PacWest Equities, Inc. Announces the Signing of Agreement to Acquire the Solar
Technology Line of CIGS Technology From DayStar
Technologies, Inc. (NASDAQ-DTSI) in a Deal Some Analysts Value in
Excess of $50 Million
LAS VEGAS, NV -- (Marketwire) -- 02/12/13 -- PacWest Equities, Inc.
(PINKSHEETS: PWEI) announced today the completion of an agreement to
acquire the Solar Technology Line of CIGS technology from DayStar
Technologies, Inc. (NASDAQ: DSTI), in a deal some analysts value in
excess of $50 Million. The transaction includes the ownership of all
of DayStar's solar assets, including their proprietary,
differentiated manufacturing process to produce low-cost,
monolithically integrated, silicon-free, CIGS-on-glass modules that
address the grid-tied, ground-based Solar (PV) market.
This technology is equally of interest to PacWest Equities' wholly
owned subsidiary World EcoSource, a technology based company which
has developed the MobileFeed(R) and MobileFood(R) systems, helping
offset deficient worldwide food production for both animals and
DayStar Technologies has developed a new photovoltaic module based on
its proprietary one-step CIGS deposition process. The CIGS Module
addresses the construction market's needs as it is designed to be
compatible with solar system designs being installed today in the
largest and most rapidly growing thin film markets.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is an industry leader in the development
of thin film copper-indium-gallium-Di-selenide solar photovoltaics,
commonly known as a CIGS solar cells, for the direct conversion of
sunlight into electricity. Thin film photovoltaic CIGS technology has
the greatest promise for reducing the cost of solar energy. Layers of
the semiconductor are deposited along with other layers of material
to form a cell that utilize the photovoltaic effect to enable the
generation of solar electricity.
About PacWest Equities, Inc.
PacWest Equities, Inc. specializes in working with under performing
companies and bringing together the resources needed for them to
attain financial stability and growth. Our focus is on companies
showing a positive upside while striving to bring new technologies
and unique products to market.
About World EcoSource, Corp.
The World Eco Source MobileFeed(R) and MobileFood(R) units provide
turnkey systems for either the production of livestock based
consumables or human based protein and vegetable consumables.
The MobileFeed(R) units are truly a sustainable green life cycle
farming system. Using solar powered and water conservation growing
systems, one trailer can produce 1500 pounds daily of organically
grown grass for year round livestock consumption, lowering feed costs
by 200% while producing Certified Organic, Grass Fed livestock,
increasing profitability of the final product.
This news release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995.The words or phrases "would be," "would allow," "intends to'"
"will likely result," "are expected to," "will continue,"
"anticipate," "expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar
expressions are intended to identify "forward-looking statements."
Actual results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These include the company's historic lack of
profitability, end user customer acceptance and actual demand, which
may differ significantly from expectations, the need for the company
to manage its growth, the need to raise funds for operations and
other risks within the regulation of the industry. Statements made
herein are as of the date of this press release and should not be
relied upon as of any subsequent date. The Company's past performance
is not necessarily indicative of its future performance. The Company
does not undertake, and the Company specifically disclaims any
obligation, to update any forward-looking statements to reflect
occurrences, developments, events or circumstances after the date of
PacWest Equities, Inc.
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