BBV Vietnam S.E.A. Acquisition Corp. announced that it has signed a non-binding letter of intent with Migami Inc. to enter into a business combination. Pursuant to the provisions of the Company's Articles of Incorporation, the company now has until February 13, 2010 to complete the business combination. If the company is unable to complete the business combination by February 13, 2010, it must liquidate or it can seek shareholder approval to extend the time period to complete a business combination to February 13, 2011.

Migami Inc. has completed a $3 million sub-license agreement with Enerland Corporation, Co, Ltd, for the sale of Bi-Layer Film Strip Technology within the territories of Taiwan and Vietnam. The sub-license is set to expire July 17, 2020. In cooperation with Korea Tobacco & Ginseng (KT&G), Migami Inc. is in the process of building a manufacturing plant in Iiksen, Korea, which will service the bulk of the Pacific Rim. The facility is scheduled for completion at the end of 2008. Until that time, Enerland will acquire the Bi-Layer Film Strip products from HealthSport, Migami's chief Bi-Layer technology partner, which houses a manufacturing facility in Woodland Hills, California.

Migami Inc. has agreed to sublicense its rights to several peptide molecules related to alpha-melanocyte-stimulating hormones to Migami Korea Ltd. (MKL) for $1.5 million and anticipated royalties. The sublicense agreement specifies the territory as South Korea, and the expiration of the patents will effectively terminate the contract. This agreement marks another milestone in Migami's continual sublicensing efforts throughout the Pacific Rim. Once Migami's various technologies are commercialized in a specified territory, Migami generates ongoing revenues from royalties and manufacturing. Migami looks forward to sublicensing this peptide technology in other Asian countries.