electrolyzer technology to lower the cost of green hydrogen production, as well as for working capital and general corporate purposes. The offering is expected to close on or about April 7, 2021, subject to the satisfaction of customary closing conditions. A shelf registration statement on Form S-3 (File No. 333-254336) relating to the registered direct offering of the securities described above was filed with the Securities and Exchange Commission (“SEC”) on March 16, 2021 and was declared effective on March 25, 2021. The offering of the securities is being made only by means of a prospectus supplement and accompanying prospectus that forms a part of the effective registration statement. Electronic copies of the final prospectus supplement and the accompanying prospectus will be filed with the SEC and may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (212) 856-5711 or by emailing placements@hcwco.com or at the SEC’s website at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The Company recently announced that is in the process of changing its corporate name to NewHydrogen, Inc. to better reflect its expanded focus on green hydrogen technologies. About BioSolar, Inc. BioSolar is a developer of clean energy technologies including green hydrogen, and lithium-ion battery components. The Company’s current focus is on developing a breakthrough electrolyzer technology to lower the cost of Green Hydrogen production. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. However, hydrogen does not exist in its pure form on Earth so it must be extracted. For centuries, scientists have known how to use electricity to split water into hydrogen and oxygen using a device called an electrolyzer. Electrolyzers installed behind a solar farm or wind farm can use renewable electricity to split water, thereby producing Green Hydrogen. Unfortunately, electrolyzers are expensive and rely on rare earth materials such as platinum and iridium. These very expensive materials account for nearly 50% of the cost of electrolyzers. The Company’s technology is aimed at significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth abundant materials to help usher in a Green Hydrogen economy that Goldman Sachs estimates will be worth $12 trillion by 2050. Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These statements include, without limitation, statements related to our ability to close the registered direct offering, the gross proceeds from the offering and the use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: market and other conditions, the impact of economic, competitive and other factors affecting the Company and its operations, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission. Contact InformationInvestor Relations Contact:Tom BeckerBioSolar, Inc.ir@biosolar.com (877) 904-3733

  • GlobeNewswire

    NewHydrogen provides green hydrogen technology development update

    Company focusing on developing an oxygen catalyst for PEM electrolyzers that replaces the precious metal iridium with low cost materialsSANTA CLARITA, Calif., March 23, 2021 (GLOBE NEWSWIRE) -- NewHydrogen, Inc., a BioSolar company (OTC:BSRC), today provided an update on the progress of its green hydrogen technology development under a sponsored research agreement with the University of California at Los Angeles (UCLA). The company recently announced that it had executed an agreement, replacing the predecessor, to expand ten-fold upon the research efforts. The initial sponsored research program at UCLA focused on replacing the oxygen catalyst, iridium, a precious metal found only in asteroids, with low cost, earth-abundant materials that meet or exceed the performance characteristics of iridium. The objective is to develop inexpensive and robust materials with an outstanding ability to catalyze the electrochemical oxygen evolution reaction (OER) while achieving overall high performance water electrolysis for hydrogen production. Recently, a baseline non-precious metal based OER catalyst was selected and optimized for preliminary evaluations. The catalyst was then successfully synthesized upon adjusting its physical parameters and conditions to exhibit the best material characteristics. At each iteration, the catalyst material was characterized using transmission electron microscopy (TEM) and X-ray diffraction (XRD) studies. Electrochemical tests were also performed to confirm that the catalyst material indeed was a good reference point for further improvement. Comprehensive testing of the baseline catalyst material gave the researchers high confidence that there would be ample room for further improvement by substituting part of the existing metal element in the baseline material structure. “We are very pleased to see the progress being made in our green hydrogen program at UCLA,” said Spencer Hall, COO of NewHydrogen. “We have great confidence in Dr. Huang and her team, and are very pleased with what they have accomplished in such a short period of time. While these updates are more technical in nature, we will continue to make the public and broader capital markets aware of the technology objectives and critical steps of the process.” About NewHydrogen, Inc. NewHydrogen, Inc. is a wholly owned subsidiary of BioSolar, Inc. a publicly traded company (Symbol: BSRC). The company is focused on developing a breakthrough electrolyzer technology to lower the cost of green hydrogen production. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. However, hydrogen does not exist in its pure form on Earth so it must be extracted. For centuries, scientists have known how to use electricity to split water into hydrogen and oxygen using a device called an electrolyzer. Electrolyzers installed behind a solar farm or wind farm can use renewable electricity to split water, thereby producing green hydrogen. Unfortunately, electrolyzers are expensive and rely on rare earth materials such as platinum and iridium. These very expensive materials account for nearly 50% of the cost of electrolyzers. The company’s technology is aimed at significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth-abundant materials to help usher in a green hydrogen economy that Goldman Sachs estimates will be worth $12 trillion by 2050. To learn more about the company, please visit https://www.NewHydrogen.com. Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the United Stated Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. CONTACT INFORMATION Investor Relations Contact: Tom Becker BioSolar, Inc.ir@biosolar.com(877) 904-3733