SOURCE: Flex Fuels Energy, Inc.

April 20, 2011 08:00 ET

Bio-AMD, Inc.; Name Change From Flex Fuels Energy, Inc.

LONDON--(Marketwire - Apr 20, 2011) - Bio-AMD, Inc. ("BioAMD" or the "Company") (OTCBB: FXFL) announces that it has name changed to Bio-AMD, Inc. from Flex Fuels Energy, Inc. to reflect a name that recognizes our core business area, as carried out by our 63% owned subsidiary Bio-AMD Limited.

Bio-AMD Limited is currently in various stages of developing and commercialising three core technologies integral to its planned range of hand held, Point Of Care ("POC"), medical diagnostic devices aimed at the fast growing POC market:

DSR -- a Digital Strip Reader able to read existing lateral flow test strips;

COAG -- a Prothrombin Time (PT) blood coagulation monitor which has recently completed proof of concept testing; and

MPR -- a novel Magnetic Particle Reader multiple application diagnostic technology incorporating microfluidics.

The Company believes that the name change will enable improved communication of its current core business message to the market and engagement with the investment community.

The Company's common stock will temporarily remain listed for quotation on OTC Markets and the OTC Bulletin Board under the current symbol "FXFL" until new a symbol is assigned by Financial Industry Regulatory Authority, Inc. (FINRA) and a new identifying CUSIP number assigned to the stock. The Company will publicly announce the new trading symbol when assigned by FINRA and the effective date of the symbol change.

Shareholders need take no specific action regarding the name change, the mechanism of which is described in Form 8-K filed today with the SEC. Holders in certificated form should retain their Flex Fuels Energy, Inc. certificates as these will remain valid to be traded as Bio-AMD, Inc. stock once the name, symbol and CUSIP number change is complete.

The Company's corporate website will be updated in due course to reflect these changes.

About Bio-AMD, Inc.

Bio-AMD has two majority owned UK subsidiaries: Bio-AMD Limited, a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the Wocu™, a global currency data reference source for application in financial markets. (www.wocu.com).

To find out more about Bio-AMD (OTCBB: FXFL), visit our websites at www.flexgp.com and www.bioamd.com.

Forward-Looking Statements

Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed on March 22, 2010. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Contact Information

  • CONTACT:

    Bio-AMD, Inc.
    Tom Barr
    CEO
    +44 (0)8445 861 910