SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NO.: 0-24185
Date of Report: February 14, 2006
CENTRAL AMERICAN EQUITIES CORP.
(Exact name of registrant as specified in its charter)
Florida 65-0636168
(State of other jurisdiction of (IRS Employer
incorporation or organization Identification No.)
Hotel Alta Interlink 964, POB 02-5635, Miami, FL 33102
(Address of principal executive offices)
011-506-282-4160
(Registrant's telephone number including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
_ Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
_ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
_ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
_ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS
On February 13, 2006 Central American Equities Corp. and Ostar Pharmaceutical,
Inc. signed a letter of intent regarding an acquisition of Ostar Pharmaceutical
by Central American Equities. Ostar Pharmaceutical owns 60% of Hebei Aoxing
Pharmaceutical Group, which is involved in the business of manufacturing and
distributing analgesic drugs in the People's Republic of China.
A press release describing the letter of intent and the parties is being
filed as an exhibit to this report.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
99 Press release dated February 14, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CENTRAL AMERICAN EQUITIES CORP.
By: /s/ Michael N. Caggiano
Michael N. Caggiano, Chief Executive Officer
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EXHIBIT 99
FOR IMMEDIATE RELEASE
For additional information:
Michael N. Caggiano
+011 (506) 282-4160
888-388-2582
CENTRAL AMERICAN EQUITIES CORP. ANNOUNCES
LETTER OF INTENT TO ACQUIRE OSTAR PHARMACEUTICAL, INC.
MIAMI, FLORIDA. February 14, 2006. Central American Equities Corp. ("CEAQ")
announced today that it has signed a letter of intent to acquire 100% of the
stock in Ostar Pharmaceutical, Inc. ("Ostar"), a Delaware corporation that
owns 60% of the stock of Hebei Aoxing Pharmaceutical Group ("Aoxing"),
a corporation organized under the laws of the People's Republic of China.
Aoxing has developed a patented manufacturing process for a variety of
generic analgesic drugs including oxycodone, pholcodine, naloxone, and
tilidine. Aoxing is one of only a handful of companies in China to be
granted the license to manufacture these drugs. Aoxing is working closely
with the Chinese government to assure their availability throughout China.
Their GAAP audits have been completed by PCAOB registered auditors,
Paritz & Co., who are based in New Jersey.
Mr. Zhenjiang Yue, CEO and Chairman of Aoxing, stated "We are very pleased
that we will become a publicly traded company through this merger transaction
with Central American Equities Corp. We feel it gives our company an
excellent opportunity to grow organically and through acquisitions of
smaller pharmaceutical companies that will compliment our business model."
Michael N. Caggiano, President and CEO of CEAQ, stated, "We have looked
at numerous opportunities to potentially increase shareholder value and
we feel the acquisition of Ostar offers an excellent opportunity. Since
the Chinese analgesic market is heavily regulated by the government, we
believe that Aoxing, as one of the first companies to obtain the license
to manufacture these types of products, will reap the heavy rewards from
this first mover's advantage."
American Union Securities CEO, John Leo, anticipates that the merger between
Ostar and CEAQ will be completed in the next 60 days. American Union
Securities has been retained by Ostar to advise the company on this
transaction and to assist management with the execution of its business
plan over the next twelve months. American Union Securities is a full
service investment-banking firm headquartered in New York.
For additional information please visit the firm's website
http://www.ausbanking.com/.
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