BioCentric Energy Holdings -- Shareholder Update
June 07 2010 - 12:24PM
Dennis Fisher, the Chairman of the Board for
BioCentric
Energy Holdings, Inc. (Pink Sheets:BEHL), today issued the
following statements: "It has been 90 days since the annual
shareholder meeting in Las Vegas, Nevada and although we try to
keep our seven thousand plus shareholders apprised of their
company, we sometimes fail to address prior releases and exactly
what has been accomplished. Below are exact quotes and results to
date of our stated Primary Objectives defined at the Shareholders
Meeting in Las Vegas."
BioCentric Energy's Primary Objectives for the Next Ninety Days
are:
- Website updates – completed.
- Complete new laboratory in Santa Ana – completed as well as R
& D Lab completed.
- Complete our 6,500 sq ft version 3 PBRs in Santa Ana,
California – completed.
- Complete exact same version, 6500 sq ft version 3 PBRs in South
Carolina – cancelled – no financial gain achieved from
completion
- Assemble hard asset components to Lone Star College for a small
4300 sq ft PBR and begin the assembly process – cancelled – in
negotiations presently with Department of Plant & Microbial
Biology, College of Natural Resources, UC Berkeley for alliance
more beneficial to BEHL.
- Locate and secure 150 + acres for multiple client farms at one
California location – scaled down to 70 acres – 3 Southern
California sites identified and in negotiation.
- Informing in detail our newly appointed CEO with all major
future BioCentric objectives – - Dr. Goodall is on board and has
already provided assistance in our vision…Our CEO is presently
authoring a government guarantee loan for our own farm in Southern
California.
- Completion of the $5M Capital raise – postponed until results
of government application or until up-listing has been completed to
OTCBB
- Complete Form 10 filing to OTCBB requirements – auditor
contract in house, process in motion – not completed – anticipated
completion of audit is the end of August.
- Complete the sale of 3 inoculant reactors – sold one to
date.
- Sell two continuous flow desktop reactors – sold one to
date.
- Submit three provisional patents already proven by the company
– still on the drafting boards for completion
- Hire an independent evaluator to ascertain today's perceived
value on provisional patents already received by U.S. Patent Office
– after evaluating the benefits of this investment management has
postponed this task
Current update:
Last week we were injecting a high concentration of CO2 into the
system to drop the PH level to under 4 for sterilization of both
the nutrients and the water within the system – the beta test was a
complete success except for one problem … we realized, too late,
that the pig was expanding with the high content of CO2 in the
water. Two nights later the pig stopped inside the system from
increased expansion and burst all the tubes from the intense back
pressure created from the stoppage. We have since replaced all
the tubes from this extreme expansion and have installed a pressure
relief shutoff system to stop this problem from occurring
again.
Because we can now sterilize in days instead of weeks, the new
scheduled time to introduce the inoculant into the reactor will be
targeted for Thursday, June 10th.
We are excited about the new blow molding solution Dr. Goodall
is delivering. This new tubing is stronger, a two year
warranty, without seams for easier install, and less
expensive.
Excavation has begun on our first acre in Southern California …
two of the four CABs (Controlled Algae Basins) have been dug and
are now in the compaction stage.
We have estimated that the CABs will utilize the geothermal
assets for both cooling and heating year round to manage the
temperature effectively, efficiently, and economically.
BioCentric Energy's Manager of Research and Development, Mr.
Helmut Gass has achieved promising lab results for an economically
feasible method of electronic flocculation that will create up to a
five percent mass of algae to be dispersed on the BioCentric/Algae
Ventures belt harvester for final dewatering.
The BioCentric Energy Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7468
Safe Harbor
Statement: This release includes forward-looking
statements intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements generally can be identified
by phrases such as BEHL or its management "believes," "expects,"
"anticipates," "foresees," "forecasts," "estimates" or other words
or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements.
All such forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those in forward-looking statements.
CONTACT: BioCentric Energy
Dennis Fisher, Chairman of the Board
714-966-1234
http://www.biocentricenergy.com/
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