SOURCE: Lifeline Biotechnologies, Inc.

May 03, 2006 08:31 ET

Lifeline Biotechnologies Completes Stock Dividend Distribution to Shareholders

RENO, NV -- (MARKET WIRE) -- May 3, 2006 -- Lifeline Biotechnologies, Inc. (OTC: LBTN) today announced that the previously declared stock dividend to its shareholders is being prepared and sent from the Company's Transfer Agent, OTC Corporate Transfer Service Co. Inc., or electronically through Depository Trust.

Lifeline Biotechnologies previously noted that the stock dividend would be sent to shareholders of record as of April 14, 2006, with a pay date of May 1, 2006. The Company fully expects that the shares will settle into shareholders' electronic accounts within three to four business days, while physical certificates will take up to a month.

"We are very pleased to complete the final steps and issue the stock dividend to our supportive shareholders. The Company is now focusing its attention on sales of the MastaScope™ and has identified several prospective distributors in South America and Mexico," stated Jim Holmes, CEO of Lifeline Biotechnologies, Inc.

The Company has also announced that it has increased the authorized common stock from 450,000,000 to 995,000,000. "It was necessary for the Company to issue shares to continue the funding required for support of operations and product development," stated Jim Holmes, CEO of Lifeline Biotechnologies, Inc.

About Lifeline Biotechnologies, Inc.

Lifeline Biotechnologies, Inc. is a company with innovative medical technologies committed to the improvement of the quality of life through exceptional health care systems. These technologies focus on prevention, early detection, diagnosis and quick recovery of a number of disease conditions. The company's technologies, designed to assist in the early detection of cancers, deal with cutting edge innovation to assist practicing physicians in the delivery of quality medical care. The MastaScope™ is used to assist in the early detection of cancer and other abnormalities of the breast. The MastaScope™ has completed development and has entered the marketplace in the US and internationally. The First Warning System™ for assisting in the early detection of breast cancer and the OvaScope™ for assisting in the early detection of ovarian cancer are continuing to be developed by the company. More information is available at the company's website: www.lbti.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 Information

  • Contact:
    Big Apple Consulting USA, Inc.
    for Lifeline Biotechnologies, Inc.
    Investor Relations
    Rodney Marvel
    407-884-0444
    or 1-866-THE-APPLE