Tasco Holdings International (OTCBB:THII) announced today that it has filed to change its name to Bio-Matrix Scientific Group Inc. This move is in concert with the recent acquisition of assets from BMXP Holdings Inc. (symbol: BXPH) previously announced. Once all the filings have been finalized it is anticipated the company will trade under a new symbol reflective of its new name.
A company spokesperson said, "We are in the process of changing the Company's name to continue the Bio-Matrix brand in the adult stem cell banking arena."
The Company's Chairman & CEO David Koos stated, "We are excited about the Company's future with the continuation of Bio-Matrix' recognition in stem cell banking and stem cell / tissue management instruments. We believe the Company's new 15,000 sq. ft. facility should be completed shortly sometime in early October 2006. These two events, we believe, will lead to Bio-Matrix' brand development and near term realization of revenue."
Brian Pockett, Managing Director & COO for Tasco, noted, "The name 'Bio-Matrix Scientific Group' better denotes our company's business model. All of us associated with the Company are excited about the milestones we have achieved in a very short period of time."
BMXP Holdings Inc. - formerly Bio-Matrix Scientific Group Inc. (symbol: BXPH) is the largest shareholder of Tasco Holdings International (OTCBB:THII). BMXP Holdings owns 10 million common shares of Tasco as a result of the sale of its wholly-owned subsidiary to Tasco on July 3, 2006.
Mr. Koos and Mr. Pockett concurrently serve as Chairman / CEO and Director / Vice President respectively of both Tasco Holdings International (OTCBB:THII) and BMXP Holdings Inc. (symbol: BXPH).
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.