Created: 08/09/2006 01:11:14 PM -
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July 24, 2006 - 8:31 AM EDT
Lifeline Biotechnologies, Inc. Establishes Record Date for Solos Endoscopy Stock Dividend
Lifeline Shareholders to Be Issued a Solos Endoscopy Stock Dividend Based on the Shares They Hold as of August 18th
Lifeline Biotechnologies, Inc. (PINKSHEETS: LBTN) today announced that it has established the record date for the issuance of a special stock dividend to its shareholders.
Lifeline Biotechnologies, Inc. shareholders of record as of August 18th, 2006 will receive 1 new share of Solos Endoscopy, Inc. (PINKSHEETS: SLSE) for approximately every 100 shares of LBTN they own as of the record date. Lifeline Biotechnologies shareholders will maintain their stock ownership of LBTN and will receive a dividend in Solos Endoscopy, Inc., a leading medical instrumentation company with worldwide distribution to major hospitals, surgical centers, and physician's offices. For each shareholder, as of the record date August 18th, 2006, Lifeline will deliver an Information Statement under the Securities Exchange Act of 1934 describing the terms and conditions of the special dividend distribution and the business of Solos Endoscopy.
Solos Endoscopy, Inc. has obtained medical assets from Lifeline Biotechnologies Inc for $4 million in restricted shares of Solos Endoscopy, Inc. The medical assets will include the MastaScope(TM), First Warning System(TM), OvaScope(TM), and the inventory and intellectual properties relating to those products. Lifeline Biotechnologies will also receive compensation, in the form of a royalty, once sales of the MastaScope(TM), First Warning System(TM), and OvaScope(TM) exceed $4 million.
"This Dividend is a bonus for our loyal shareholders. The dividend will give our shareholders ownership in Solos Endoscopy, which in turn will allow them to still have an investment in the medical technology that Lifeline created," stated Jim Holmes, President of Lifeline Biotechnologies.
About Solos Endoscopy, Inc.:
Solos Endoscopy, Inc. is a healthcare technology company whose mission is to develop and market breakthrough technology, applications, medical devices, and procedural techniques for the screening, diagnosis, treatment and management of medical conditions. Backed by technical support, Solos' sales team can help make the right buying decisions for the hospital, surgery center, or physician office. Additional information is available on the Company's website at: www.solosendoscopy.com.
About Lifeline Biotechnologies, Inc.:
Lifeline Biotechnologies develops and acquires undervalued companies which have innovative technology in the Medical, Nutraceutical, and Energy Industries, to increase the growth of the Company. Lifeline Biotechnologies continues to seek out and capitalize on emerging technologies that will change the medical community.
More information is available at the company's website: www.lbtn.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
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