SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                                    FORM 8-K
                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

                        Date of Report: - March 29, 2001

                                BIORELEASE CORP.
                                 ---------------
               (Exact name of registrant as specified in charter)


    Delaware                 0-15260                   88-0218411
    --------                 -------                   ----------
  Jurisdiction of        Commission File             I. R. S. Employer
    Incorporation             Number                  Identification
                                                          Number

               340 Granite Street, Suite 200, Manchester, NH 03102
               ---------------------------------------------------
                    (Address of principal executive offices)

                         Registrant's telephone number:
                                 (603) 641-8443

Item 5.  Other Events

On February 2, 2001 the Company entered into a non-binding letter of intent with
Electric  Energy Storage  Corporation  ("EES") of Humble,  Texas.  The letter of
intent was subject to  completing a definitive  agreement on or before  February
17th,  such  date  subsequently  extended  to March  3rd,  2001.  Due  diligence
regarding  EES and its  technology  base  continued up to and past the March 3rd
date.  On March 23rd,  2001 the Company  served  notice on EES that it would not
proceed with the reverse  acquisition.  The Company is currently in  discussions
with several companies about a possible business relationship.

                                   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.

                                                   BIORELEASE CORP

                                                  /s/ R. Bruce Reeves, President
                                                  ------------------------------
Dated:        March 29, 2001
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{"company-data": {"conformed-name": "BIORELEASE CORP", "cik": "0000797662", "assigned-sic": "2836", "irs-number": "880218411", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-15260", "film-number": "1583530"}, "business-address": {"street1": "340 GRANITE STREET", "street2": "SUITE 200", "city": "MANCHESTER", "state": "NH", "zip": "03102-4004", "phone": "6036418443"}, "mail-address": {"street1": "340 GRANITE STREET", "street2": "SUITE 200", "city": "MANCHESTER", "state": "NH", "zip": "13102-4004"}, "former-company": {"former-conformed-name": "OIA INC", "date-changed": "19920703"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                                    FORM 8-K
                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

                        Date of Report: - March 29, 2001

                                BIORELEASE CORP.
                                 ---------------
               (Exact name of registrant as specified in charter)

    Delaware                 0-15260                   88-0218411
    --------                 -------                   ----------
  Jurisdiction of        Commission File             I. R. S. Employer
    Incorporation             Number                  Identification
                                                          Number

               340 Granite Street, Suite 200, Manchester, NH 03102
               ---------------------------------------------------
                    (Address of principal executive offices)

                         Registrant's telephone number:
                                 (603) 641-8443

Item 5.  Other Events

On February 2, 2001 the Company entered into a non-binding letter of intent with
Electric  Energy Storage  Corporation  ("EES") of Humble,  Texas.  The letter of
intent was subject to  completing a definitive  agreement on or before  February
17th,  such  date  subsequently  extended  to March  3rd,  2001.  Due  diligence
regarding  EES and its  technology  base  continued up to and past the March 3rd
date.  On March 23rd,  2001 the Company  served  notice on EES that it would not
proceed with the reverse  acquisition.  The Company is currently in  discussions
with several companies about a possible business relationship.

                                   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.

                                                   BIORELEASE CORP

                                                  /s/ R. Bruce Reeves, President
                                                  ------------------------------
Dated:        March 29, 2001