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[QUOTE]Originally posted by Livinonklendathu: [QB] CalbaTech Announces Six Month Revenues; LifeStem, Initially in California, Expects to Launch Service in Florida, New York, North Carolina and Other States in the Near Term 8/15/2006 IRVINE, Calif., Aug 15, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- CalbaTech, Inc. (OTC Bulletin Board: CLBE), an emerging life sciences company (http://www.CalbaTech.com ) concentrating on providing products and platforms to the biotech and pharmaceutical research market and to academic institutions, and banking of adult stem cells for possible future therapeutic uses, today announced its second quarter financial results. Revenues for the first six months of 2006 totaled $655,122, up five percent from the same period in 2005. Revenues were down slightly in the second quarter, dropping from $310,525 in 2005 to $242,558 in 2006 because of down time while the Company moved two subsidiaries into a new facility. Gross profit increased and totaled $205,377 in the second quarter of 2006 compared to $129,665 in 2005. Accounting for derivative liability recognition caused the company to achieve net revenues of approximately $13,000 for the six-month period, as compared to a loss of approximately $2.2 million for the same period in 2005. The Company also announced that LifeStem, its wholly owned subsidiary, presented its Stem Cell MicroBank(TM) Service at a national convention of medspa owners and anticipates launching its MicroBank(TM) Service in Florida, New York, North Carolina and other states soon after the August 15th, 2006, California launch date. LifeStem is projecting $3.9 million in revenues in the first twelve months of operating the nation's first service to collect micro-quantities of adult stem cells from multiple tissue sources for future potential therapeutic use. James DeOlden, CalbaTech CEO, said the Company anticipates that revenues will increase throughout the balance of 2006, not only due to launching LifeStem's Stem Cell Microbank(TM) Collection Service, but also due to two subsidiaries, Molecula, Inc. and KD Medical, Inc., having combined operations to be more efficient and having moved into a new facility that should increase quality and improve manufacturing capabilities. [/QB][/QUOTE]
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