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Lifestream Technologies Signs License Agreements with LifeNexus; Lifestream Sees a Bright Future for the LifeNexus Personal Health Card
Oct 14, 2005 6:30:00 AM Copyright Business Wire 2005 POST FALLS, Idaho--(BUSINESS WIRE)--Oct. 14, 2005--
Lifestream Technologies, Inc. (OTCBB:LFTC), a leading supplier of cholesterol monitors, announced today that it has entered into non-exclusive license agreements with LifeNexus, Inc., to use Lifestream's technology in exchange for future royalties.
"We are pleased to have this opportunity to receive value for this technology, which has no material value to the Company since our current resources are being focused on our core business," stated Christopher Maus, Lifestream's CEO. "This technology has not been commercialized as market conditions were not conducive to support the costs related to an effective rollout. With national attention focusing on revamping the healthcare information system, we believe this arrangement provides an opportunity for Lifestream and its shareholders. LifeNexus has developed an innovative approach to a portable medical record in concert with powerful healthcare financial services creating a viable opportunity for commercializing this technology. We look forward to profiting from its success."
"This arrangement brings considerable value to consumers as the LifeNexus personal health card is a universal solution for the portability of medical records," said Maus. "We wish LifeNexus the best in their endeavors and look forward to future income through royalty payments."
These agreements replace the previous Intellectual Property and Capital Purchase Agreement between the companies, which terminated August 1, 2005.
About Lifestream Technologies
The Company developed and currently markets a cholesterol monitor to consumers and healthcare professionals that provide test results in three minutes.
The Company's products aid the health conscious consumer in monitoring their risk of heart disease. By regularly testing cholesterol at home, individuals can monitor the benefits of their diet, exercise and/or drug therapy programs. Monitoring these benefits can support the physician and the individual's efforts to improve compliance. Lifestream's monitor also integrates a smart card reader further supporting compliance by storing test results on an individual's personal health card for future retrieval.
Lifestream's monitor is an affordable, hand-held device designed to accommodate the Personal Health Card(R) allowing multiple users the ability to store their personal results. Lifestream products are now available in pharmacy and retail outlets nationwide. To find retailers that carry Lifestream's products, go to "Store Locator" on www.knowitforlife.com or contact Customer Care at 888-954-LIFE. For Company information, visit www.lifestreamtech.com.
About LifeNexus, Inc.
LifeNexus, Inc., is a privately-held company focused on the development and marketing of a personal health care on a smart card platform incorporating emergency medical information, emergency medical insurance, accidental life and other financial products.
This news release includes certain forward-looking statements within the meaning of the safe harbor protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties, and in particular statements referring to our expectations for increased market penetration and improved gross margins from our recently introduced second generation consumer monitors and statements regarding our expectations that we can obtain necessary additional financing and investment. These forward-looking statements involve risks and uncertainties that could cause actual results to differ from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions given our knowledge of the relevant markets; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: the success of our capital-raising and cost-cutting efforts, developing and marketing relatively new medical diagnostic devices, including technological advancements and innovations; consumer receptivity and preferences; availability, affordability and coverage terms of private and public medical insurance; political and regulatory environments and general economic and business conditions; the effects of our competition; the success of our operating, marketing and growth initiatives; development and operating costs; the amount and effectiveness of our advertising and promotional efforts; brand awareness; the existence of adverse publicity; changes in business strategies or development plans; quality and experience of our management; availability, terms and deployment of capital; labor and employee benefit costs; as well as those factors discussed in our most recent Registration Statement on Form SB-2 filed May 10, 2005, and in "Item 1 - Business," "Item 6 - Management's Discussion and Analysis or Plan of Operation," particularly the discussion under "Substantial Doubt regarding our Ability to Continue as a Going Concern" and elsewhere in our most recent Annual Report on Form 10-KSB for our fiscal year ended June 30, 2005, all filed with the United States Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in this report, in the aforementioned Form SB-2 and Form 10-KSB, and those detailed from time to time in our other reports and filings with the United States Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that are likely to affect our business.
Source: Lifestream Technologies, Inc.
---------------------------------------------- Lifestream Technologies Inc. Gerri Vance 208-457-9409 ext. 1221 (Investor Relations)
Posts: 1533 | From: jacksonville, nc, usa | Registered: Dec 2004
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The Total Cholesterol Test Packets are used with Lifestream's cholesterol monitors. Each packet contains all you need to perform a whole blood TOTAL CHOLESTEROL test.
Test kit features: Comes with everything needed for testing total cholesterol Supports an innovative dry chemistry process that enables the Lifestream Cholesterol Monitor to measure total cholesterol Needs no refrigeration Sold in convenient six-packs
Each package of six includes: 1 calibration key 1 instructional insert 6 Total Cholesterol Test Packets Each individual test packet contains: 1 test strip 1 alcohol prep pad 1 lancet 1 bandage
6 for 20.00
Posts: 1533 | From: jacksonville, nc, usa | Registered: Dec 2004
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posted
I think we need Mean Joe Green the old Pitts Steelers defensive line to break this steel curtain at .01!!
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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posted
I'm with you at .026. This should be smooth sailing to .07 Lets get some more volume here!
Posts: 421 | From: Florida | Registered: Mar 2005
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I think this one is heading out of penny land. Don't know how long it'll take, but with the news, and everyones worry about cholesterol, this seems like a winner. To be able to check your own levels without starving yourself and no coffee.. (which is a killer for me! LOL) It just seems like a winner to me. Does anyone else see this as leaving pennyland eventually?
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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