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Bioflamex (BFLX:OB) Announces Details Of The New Business Focus On The Telecommunications Market; CEO Ken Bland Pursues Regulatory Inquiry Into Short Position Of BFLX Stock
NEW YORK, Aug. 15, 2012 /PRNewswire via COMTEX/ -- The Board of Directors and Executive Management of Bioflamex Corp. (the "Company" or "BFLX")(OTCBB: BFLX) recently announced the shift in the Company's business strategy to the Telecommunications Market, focusing on the underserved rural areas of the United States. The Company plans to implement this strategy on a nationwide basis through acquisitions, and through strategic alliances with international telecommunication equipment manufacturers, local and national telecommunication service providers and local, state and national government agencies. These acquisitions and alliances are dedicated to the network buildout and financing of these networks, as well as enhancing the public safety communications of these areas.
The Company's initial platform will be based in Oklahoma. BFLX has acquired its first operating company, Terra Asset Management, Inc. ("TAM"), a network asset management and deployment company, and management has entered into discussions with other key target acquisitions within the state. The acquisition targets include Utility Construction, Internet Service Providers and Tower Construction companies. It is the intention of Bioflamex to develop a model based on the initial rollout in Oklahoma that can be duplicated in other areas of the United States.
Ken Bland, CEO of Bioflamex, stated, "Bioflamex is initiating a strategic initiative to build out broadband spectrum networks in markets that have been identified as priorities by State and Federal agencies. Our management team intends to approach funding sources such as the Rural Utilities Service to access government grant and loan monies. There have been hundreds of millions of grant dollars awarded in various areas of the United States, for what we believe are less comprehensive projects than what we plan. We believe the completeness of our plan will lead to a significant advantage for Bioflamex. In addition, the Company has entered into discussions with Law Enforcement Agencies, Tribal Authorities, Emergency Service Managers, and State and Local Government Agencies about their participation in our subscriber network."
Bland concluded, "While we are excited about the new business plan and the potential value this plan holds for our shareholders, the Board and Executive Management have been made aware of a potential issue with our shares involving short sellers. We are vigorously pursuing, through every means necessary, including regulatory authorities, answer to these issues. We will fully support any actions possible to resolve these matters. It is our fiduciary responsibility to protect the shareholder value of our Company, and we are fully committed to meeting this responsibility. We plan to ask for a formal investigation into these matters and have as of today begun this process."
About Bioflamex Corp.: Bioflamex Corporation is a company focused on the development, production and marketing of its proprietary "clean tech" and advanced high performance fire prevention and -fighting products and systems.
With its global scope, Bioflamex Corp. primarily aims at penetrating its main market segments with its proprietary Bioflamex aerosols and Sentinel wildfire detection and prevention systems. The mission is to protect the environment while saving lives and property from fires.
The Bioflamex Corp. products can enhance private households' ability to safely and efficiently fight and prevent home fires, and increase the ability to protect private and public property in forest fire prone areas with little or no contamination of the environment.
In a $100 billion fire safety and electronic security market, Bioflamex Corp. aims to become a leading "clean tech" niche player and to generate a $100 million + turnover within the next 5 years.
