PacWest Equities, Inc. Announces That Is Has Acquired the DayStar Technologies, Inc., a NASDAQ Listed Company, Line of CIGS
PacWest Equities, Inc. Announces That Is Has Acquired the DayStar Technologies, Inc., a NASDAQ Listed Company, Line of CIGS Solar Technology, in a Deal Analysts Valued at More Than $55 Million
LAS VEGAS, NV -- (Marketwire) -- 03/25/13 -- PacWest Equities, Inc. (PINKSHEETS: PWEI) announces today that it has acquired the DayStar Technologies, Inc., a NASDAQ listed Company, line of CIG Solar Technology, in a deal analysts valued in excess of $55 Million. The deal includes the ownership of DayStar's 15 Chamber CIGS production line which produces solar covered glass panels at the rate of one 2 x 4 sheet per minute, which is of significant importance to PacWest Equities wholly owned subsidiary, World EcoSource's MobileFood(R) and MobileFeed(R) Organic Food and Feed production lines. This technology purchase also includes the DayStar library of 51 patents, patents pending, and international patents, protecting the technology that makes them the only manufacturer of large panel solar glass panels in the world.
The technology cost over $100 Million to develop, with $67 Million going to Research and Development, $12 Million to build the prototype line, and $27 Million going to the actual production line now in physical possession of PacWest Equities, Inc., which addresses the construction market's need to replace typical tinted window panes in high-rise buildings with Solar Glass Panels that generate electricity at the same time as functioning as a window, a skylight, or any other type of building cover. This technology is designed to integrate with other technologies in the building market, but at the same time opening up huge surface areas for Solar Generation that previously were tinted, coated, and usually curtained to attempt to stop the transfer of heat and energy drain.
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 recession proof industries such as food and energy production showing a positive upside while struggling to bring new bio-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 1,500 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.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. has been an industry leader in the development of thin film copper-indium-gallium-di-selenide solar photovoltaics, commonly known as CIGS solar cells, for the direct conversion of sunlight into electricity. Thin film photovoltaic CIGS have 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.
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 such statement.
CONTACT: Media Relations PacWest Equities, Inc. email@example.com www.pacwestequities.net