VIASPACE Inc. (VSPC.OB) Closes On Purchase of Inter-Pacific, Gaining $5 Million In Revenue and Foothold in Growing Biofuels Market
VIASPACE Inc. has announced the purchase of a controlling interest in Inter-Pacific Arts Corp. (Inter-Pacific). For 2007, Inter-Pacific earned $5 million in unaudited revenues which will now add to the strength of VIASPACE’s balance sheet. Additionally, the strategic Inter-Pacific acquisition makes VIASPACE a player in the production of hybrid, high yield grasses in China. Inter-Pacific holds a license to grow and sell China Giant King Grass in that country. Giant King Grass has value both as animal feed and as a component of biofuels. The Grass grows very quickly, up to twelve feet in height in as little as two…