September 16, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Frame Waves, Inc. (OTCBB: FWAV) said it has closed its acquisition of B6 Sigma, Inc. in a share exchange transaction, which resulted in B6 Sigma becoming a wholly-owned subsidiary of FWAV. Under the deal, each share of B6 Sigma common stock was exchanged for 6.67 shares of FWAV common stock. B6 Sigma also closed a private offering of $1 million of its common stock contemporaneous with the closing of the FWAV share exchange, which included the conversion of $300,000 of previously issued convertible notes by B6 Sigma into the private offering.

At the closing, B6 Sigma also acquired and cancelled 738,000 shares of FWAV common stock from three FWAV shareholders. The CEO of FWAV resigned as an officer and director of FWAV and officers and directors of B6 Sigma were elected as officers and directors of FWAV.

FWAV shareholders have approved a 150 to one forward split and a name change to Sigma Labs, Inc., which are to take place upon final FINRA approval of the foregoing actions.

New Mexico-based B6 Sigma is comprised of scientists and engineers out of the Los Alamos National Laboratory. The firm has ongoing contracts with both the military and private industry, and plans to pursue agreements to commercialize and develop advanced sensing, software, materials technologies and other unique manufacturing processes for the defense, aerospace, and general industries. 

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