InvestorsHub Logo
Post# of 13011
Next 10
Followers 224
Posts 48955
Boards Moderated 4
Alias Born 07/23/2003

Re: None

Wednesday, 07/18/2007 9:24:41 AM

Wednesday, July 18, 2007 9:24:41 AM

Post# of 13011

LBTN Lifeline Biotechnologies, Inc. Announces Capital Restructuring for Continued
Growth and Potential Acquisitions

RENO, Nev., Jul 18, 2007 (BUSINESS WIRE) -- Lifeline Biotechnologies, Inc. (Pink
Sheets:LBTN) announced today it will be undertaking a capital restructuring to
better position the Company for growth and expansion. Effective July 31, 2007,
Lifeline Biotechnologies will be implementing a 1 for 1,600 reverse stock split
of its outstanding common stock, subject to completion of regulatory compliance
requirements.

The Lifeline Biotechnologies Board of Directors approved this capital restructure
as a means to position the Company to attract possible acquisition candidates, to
reduce the market volatility that Lifeline Biotechnologies shares have
experienced, and to better represent the Company's current position in the
medical equipment market.

Lifeline Biotechnologies, Inc. recently announced that it has finalized and
executed the Agreement for the, what is anticipated to be, final stage
development of its interpretive First Warning System, a system designed to assist
in the early detection of breast cancer.

About Lifeline Biotechnologies, Inc.:

The Company will focus on completing the development of the First Warning
System(TM), designed to assist in the early detection of breast cancer. The
underlying technology, upon which the First Warning System(TM) is based, holds
the possibility of eliminating over 90% of unnecessary breast biopsies performed
each year providing a potential savings of up to $2.8 billion annually. The First
Warning System(TM) could conceivably eliminate the need for suggested MRIs, a
savings of another $1.3 billion. Of the approximately $138 billion spent on
cancer each year, Lifeline could potentially save the healthcare industry up to
$4.1 billion annually, assuming the following are successfully completed: the
development of the First Warning System(TM), the completion of clinical trials
and the retention of FDA pre-market clearance.

Upon the completion of the aforementioned steps, Lifeline will commence marketing
its early breast cancer detection system. Management's current and best estimate
is that the required steps could take two to four years to conclude. The future
value of the Company could be dependent upon these successes. Lifeline, primarily
focused on the development of the First Warning System(TM), competes in the
financial markets for financing. The market is very competitive and dilution has
occurred as a result of previous funding and may occur in order to secure future
capital. More information is available at the Company's Web site:
http://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.

SOURCE: Lifeline Biotechnologies, Inc.
Lifeline Biotechnologies, Inc.
Investor Relations, 1-866-THE-APPL(E)
http://www.lbtn.com


Copyright Business Wire 2007



Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.