OCTL - Registration Statement of Octillion Subsidiary Approved By SEC

[lamborghini]

BW 09:48 OCTL Registration Statement of Octillion Subsidiary Approved By SEC, Allowing For Spin Out Of Subsidiary To Shareholders

Registration Statement of Octillion Subsidiary Approved By SEC, Allowing For Spin Out Of Subsidiary To Shareholders
(Business Wire 12/20 09:48:01)

Business Editors

AUBURN HILLS, Mich.--(BUSINESS WIRE)----
Octillion Corp. (OTCBB: OCTL) today announced that the
registration statement filed by its wholly owned subsidiary,
MicroChannel Technologies Corporation (MicroChannel), has been
declared effective by the Securities and Exchange Commission. The
SEC's action was the prerequisite for the Company's proceeding with
its previously announced distribution of its MicroChannel shares to
Octillion's stockholders as a special dividend on a one for one basis
(the "Distribution").

FINRA/NASDAQ has set an ex-dividend date of December 21, 2007,
with respect to the Distribution. This means that in order to be
entitled to receive shares of the MicroChannel Distribution, you must
be a stockholder of Octillion as of the end of the close of the day
before the ex-dividend date set by FINRA/NASDAQ.

The Board of Directors of Octillion believes that the distribution
of MicroChannel shares is in the best interests of Octillion and its
stockholders; the Board believes that the distribution will enhance
value for Octillion stockholders by permitting its management to focus
entirely on the continuing research and development of its solar
energy technologies, with the expectation that such enhanced efforts
may facilitate the commercialization of products based on its
technologies; the Board also believes that the spin-off of
MicroChannel will provide greater access to capital resources by each
of Octillion and MicroChannel by allowing the financial community to
focus on each of Octillion and MicroChannel (and their respective
businesses) as a stand-alone company.