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Lifestream Receives Notice of Allowance from the U. S. Patent and Trademark Office; Indicates That a Key Patent Will Be Granted 4/14/2006
POST FALLS, Idaho, Apr 14, 2006 (BUSINESS WIRE) -- Lifestream Technologies, Inc. (OTCBB:LFTC), a leading developer and marketer of consumer cholesterol monitors and professional screening instruments, has received a Notice of Allowance for a key patent from the U. S. Patent and Trademark office that further strengthens its Intellectual Property "IP" portfolio.
"Lifestream received a Notice of Allowance from the U. S. Patent and Trademark Office for its smartcard, secure medical data technology," stated patent counsel, Mike Mehrman. "This action indicates that the patent will be granted after the short period of time required to print the formal patent. This patent will cover Lifestream's Personal Health Card technology, including the unique method in which a person's medical data can be securely stored on a smartcard, as well as the secure storage of medical records on a backside server."
"With the subject of portable health records heating up, Lifestream sees this technology playing a key role in providing secure, portable medical records. The technology has already been licensed to one company, LifeNexus, Inc., and, as soon as the LifeNexus product enters the marketplace, Lifestream will be entitled to receive a royalty," said Matt Colbert, Lifestream's President and CFO.
"The Company's goal has been to secure its IP assets in such a way as to maximize their value to our shareholders through viable technologies. Our creative technical team continues to play a key role in our future success. As we move into the next generation of products, we will strive to be on the leading edge with the application of our technology in products of value to our customers and shareholders. Lifestream has a number of other applications related to our future product offerings," continued Mr. Colbert.
Ed Siemens has been appointed by the Board of Directors to the position of Chairman, and Matt Colbert has been appointed as President and Chief Financial Officer, replacing Christopher Maus, who will remain as a Director with the Company, as well as a consultant to facilitate financing and strategic business development.
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