Intl BioChemical Industries Inc fka IBCL

[SRT8]

After reading many of the past deals , contracts, partnerships, distributors and the likes....They really sound great...makes one want to buy......HOWEVER.....most of them seem to have gone by the wayside or fallen into some huge crack and just may have disappeared into the sunset. One in particular comes to mind and it is relative to the $35 million 6 year distribution agreement with Megastar from Hong Kong....was this smoke or is it still pending?

This is taken from the BSTI web page......

Megastar Universal, a BioShield Global Licensee, Purchase $800,000; Megastar Increases Purchase Size to $800,000 With Bioshield
ATLANTA, Jan. 24, 2002 BioShield Technologies (OTC Bulletin Board: BSTI) , a Georgia-based bio-tech company with patented antimicrobial technologies for use in both consumer/industrial and medical applications, announced today that Megastar-BioShield, Ltd., a Hong Kong corporation, and a subsidiary of Megastar Universal Unlimited, a Chinese conglomerate consisting of six corporations with $100 million in sales, has increased their purchase of BioShield's patented antimicrobial to $800,000. On October 4th, 2001, BioShield announced the signing of a 6-year, $35 million distribution agreement with Megastar Universal Unlimited to sell products in South-East Asia. The agreement allows Megastar to utilize its own sub- distributors to further increase opportunities for sales of BioShield products in consumer and industrial applications with BioShield retaining the right to approve sub-distribution agreements. Megastar has the right to grant other companies within the territory assigned to produce different products using Bioshield's patented technology AM500 or 1860. BioShield chemists are continuing to assist Megastar with development of the product for specific uses as requested by Megastar clients.

Management stated, ``This was the first global licensee and distribution agreement in which BioShield had to renegotiate for a larger contract due to strong demand. We anticipate the possibility of multiple renegotiations on various existing contracts as well as the signing of multiple new contracts as the demand for the company's patented antimicrobial increases. The sheer size of the demand for a safe and effective antimicrobial is becoming more and more apparent as evidenced by current events. It is the company's opinion that it offers the world the most effective antimicrobial product in the market today.



.....TNX...BB//BB[Suppressed Sound Link]