TYLER, Texas, March 21, 2007 (PRIME NEWSWIRE) -- Biogenerics Limited (Pink Sheets:BIGN) (GR:D9G) announced that the Company has retained legal counsel to guide and direct it in regards to the recent issue of the Ten Day Suspension of Trading by the Securities and Exchange Commission ("SEC").
It is anticipated that the company's stock will become trading again on March 22nd. At this time, the Company is taking all measures to become a fully compliant, fully reporting company under 10SB rules and regulations of the SEC, along with complying with the requirements of Guide 2 of the Industry Guidelines for oil and gas companies. It is a long detailed process expected to take several months to complete.
As announced in previous press releases, the company will take advice from its legal counsel, the changing of the Company's Name, CUSIP number, trading symbol and trading market at this time to become a fully reporting company.
The Company is continuing with its business operations and will inform shareholders of all business activities through regular press releases.
Website: http:/www.bignltd.com
About Biogenerics Limited
Biogenerics is a diversified investment venture capital firm focused on exploiting and distributing domestic oil and gas reserves. Biogenerics also has joint venture activities with Tyche Energy Inc and Hydroslotter Corp.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.