Biopesticide use began in the late 1800s with fungal spores used to control insect pests. The major attribute that differentiates biopesticides from synthetic pesticides is the mode of action. The global market for biopesticides is valued at 3.0 billion USD, accounting for 5% of the global pesticide market.
Black Bird Biotech Inc (OTC:BBBT) manufacturer of plant-based MiteXstreamTM biopesticide recently has repaid approximately $700,000 in convertible debt instruments. Fabian Deneault, BBBT’s President exclaimed “Our company is now on a financial footing that will allow us to build shareholder value, in a meaningful way, through significant investments in sales and marketing efforts under the direction of our recently hired National Sales GM and in our MiteXstreamTM inventory levels.” He further added, “Although we have a relatively small amount of remaining debt, we have cash on hand to pay all of that debt as it comes due.”
As a further update, the company continues its effort for up-listing to the OTCQB Venture Market and with their latest filings, it looks like they are on track.
$BBBT $MGROF $MBII $FMC