Gemesis

Retired U.S. Brigadier General Carter Clarke founded Gemesis in 1996 after he was introduced to scientists overseas that had been at work since 1976 developing an economical method to produce, for electronic applications, quality diamonds which had all the characteristics of those occurring in nature. Later that year, the Company purchased an experimental diamond growth chamber, as well as supporting materials and equipment, and undertook comprehensive testing to prove the concept. To authenticate the technology and verify the production process, Gemesis entered into a research contract with the University of Florida. While the process was certified shortly thereafter, further research and development was required before a sustainable business model could be validated.

The Gemesis Corporation 2003-2005

Consequently in 1998, additional diamond growth chambers were purchased and shipped to the University of Florida to continue the research, and several foreign scientists were brought over to the United States to affect a technology transfer to Company scientists working at the University.

Recognizing the commercial potential of the technology being developed, the University of Florida made an equity investment in Gemesis and committed to develop collaborative research and development programs. The Company operated a small production facility near the University in order to test and confirm research results. This research and prototype production progressed to the point where the commercialization of the business to distribute gem quality laboratory-grown diamonds for jewelry products was considered viable.

It was then that the Company adopted the term "Gemesis Cultured Diamond®" to distinguish its laboratory-grown product from mined diamonds and to assure that consumers were not misled as to the product's origin.

The first significant commercial production runs were made in 2002 in a new state-of-the-art production facility in Sarasota, FL. Sales were made initially to a limited number of jewelry retailers. Eventually, the Company began to attract the attention of numerous trade and consumer media professionals. As a result of this exposure, sales grew and the Company began to expand its production capacity.

In 2005, a major decision was made to redirect the Company's business strategy. Rather than offering individual cultured diamonds in a loose, cut and polished form to retailers, the Company began selling rough stones in lot form to jewelry manufacturers and designers. That meant that, henceforth, Gemesis would be marketing in a manner similar to mined diamond producers. This change has proven most beneficial to both the Company and the trade.