SOURCE: Building Turbines, Inc.
April 06, 2011 12:52 ET
Hyperbaric Oxygenation Corporation Announces Corporate Name Change to Building Turbines, Inc.
AUSTIN, TX--(Marketwire - April 6, 2011) - Building Turbines, Inc. announces acquisition and name change of Hyperbaric Oxygenation Corporation with an effective date of January 4, 2011. The Company received approval from FINRA for the name change on January 3, 2011. To better reflect the new name, Company's ticker symbol has also been changed to: (PINKSHEETS: BLDW) (CUSIP: 120128 103).
The name change reflects the Company's re-branding and focus on its new business plan of developing, manufacturing and installing rooftop mounted wind turbines for commercial buildings. In December of 2010, the Company acquired all of the assets of Building Turbines, LLC a Texas developer of rooftop mounted wind turbines for 113,000,000 (One Hundred and Thirteen Million) shares of the Company's stock ("the Closing Shares"), and warrants to purchase up to 35,000,000 (Thirty Five Million) shares of the Company's common stock for $.15 (Fifteen Cents) per share at any time prior to the expiration of 3.5 years from the issuance of the Closing Shares.
In addition to the acquisition of the Building Turbine Assets, through a vote of its majority shareholders, the Company appointed Mr. John F. Graham, Sr. as the Company's Chief Executive Officer and Chairman of the Board, as well as Mr. David Parker as the Company's Chief Operations Officer. Mr. Graham and Mr. Parker were formerly CEO and COO of Building Turbines, LLC. More information about the Company's products and services is available from: www.buildingturbines.com.
The Company has also filed a Restated Certificate of Incorporation with the Nevada Secretary of State. The Restated Certificate provides for an expansion of the Company's authorized common stock to 500,000,000 (Five Hundred Million Shares) to provide for additional treasury stock to make additional acquisitions and execute its business plan. A copy of the Company's Restated Certificate, as well as the Company's unaudited financial statements and additional disclosures can be downloaded from www.otcmarkets.com.
Shareholders who wish to have their certificates re-issued with the new name and CUSIP may contact the Company's transfer agent:
Island Stock Transfer
100 Second Avenue, South
Saint Petersburg, FL 33701
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: The material contained in this press release may include statements that are not historical facts and are considered "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current views about future events, financial performances, and project development. These "forward-looking" statements are identified by the use of terms and phrases such as "will," "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from the Company's expectation. These factors are elaborated upon and other factors may be disclosed from time to time in the Company's past filings with www.otcmarkets.com and available on its website. Building Turbines, Inc. expressly does not undertake any duty to update forward-looking statements.