Biocentric Energy Holdings, Inc. (BEHL)

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No, they changed it to a JV.



BioCentric Energy Holdings, Inc. Shareholder Update
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Press Release Source: BioCentric Energy Holdings, Inc. On Monday December 21, 2009, 6:00 am EST

SANTA ANA, CA--(Marketwire - 12/21/09) - BioCentric Energy Holdings, Inc. (Pinksheets:BEHL - News) today issued the following Shareholder and Investor updates:

Company President Dennis Fisher today announced, "The transition to the new Corporate Facility in Santa Ana, California from San Juan Capistrano is almost fully completed. We expect to be administratively fully operational by the first week of January 2010. We have received delivery of the first run of our (patent pending) plastic corners for use in the production of the second generation 'Algae Pro Closed Loop Photobioreactor System' of which we hope to start construction in early January. The exclusive newly designed flexible durable tubing for the system is currently in production in Southern California and should arrive here by mid January. The targeted completion of the first test system is mid February 2010."

The company has modified the merger agreement with corporate ally "Renewed World Energies," based in Georgetown, South Carolina to that of a Joint Venture (JV) agreement. Mr. Fisher commented, "The terms of the JV agreement are more realistic to work with from a Geographic standpoint at this time. Simultaneously with the construction of the Santa Ana, California closed loop system, the companies will be constructing a BioCentric second-generation closed loop system at Renewed Energies' Georgetown facility. The simultaneous production and completion of both systems is designed to expedite the scientific research for new ALGAE strains along with the expedited production of the existing orders. Both companies are currently working together to finalize the new Omega 3 with EPA ALGAE strain."

Mr. Fisher further commented, "On a more personal and shareholder orientated note, after many months of administrative document research, PinkSheet filings and a significant amount of fees the company has finally been able to have the 'Caveat Emptor' removed from the PinkSheets company Information website. This is, to say the least, a relief for both BioCentric and its shareholders."

VOD Newswire Video Format: http://vodnewswire.com/vodnewswire/news/biocentric-energy-20091221/