SANTA MONICA: Garrett K. Krause, Managing Director of FutureVest Inc announced that FutureVest has acquired 100% of the issued and outstanding stock of Barotex Technology Inc from Zicron Corporation.
The closing of these acquisitions provides for an immediate spin out of its subsidiary, FutureVest Group, Inc., which holds ownership of all FutureVest investments and operating subsidiaries, to its shareholders of record.
Barotex Material Company was founded in 1996 by Lilo Beuzieron and was incorporated as Barotex Technology, Inc. in 2004 after 8 years of intense research and development. Barotex prime function was to design, develop and bring to market a specialty composite type fiber with application in a multitude of markets as a woven fabric, filament wound configuration, continuous weave product, a chopped fiber and a spun fiber that has high-heat resistance and sound deadening/insulating properties.
Barotex fibers are currently processed out of mineral rocks of volcanic origin through multiple confidential patented processes. The base fibers formulated with carbon or ceramic fibers and/or various metals have been developed into new hybrid composite type materials and technologies to open a new page in 21st Century fiber material science.
Depending upon the weave and composite material introduced into the fibers, BAROTEX can work as a replacement for Carbon Fiber, Kevlar and other such high demand materials.
As part of the transaction, FutureVest, Inc. will immediately amend its name and trading symbol on the OTC Pink Sheets to Barotex Technology Corporation (Barotex).
Simultaneously all FutureVest shareholders that own stock up to close of business on Monday December 17, 2007 for a record date of December 20, 2007 will receive a special restricted FutureVest Group, Inc. share as a dividend. This dividend will only be eligible to FutureVest shareholders holding 25 shares or greater and will be paid on December 31, 2007.
“The completion of this transaction will allow Barotex as a public company the ability to take this highly versatile advanced material technology to a whole new level as a public traded company, and for all our current FutureVest shareholders you will continue to hold your original FutureVest shares soon to become Barotex Technology Corporation as an liquid investment and receive a new restricted share dividend in FutureVest Group, Inc. as we continue our growth as a global venture investment company.” commented Mr. Krause.
FutureVest is a venture investment company that delivers shareholder value through its strategic investment plan. FutureVest has two interconnected working segments, Capital Investments and Venture Services that provide the necessary resources to assist in growth and success of its portfolio groups.
Core investments are made into entrepreneurial lead companies in the area of environmental technologies, software companies and online new media ventures.