Lifeline Biotechnologies, Inc. Reports Operating Profits in Excess of $2,000,000 for the First Three Quarters of 2006 Market Wire "US Press Releases "
RENO, NV -- (MARKET WIRE) -- 11/01/06 -- Lifeline Biotechnologies, Inc. (PINKSHEETS: LBTN) today announced that the Company has reported operating profits of $2,012,098 for the first three quarters of 2006. Lifeline Biotechnologies' unaudited financial statements also show revenues of $2.7 Million , which were generated by the sale of Lifeline's medical products to Solos Endoscopy and other operating sources.
Lifeline Biotechnologies received Solos Endoscopy (PINKSHEETS: SLSE) common stock in exchange for the Company's medical products line. Lifeline recently distributed approximately 13 million shares to qualified (record date 8/18/06) owners of LBTN common stock. Earlier this year, Lifeline Biotechnologies changed its business strategy to include opportunities beyond the medical industry and began to focus on acquiring interest in the Alternate Energy Field.
"This is an exciting day for our Company and our shareholders, as we realize a significant growth in profits, as a result of our years of hard work and commitment. We will continue to seek out revolutionary new medical and alternative energy companies that we can invest in and benefit from," stated Jim Holmes, CEO of Lifeline Biotechnologies, Inc.
Lifeline Biotechnologies, Inc. recently announced that it received approximately 8.3 million shares of TrendSetter Solar Products (PINKSHEETS: TSSP) which represents more than $400,000 in total value which will be added to the company's balance sheet. The acquisition of TrendSetter Solar Products is part of Lifeline's strategy to increase shareholder value by improving its asset valuation and the potential of issuing dividends to its shareholders.
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, nutraceutical, and energy 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.
CONTACT:
Lifeline Biotechnologies, Inc.
Investor Relations
407-884-0444
or
1-866-THE-APPLE
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