LLBO Lifeline Biotech Inc (CE)

Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) today announced that it is preparing to establish a demonstration site for its First Warning System™ to be located in Reno, Nevada.

Jim Holmes, Lifeline’s CEO, said, “We have filed the financial and corporate information as required by Pink Sheets in order to remove the ‘Stop Sign’ on our Company site. The information includes a balance sheet and income statement as of June 30, 2009.

“Lifeline’s current authorized common stock is 4.95 billion shares of which there are approximately 2.7 billion shares issued and outstanding. Of the outstanding shares, approximately one billion is in the ‘float,’ the balance is owned by insiders and long-term shareholders.

“There have numerous questions concerning the status of our current FDA filing. To our best belief, our hopeful expectation is for a response around the end of September. However, our FDA advisors and consultants have indicated the FDA is running about 30 days behind schedule.”

Lifeline has tentative funding commitments under terms that will be less dilutive than in prior fundings.

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, successful development of the Company’s product, and regulatory and shareholder approval for anticipated actions.

Lifeline Biotech (CE) (USOTC:LLBO)
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Lifeline Biotech (CE) (USOTC:LLBO)
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