Subject to finalization of due diligence and the execution of a definitive agreement between the parties on mutually acceptable terms and conditions, it is anticipated the transaction will close and BMXP
Pockett concurrently serve as Chairman / CEO and Director / Vice President respectively of both Tasco Holdings International (OTCBB:THII) and BMXP
The reorganization will be effective at the open of the market on 8/28/2006, and the new symbol for BMXP
Holdings Inc will be BXPH.
As a result of this transaction, BMXP received 10,000,000 shares of Tasco common stock in exchange for all of the outstanding common stock of its wholly-owned subsidiary, Bio-Matrix Scientific Group, Inc.
Now that this transaction between BMXP and Tasco has closed as of July 3, 2006, Tasco intends to seek shareholder approval to change its name and become known as the Bio-Matrix Scientific Group Inc.
BMXP anticipates that it will continue to trade on the Pink Sheets and will become, upon closing of the transaction with Tasco, the largest shareholder of Tasco holding approximately 78% of the outstanding shares of Tasco.
As currently planned, BMXP intends to file a registration statement with the SEC to register the Tasco shares it acquired in the transaction under the Securities Act of 1933 and distribute those shares to BMXP shareholders as a dividend upon effectivity of the registration statement.
As a result of this transaction, BMXP
will sell all of the outstanding common stock of its wholly-owned subsidiary, Bio-Matrix Scientific Group Inc.