RENO, Nev., Sept. 30, 2011 /PRNewswire/ -- Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) announced today that the Company continues efforts to reestablish DTC services.
Jim Holmes, Lifeline's CEO said "While our efforts have continued to reestablish DTC's services to the Company we have not been successful. We now are considering alternatives should the circumstances not change.
The value of Lifeline is not reflected in the current lack of liquidity (low per share market price and low daily volume of shares traded). Lifeline's investment in First Warning Systems has not diminished; in fact, First Warning's value has appreciated as established milestones have been achieved. Our focus in First Warning is preparation for the final round of clinical trials estimated to commence in the latter half of 2012. At this time, our best estimate for trial completion is late 2013. The trails must be successfully completed before our FDA medical device marketing application is submitted in the U.S."
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, the ability to obtain financing, successful development of the Company's product or market acceptance of the product and regulatory and shareholder approval for anticipated actions.
SOURCE Lifeline Biotechnologies, Inc.