Adamas One Corp.

• Adamas One Corp.
• Technology

JEWL

Offering Team

Pre-IPO Investors

Deal Highlights

We were incorporated on September 6, 2018 in the state of Nevada for the purpose of acquiring existing technology that would efficiently and effectively produce lab-grown, environmentally friendly, ethically sourced diamonds. On January 31, 2019, we entered into an Amended Asset Purchase Agreement with Scio, which was subsequently amended February 3, 2020, pursuant to which we acquired substantially all of the assets of Scio, which assets consisted primarily of diamond growing machines, patents, and all intellectual property related thereto, for an aggregate of 1,500,000 shares of our common stock and payment to certain lenders of Scio of an aggregate of $2.1 million in cash. In addition, we agreed to pay one-half of certain other unsecured operational liabilities of Scio. The transaction was approved by a majority of the Scio stockholders voting in person or by proxy at a special meeting of stockholders held commencing on June 7, 2019 and reconvening on August 6, 2019. The transaction closed on October 17, 2019. We recorded the value of the assets purchased at $8.65 million.

In 1990, Dr. Robert Linares, a pioneer in crystal growing and CVD techniques, formed Linares Management Associations, which later became Apollo Diamond, Inc. and Apollo Diamond Gemstone Corporation, or collectively Apollo Diamond, in 2006. Apollo Diamond ceased operations because of limited funds and its failure to commercialize its CVD technology. In August 2011 and June 2012, the assets of Apollo Diamond, Inc. and Apollo Diamond Gemstone Corporation, respectively, were acquired by Krossbow Holdings Corporation, a special purpose investment company, which changed its name to Scio Diamond Technology Corporation and resumed efforts to perfect and commercialize the CVD technology. Scio spent tens of millions of dollars further developing the CVD technology, creating high quality, single-crystal, lab-grown diamonds in a variety of types and colors, including Type IIa diamonds that were finished for fine jewelry and diamond materials that were sliced and shaped for industrial applications. Scio was a public company listed on the OTC Bulletin Board but ran out of capital and ultimately failed to commercialize the CVD technology. As a result of its failure to file its periodic reports with the U.S. Securities and Exchange Commission, or the SEC, Scio’s registration was revoked by the SEC on August 9, 2019. less

We were incorporated on September 6, 2018 in the state of Nevada for the purpose of acquiring existing technology that would efficiently and effectively produce lab-grown, environmentally friendly, ethically sourced diamonds. On January 31, 2019, we entered into an Amended Asset Purchase Agreement with Scio, which was subsequently amended February 3, 2020, pursuant to which we acquired substantially all of the assets of Scio, which assets consisted primarily of diamond growin More

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