SOURCE: BioPharmetics, Inc.

August 27, 2007 06:30 ET

BioPharmetics (BPMT) Announces Letter of Intent for Acquisition of Azteq USA, Inc. and OC Solar Power

SUN VALLEY, CA--(Marketwire - August 27, 2007) - BioPharmetics, Inc. (PINKSHEETS: BPMT) announced today the Company has signed a letter of intent to acquire the entire operations of Azteq USA, Inc., including OC Solar Power technologies.

Azteq USA, Inc. is a Wyoming corporation and proprietor of OC Solar Power technology, and the Azteq family of motorsports divisions Azteq Motorsports Racing, and Azteq Design.

OC Solar Power is a licensed partner of Champ Car as well as Robby Gordon Motorsports and Dale Jarrett Racing Adventure (both of NASCAR fame). OC Solar Power designs and manufactures apparels, accessories and hard goods with integrated patented solar power technologies for charging low voltage devices including Apple iPods™ and other MP3 players, cell phones, laptop computers, gaming consoles and more.

The acquisition's closing remains pending the signing of definitive agreements and approvals.

For more information visit http://www.ocsolarpower.com.

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact Information

  • Company Contacts:
    FutureTechIR for BioPharmetics
    Investor Relations
    (817) 812-2105 or
    (727) 417-9338

    Azteq USA, Inc.
    Gert Chalay
    P: (307)-637-0967
    F: (307)-632-3886
    info@ocsolarpower.com