Lifeline Biotechnologies, Inc. Announces Capital Restructuring for Continued Growth and Potential Acquisitions.RENO, Nev. -- Lifeline life·line n. 1. a. An anchored line thrown as a support to someone falling or drowning. b. A line shot to a ship in distress. c. A line used to raise and lower deep-sea divers. 2. Biotechnologies, Inc. (Pink Sheets:LBTN LBTN Land Based Test Network (Space & Naval War Systems Command) LBTN Low Bandwidth Tactical Network LBTN Link Button ) 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 Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). . 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 See finalization. and executed the Agreement for the, what is anticipated to be, final stage development of its interpretive in·ter·pre·tive also in·ter·pre·ta·tive adj. Relating to or marked by interpretation; explanatory. in·ter  pre·tive·ly adv. 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 Breast Biopsy Definition A breast biopsy is removal of breast tissue for examination by a pathologist. This can be accomplished surgically, or by withdrawing tissue through a needle. 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 FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. 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: www.lbtn.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : This release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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