Zivo Bioscience, Inc. (OTCQB:ZIVO), a Nevada-based biotech company, announced the expansion of its Board of Directors from four to five members with the appointment of Laith Yaldoo. The appointment, effective as of last Thursday, is part of the company's efforts to leverage Yaldoo's extensive experience in growing disruptive businesses across various industries.
Mr. Yaldoo, 56, brings a wealth of knowledge from his role as the managing member of HEP Investments LLC, a private investment fund he has led since August 2011. His background includes significant leadership in ventures from their inception through to their operations and strategic partnerships, particularly in the sectors of electronic payments, telecommunications, retail, biotech, healthcare, and back-office management.
In addition to his position at HEP Investments, Yaldoo serves as a strategic partner with Aquila Equity Partners and has been the National Director of ISO Sales for CardConnect since February 2009. His entrepreneurial journey includes founding National Processing Services LLC in 2001, which later merged with CardConnect, contributing to its IPO and subsequent acquisition by First Data and later by FISERV (NYSE: FIS).
His executive experience is further complemented by his legal background, having practiced law for nine years after graduating cum laude from Wayne State University Law School in 1993. Yaldoo also holds a Bachelor in Business Administration in Professional Accounting from the University of Michigan-Dearborn, where he graduated with Honorable Distinction.
Yaldoo's appointment does not come with any family ties to current officers or directors of Zivo Bioscience, nor are there any reportable related party transactions. He will participate in the company's standard compensation program for outside directors and will stand for election as a Class I director at the company's annual meeting of shareholders in 2026.
This strategic addition to Zivo Bioscience's Board is based on a press release statement and reflects the company's ongoing commitment to strengthen its leadership team with experienced professionals. Yaldoo's diverse background is expected to provide valuable insights as Zivo continues to navigate the complex biotech industry.
In other recent news, Zivo Bioscience, a Nevada-based biotech firm, has seen significant developments. Shareholders have recently approved key proposals, including the election of Nola E. Masterson as a Class II director, the appointment of BDO USA, LLP as the company’s independent registered public accounting firm, and the compensation of the company's named executive officers. These decisions were made at the annual shareholder meeting, and each received substantial majority votes.
Furthermore, Zivo Bioscience has experienced a shift in its stock rating. Maxim (NASDAQ:MXIM) Group, a notable analyst firm, has downgraded the company's shares from Buy to Hold. The downgrade was attributed to the company's delisted status and capital constraints. Despite recognizing the potential of Zivo Bioscience's proprietary algal biomass and the possibility of securing a deal for its innovative poultry feed ingredient, Maxim Group removed the previous $12.00 price target for the company's shares.
In addition, the firm adjusted Zivo Bioscience's financial outlook, lowering the 2024 revenue estimate while leaving the 2025 forecast unchanged. This adjustment was based on the first quarter results of 2024 and subsequent expectations for the company's financial performance. The firm also narrowed its GAAP loss per share estimates for both 2024 and 2025, reflecting anticipated lower operating expenses and a higher expected share count. These are the recent developments concerning Zivo Bioscience.
InvestingPro Insights
In light of the recent appointment to Zivo Bioscience's Board of Directors, investors may find additional context in the company's financial and market performance useful. Zivo, with a market capitalization of $27.39 million, operates within the volatile biotech sector and has seen a notable price uptick of 36.39% over the last six months, according to real-time data. Despite not having turned a profit over the last twelve months, the company's stock has experienced a staggering year-to-date price total return of 593.33%. This could indicate investor optimism about the company's future prospects or response to strategic moves like the expansion of its Board.
An InvestingPro Tip suggests that analysts are expecting sales growth in the current year for Zivo, which could be a positive signal for potential investors considering the company's recent executive appointments. Additionally, the firm's stock generally trades with high price volatility, which might appeal to certain investors looking for dynamic trading opportunities. For those interested in deeper analysis, InvestingPro offers further metrics and tips, including 9 additional InvestingPro Tips for Zivo, which can be accessed by visiting https://www.investing.com/pro/ZIVO. To enhance your investing strategy, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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