SCIO DIAMOND TECHNOLOGY CORPORATION (OTCMKTS:SCIO) Files An 8-K Regulation FD Disclosure
Item 7.01
| Regulation FD Disclosure. |
The following information (including Exhibit 99.1 referenced
below) is being furnished in accordance with General Instruction
B.2 of Form 8-K and shall not be deemed filed for purposes of
Section18 of the Securities Exchange Act of 1934, as amended (the
Exchange Act), or otherwise subject to the liabilities of that
section, nor shall it be deemed to be incorporated by reference
in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as expressly set forth by specific
reference in such filing.
On March 23, 2017, the Company issued a press release detailing
recent actions taken against the former Scio Diamond Board of
Directors Chairman Edward S. Adams by the Department of Justice
through its District of Minnesota U.S. Attorneys Office. Mr.
Adams was charged in a federal indictment with orchestrating an
elaborate fraud scheme to embezzle millions of dollars of
investors funds. The indictment alleges the activity happened
between 2006 and 2013. Scio Diamonds current Board of Directors
and management team have been cooperating with the Department of
Justice in its investigation.
A copy of the Press Release is furnished as Exhibits 99.1 to this
Current Report on Form 8-K and incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
99.1 Press Release dated March 23, 2017
About SCIO DIAMOND TECHNOLOGY CORPORATION (OTCMKTS:SCIO)
Scio Diamond Technology Corporation is a materials company. The Company has developed technology through which single crystal diamond materials are produced through a chemical vapor deposition (CVD) process (the Diamond Technology). The Company’s Diamond Technology provides a materials production platform. It utilizes a scalable manufacturing process for producing diamond crystals. The Diamond Technology process enables the concurrent production of various diamond crystals. The Company’s diamond crystals are grown on slices of diamond called seeds that it either grows internally or acquires from third parties. Its diamond can be used for jewelry featuring matching diamond of various sizes, clarities and colors, diamond engagement rings and fashion jewelry. The Company’s customers in the gemstone marketplace consist of diamond brokers, diamond cutters and diamond wholesalers both domestic and foreign. SCIO DIAMOND TECHNOLOGY CORPORATION (OTCMKTS:SCIO) Recent Trading Information
SCIO DIAMOND TECHNOLOGY CORPORATION (OTCMKTS:SCIO) closed its last trading session 00.0000 at 0.0700 with 161,250 shares trading hands.