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Saturday, July 2, 2022

What A Move on BlastGard International Inc. (OTCMKTS:BLGA)

BlastGard International Inc. (OTCMKTS:BLGA) has seen a massive spike in price and trading volume after the stock was picked by thewolfofpennystocks.com as their new pick.

Thewolfofpennystocks.com has been advertising heavily on Ihub and other online financial sites in recent months and claimed no compensation for this pick.

BlastGard International Inc. (OTCMKTS:BLGA) doing business as BlastGard Defense Group, manufactures and markets proprietary blast mitigation materials through BlastGard International and designs, manufactures and distributes a unique range of leading security products and personal protective gear through HighCom Security.

The Company’s patented BlastWrap® technology effectively mitigates blast effects and suppresses post-blast fires. This unique technology can be used to create new, finished products or be used to retrofit to existing products. BlastGard’s core market focus is on blast effects mitigation for the commercial sector, military, law enforcement and government agencies.

The relative contribution of each mechanism depends upon the intensity and nature of the impinging hazard. Shock wave attenuation, for example, is dominant in mitigating mechanical explosions. Their products attempt to emulate unconfined conditions and accelerate attenuating processes that occur in free air. Thus BlastWrap® does not try to resist blasts (which physically intensify blast phenomena); it mitigates them. BlastWrap® can be used as part of confining assemblies (containers and blast walls). In effect, BlastWrap® is a ‘virtual vent’.

BLGA BlastWrap® products are made from two flexible films arranged one over the other and joined by a plurality of seams filled with attenuating filler material (volcanic glass bead or other suitable two-phase materials), configurable (designed for each application) with an extinguishing coating. Together, this combination of materials is designed to mitigate a blast while at the same time eliminate fireballs or flame fronts produced by the blast.

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On September 2 BLGA issued an 8k to the effect that ”the Company entered into one-year employment agreements with Michael Gordon, its Chief Executive Officer, and Michael Bundy, its President and Chief Operating Officer. Each agreement automatically renews after the expiration of the initial term (and yearly thereafter) for a period of one year unless either party gives the other party written notice, at least 90 days prior to the end of the then existing term that the employment is to terminate. Messrs. Gordon and Bundy receive an annual salary of $125,000 plus a 1.2% quarterly bonus on HighCom sales.

Each officer also received options to purchase 10 million shares of the Company’s Common Stock exercisable at $.009 per share from the date of vesting over a period of up to ten years. Of the 10 million options, 5 million are immediately vested and the balance of the options vest over a period of four additional years.

Messrs. Gordon’s and Bundy’s employment agreements can be terminated without cause only by giving 90 days prior notice as described above. If terminated without cause, employee is entitled to full compensation during the instant, pending term. In the event employee is terminated for cause as defined in the agreement or due to the death of the employee, such employee will be paid his compensation through the termination date of his employment. Messrs. Gordon and Bundy are bound by an agreement not to compete during the term of their employment agreement and for a period of one year after the expiration of their respective employment agreements.

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Currently trading at a $9 million market valuation BLGA has been slapped with the skull & crossbones designation from OTCMarkets (big problem) The Company does have some revenues and manageable debt. BLGA has seen an explosion in price and volume after the alert from Thewolfofpennystocks.com. We will be updating BLGA as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with BLGA.

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Disclosure: we hold no position in BLGA either long or short and we have not been compensated for this article.

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