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[QUOTE]Originally posted by Squire38: [QB] CLBE -- 0.045 CalbaTech Announces Increase in Revenue for Nine Months; LifeStem Continuing to Enroll New Medspas to Sell Its Stem Cell MicroBank(TM) Service - $3.58 Million Projection for Revenues for First Year Banking Services - IRVINE, Calif., Nov 15, 2006 /PRNewswire-FirstCall via COMTEX/ -- CalbaTech, Inc. (OTC Bulletin Board: CLBE), an emerging life sciences company (http://www.CalbaTech.com) concentrating on banking adult stem cells for possible future therapeutic uses and providing products and platforms to the biotech and pharmaceutical research markets and to academic institutions, today announced that revenues for the first nine months ended September 30, 2006 totaled $977,444, up three percent compared to the same period in 2005. Net income for the first nine months of 2006 totaled $629,822, or $0.01 per share, compared to a loss in 2005. The net income reported is because of the unrealized gain on adjustment of derivative and warrant liabilities to fair value of the underlying securities relating to the convertible notes CalbaTech obtained in 2005. CalbaTech posted a gross profit of $579,443 for the nine month period, compared to a gross profit of $449,330 for the first nine months of 2005. The Company also announced a significant decrease in operating expenses, from $1.72 million for the nine months ended September 30, 2005 to $1.33 million for the same period in the current year. "We continue to be successful in cutting costs and increasing profitability," said James DeOlden, CEO. In its Form 10-QSB filing, CalbaTech said its wholly-owned subsidiary, LifeStem, (www.life-stem.com) has moved ahead with its roll-out of the Stem Cell MicroBank(TM) Service, collecting adult stem cells for possible future needs, through the Solana Medspas network. LifeStem has begun marketing its service, providing marketing materials to the individual medspas, and has begun providing training to the medspa personnel. In a major positive development, Solana Medspas has entered into a letter of intent with a partner to open 4,000 additional medspas throughout the country within the next four years, all of which potentially would carry LifeStem's banking services. "LifeStem is conservatively projecting $3.858 million in revenues in the first 12 months of operation and $26.3 million during its second 12 months," Mr. DeOlden said. "While we have not processed any clients yet, it is not because of lack of interest. We have received requests for subscription packets, have begun hosting seminars to potential clients, and our Chief Medical Officer, Dr. Jason Van Tassel, M.D. appeared on the radio and the Internet to discuss our service to a significant listening audience. Some of the regulatory, logistical and training issues have taken longer than anticipated, but this is to be expected in a new breakthrough service such as ours." Mr. DeOlden continued, "The therapeutic possibilities that may be provided by collecting and preserving healthy adult stem cells on a pre-disease basis could revolutionize the practice of medicine. The market for stem cell technology has been estimated to grow to $30 billion by the year 2010." [/QB][/QUOTE]
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