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.