AlgiSys LLC Valued at $28.5 Million

CLEVELAND, OHIO, August 15, 2013: GBQ Consulting Valuation and Financial Opinion Services has recently provided an independent and in- depth study of the progress and potential of the AlgiSys intellectual property (IP), including its patent portfolio and trade secrets. GBQ has conducted this IP valuation analysis in conformity with the uniform standards of The Appraisal Foundation, the American Society of Appraisers, and the Institute of Business Appraisers. “Based on our indicated enterprise value of AlgiSys and our estimated value of the assembled workforce (the only material non-IP-related asset or liability held by the Company), we opine that the fair market value of the Company’s IP is $28.5 million as of the Valuation Date. This report will be made available to new investors.

Michael LoPresti, CEO of AlgiSys, remarked that “We feel the GBQ report validates the enormous potential of AlgiSys to enter the omega-3 markets with significant know-how and the patent protection necessary to make us a leader in this industry. We expect our intellectual property to continue to appreciate in value as we enter the final stages of our technology commercialization efforts.”

Contact: Michael LoPresti, CEO, at michael@algisys.com