SOURCE: BioCentric Energy Holdings, Inc.

BioCentric Energy Holdings, Inc.

February 24, 2010 15:15 ET

BioCentric Energy Holdings, Inc. Announced Today the Following Company Updates

SANTA ANA, CA--(Marketwire - February 24, 2010) -  Today was the first annual BEHL (PINKSHEETS: BEHL) Shareholders Meeting. The following statement was issued by Dennis Fisher, Chairman of the Board of BioCentric Energy.

"In the past I have regurgitated what I believed, from information that was conveyed to me, by those who I bestowed my faith and trusted in their abilities. I did this... No one else. I accept full responsibility for not achieving on the dates I published... I accept full responsibility for allowing others to manage what I should have. I accept full responsibility to manage with little or no accountability. For this I accept responsibility and have tendered my resignation as CEO, but will resume the title of VP Business Development of BEHL as of April 4th, 2010.

"David Brinkley, the man we all trusted for years with our news, said once, 'A successful person is one who can lay a firm foundation with the bricks that others throw at him.' 

"I am honored by the tremendous support that so many have given. I know that our position in our market is secure and expanding by the efforts of many. I also know my limitations. And I also know my primary fiduciary responsibility as Chairman of the Board of Directors is to our shareholders to make the decisions necessary to increase value.

"Our new CEO is much more qualified than I to execute our Revised Business Plan and take BEHL to OTCBB and onto NASDAQ. In the coming weeks, we will disclose our incredible find of personnel and you will, I am sure, agree in our choice of candidate... in the interim he has asked his name and credentials be announced upon the full completion of his prior commitments and obligations which become effective as of April 2nd,  and we have agreed."

Mr. Fisher went on to say that Black Mountain has agreed to provide the $5 Million financing and the terms and conditions, when completed, will be filed with the appropriate SEC requirements. Mr. Fisher also gave a business cap of where BEHL is now and where BEHL is expected to be in ninety days, in six months and in twelve months.

Tomorrow, Thursday, February 25th is the National Algae Association (NAA) West Coast Chapter Workshop. The NAA Workshop will be held at the Monte Carlo Hotel and Casino in Las Vegas, February 25th - 26th; Time: 8:00a.m. Tickets are still available at the door.

View this release in video format:

In other news
Thirty "corners" for the Algae Pro Photobioreactor (180 degree turns) have been shipped to Renewed World Energy in South Carolina for the Biocentric Algae Pro Photobioreactor III being built there.

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 Information

  • Contact:
    Monique Berry
    Executive Vice President
    BioCentric Energy