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The Company would also like to comment on certain recent news and web site articles that appear to not fully understand the transaction completed on March 10, 2006. Under the terms of an agreement and plan of merger Growth Mergers, Inc. acquired 100% of the capital stock of NEAH Power Systems, Inc., a Washington corporation. Growth Merger then changed its corporate name to Neah Power Systems, Inc. At the time of closing the transaction, Growth Merger was a public company with no business operations or investments and with minimal liabilities. The prior business interests of Growth Merger had been disposed of over four years prior to the acquisition of NEAH Power and such prior businesses had and have absolutely no relationship to or connection with the business of NEAH Power, its management or business.
About Neah Power
Based in Bothell, Washington, NEAH
Power was founded in 1999 to develop direct methanol fuel cells (DMFCs)
using a patented, silicon-based design to provide long-lasting, efficient,
and safe power solutions for mobile electronic devices, in consumer, commercial
and military applications. For more information about Neah Power please
visit http://www.neahpower.com.
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