In a recent 8-K filing with the Securities and Exchange Commission (SEC), Zivo Bioscience, Inc., a Nevada-based biotech firm specializing in biological products, announced the relocation of its principal executive office. Effective Monday, the company's headquarters moved to a new address in Troy, Michigan.
The move to 2125 Butterfield Drive, Suite 100, marks a change from the company's previous location in Bloomfield Hills, Michigan. Despite the change in physical location, Zivo Bioscience's contact number remains unchanged at +1 (248) 452-9866.
This strategic shift comes as Zivo Bioscience continues to operate within the biological products sector, classified under the Standard Industrial Classification (SIC) code 2836. The company, formerly known as Health Enhancement Products Inc., has undergone previous name changes, with its earliest incarnation being Western Glory Hole Inc.
Zivo Bioscience's common stock and warrants are currently traded on the OTCQB and OTC Pink Sheets markets, respectively, under the ticker symbols ZIVO and ZIVOW. According to InvestingPro data, the company's stock has shown remarkable performance, surging over 600% in the past year and 134% in the last six months. With a market capitalization of approximately $69 million, current analysis suggests the stock may be slightly undervalued at current levels.
The company's filing did not elaborate on the reasons for the office relocation or any potential strategic benefits it may bring. The news of the relocation is strictly a factual update on the company's logistical and operational adjustments.
InvestingPro analysis reveals that while the company operates with moderate debt levels, its current ratio of 0.17 indicates potential liquidity challenges, with short-term obligations exceeding liquid assets. Subscribers can access 8 additional key insights about ZIVO's financial health and market position through InvestingPro's comprehensive analysis tools.
In other recent news, Zivo Bioscience, a Nevada-based biotech company, has made significant strides in restructuring its financial landscape. The company has entered into agreements with three creditors, Howard Shapiro, Merger Masters Pension Fund, and Financial Trading Consultants Pension Fund, to restructure existing debt through the issuance of unsecured promissory notes totaling approximately $277,254.38. These notes are set to be repaid over a 24-month period starting on November 30, 2024, and carry a nominal interest rate of 1.0% per annum.
The company has also reported the sale of 169,022 shares of its common stock to several accredited investors. This transaction took place between August and October, with shares sold at prices ranging from $8.34 to $16.31, averaging $10.44 per share. Of these, 52,802 shares were sold to related parties at an average price of $9.68 per share.
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