Stock Alert for Bioflamex Corp. (BFLX)
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    Penny Stock Spotlight: Bioflamex Corp. (BFLX)

    Shares in Bioflamex Corp. (OTC: BFLX) soared past 249% gains on Tuesday, a day after the developer of “clean tech” and advanced high performance fire prevention and fighting products and systems announced that it has entered into the concluding stages of negotiations with a potential agent covering major Asian markets.

    The stock rallied to close at a new 52-week high of $0.52 as trading volume swelled to over 19 million shares.

    Bioflamex has targeted China, India and Pakistan as significant growth markets for the company, especially for the Bioflamex aerosol extinguishers.  The company cited the growing overall economy in these countries, on top of a rapidly expanding middle class in all markets.

    In the release, the company said its plans contain sales objectives of around $10 million In the said markets by the end of 2014. Bioflamex believes its aerosol extinguishers, for first response against kitchen fires, hold tremendous potential in the three markets, given the nature of cooking traditions where much oil and fat is used.

    Bioflamex said its management has invested time and energy in identifying a suitable agent for the countries in question and it is now clear that one company is especially well suited, due to its deep experience in the industry and strong decision-making networks in all three countries.  “Having a strong partnership is key to success, and the current negotiations represent a significant step to achieve the company’s objectives for the region,” it concluded.

    Following the closing bell yesterday, the Charlottenlund, Denmark-headquartered company announced that its management has planned meetings in Malaysia to conclude negotiations with a general agent prospect covering Malaysia and Indonesia.

    Bioflamex’s conservative projections for the two additional Asian countries show sales of approximately 1 million units by end of 2014, generating estimated revenues in excess of $8 million. The Company believes the potential sales could be double that figure depending on distribution capabilities.

    As in the case of most Asian markets, the cooking traditions in Indonesia and Malaysia, where much oil and fat is used, compose a highly potential market for Bioflamex aerosol extinguishers, the company said.

    Shares in BFLX have risen 253.4% in the last five days; 49.4% in the last month; and 161.5%  year-to-date.

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