Biflyx Announces Move to Acquire Two Companies

Preparing to move into full commercial production of its newly developed color video image printer, Santa Ana-based Biflyx said last week that it has signed a letter of intent to acquire Marway Products Inc. and California Metal Masters Inc. for about 30 million shares of Biflyx common stock. Biflyx President Jay Gegenberg said the company’s stock recently has been trading over the counter for about 3 cents a share.

Gegenberg said the proposed acquisition of the two privately owned companies, which also are based in Santa Ana, is intended to give Biflyx, now principally a research and development firm, “production capacity and expertise.” He said the acquisitions are contingent on approval by Biflyx shareholders, who also will be asked to increase the number of authorized shares in the company to 300 million. Biflyx currently has about 56.8 million shares outstanding.

Marway Products manufactures electronic components, including power supplies and power distribution equipment, for the computer industry. California Metal Masters fabricates chassis for the electronics industry. They have combined annual sales of about $2.5 million, Gegenberg said.