AURORA, CO--(Marketwire - February 05, 2008) - Vitro Diagnostics, Inc. (OTCBB: VODG), dba Vitro Biopharma, announced the completion of a private placement of its securities that represents a total potential investment of $500,000 by a group of three private investors. The investment includes an initial sale of 1,250,000 shares of common stock for $125,000 and warrants to purchase up to an additional 2,000,000 shares of common stock exercisable in tranches. The three different warrants are exercisable in approximately 90 day intervals at prices ranging from $0.125 to $0.25 per share and must be exercised by the holders if the Company reaches certain performance milestones. If all of the warrants are exercised, the Company would receive a total of $500,000 and the investors would receive 3,250,000 shares of the Company's restricted common stock, including the stock sold at the closing. The agreement with the investors contains other provisions designed to decrease the Company's debt and increase shareholder equity through conversion of certain debt to equity.
