SANTA ANA, Calif., Oct. 22, 2010 (GLOBE NEWSWIRE) -- BioCentric Energy Holdings, Inc (Pink Sheets:BEHL) Dennis Fisher, Founder & Company Chairman, provided the following stock dividend clarification and corporate updates for both BEHL and BNPD (Pink Sheets:BNPD) Shareholders.
The Dividend date determined for shareholders of record of BEHL will be the end of the trading day, December 17th, 2010. Based upon management's prior experience, the estimated distribution of the dividend stock should occur approximately three to four weeks after the December 17th, 2010 record date. Each ten (10) shares owned of BEHL stock will result in a dividend of one (1) free trading share of BNPD being issued to all shareholders of Record as of December 17th, 2010.
Shareholders holding restricted or preferred stock will receive the same dividend at ratio amounts of the same distribution (example 10 restricted BEHL will result in one restricted BNPD dividend share).
The dividend stock will become freely tradeable when the S1 registration for BNPD becomes effective; this process usually is completed in approximately 90 days from the date of filing or sooner.
All BEHL shareholders will retain ownership of all of their shares as well as enjoy this dividend for their support. BEHL shall remain a separate public company under contract with BNPD to build out Photobioreactors under a cost plus 20% contract.
Company Development News:
The Beta product of Vitamin X has been produced and will be introduced to a test market in Temecula, California this weekend. This product will contain 200 mg of 4% Astaxanthin with all natural peach juice that provides the most powerful natural antioxidant in the world from Haematococcus, in an incredibly flavorful solution. We are very excited about the opportunity to have access to this test marketing which will provide us needed potential client input.
Number three and number four CABs for Death Valley Junction (DVJ) are being assembled at Corporate HQ in Santa Ana, California. Once three and four are completed BEHL will be able to log in that the company has delivered the first acre to its first client as delivered and paid for. Also, once completed, the management contract of the first acre will start on a cost plus 15%, an IP license fee for production achieved, and a commission on the sale of the end product.
The harvesting building is under construction in DVJ for the "Algae Ventures Extractor". A BioCentric proprietary stress method, prior to extraction, will be implemented for the first time in a commercial setting in DVJ thanks to the ingenious creativity of BioCentric's Helmut Gass. Helmut's invention will enable the company to maintain the Haematococcus in a perpetual replication mode and harvest on demand.
The Santa Ana Algae Scientific Team devised a nine day method of approximately 46 procedures to prepare the water in CAB Number 1, for receiving sufficient nutrients to sustain the inoculation after its introduction into the system.
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."
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CONTACT: Biocentric Energy Holdings, Inc Dennis Fisher, Chairman of the Board 714-966-1234 www.biocentricenergy.com