On January 29, 2020, Edmond A. DeFrank was appointed to the Board of Directors of Digipath, Inc., filling the vacancy resulting from the resignation of Dr. Cindy Orser. Mr. DeFrank, 52, is an attorney in private practice. On January 31, 2020, Bruce Raben was appointed by the Company's Board of Directors to serve as its Chairman of the Board in a non-executive capacity.
Hypha Labs, Inc., formerly Digipath, Inc., has developed technology that cultivates the mycelium root structures of psilocybin mushrooms and other functional mushroom's mycelium into a natural product. This product has an exact, consistent potency containing all the natural compounds found in these fungi. Typically, it takes six-eight weeks to fully grow mushrooms, and using its technology, the production of the active ingredient is only seven-10 days. This natural product solves the dosing issue created by having to use whole mushrooms. The product is tasteless and gentler on the stomach and can be used sublingually for fast-acting results. The product allows the consumer to produce measurable active ingredients at home for mental and physical benefits. It provides Psilocybin Mushrooms, Button Mushrooms, Shiitake Mushrooms, Maitake Mushrooms, Reishi Mushrooms, Lion's Mane Mushrooms, Oyster Mushrooms, Oyster Mushrooms and Crimini Mushrooms.