PacWest Equities Inc. (OTCPK:PWEI) signed a letter of intent to acquire solar technology line of CIGS technology from DayStar Technologies Inc. (NasdaqCM:DSTI) on January 21, 2013.

PacWest Equities Inc. (OTCPK:PWEI) signed an agreement to acquire solar technology line of CIGS technology from DayStar Technologies Inc. (NasdaqCM:DSTI) in stock on February 12, 2013. As consideration, PacWest will issue 55 million shares in common stock and 2.7 million series B non- voting preferred shares. The transaction includes the ownership of all of DayStar's solar assets, including their proprietary, differentiated manufacturing process to produce low-cost, monolithically integrated, silicon-free, CIGS-on-glass modules that address the grid-tied, ground-based Solar (PV) market. The deal is subject to the approval of the shareholders of DayStar. The shareholders meeting is expected to take place on or about April 22, 2013.

PacWest Equities Inc. (OTCPK:PWEI) completed the acquisition of solar technology line of CIGS technology from DayStar Technologies Inc. (NasdaqCM:DSTI) on March 25, 2013.