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TC Lifestream Technologies Addresses Shareholder Concern Regarding Suspicious Stock Trading Activity and Share Price
June 29, 2004 06:30:00 (ET)
POST FALLS, Idaho, Jun 29, 2004 (BUSINESS WIRE) -- Lifestream Technologies, Inc. (LFTC, Trade), a leading developer and marketer of consumer cholesterol monitors and professional screening instruments, today released a letter to shareholders to address shareholder concern regarding the recent stock trading activity and share price of the Company's stock. The letter is distributed through this press release in its entirety.
Dear Fellow Shareholders:
I share everyone's disappointment in the recent share price decline. The Company has received a large number of emails and calls regarding this situation and it has been a challenge to return all the calls in a timely manner. Therefore, this communication is intended to address and assuage the concerns expressed in emails and over the phone.
The recent share price decline cannot be simply tied to any recent change in the Company's day-to-day operations since many consider the recent changes to be beneficial in nature. The Company is continuing operations according to its business strategy. With the addition of Walgreen's and the continuation of our awareness programs, we do not anticipate moving away from this strategy. We see nothing that accounts for the recent decline in market capitalization. In fact, operationally, the Company is in better shape today than 18 months ago.
We can only speculate as to any possible external cause for the share price decline. Lifestream recently became aware of the unauthorized listing on the Berlin-Bremen Stock Exchange. Many allegations have recently been discussed in the press regarding a possible arbitrage on U.S. markets leveraging stock that might not exist on the Berlin-Bremen Stock Exchange (BBSE). While these allegations have not been verified, the Company believes the potential downside of the exchange listing could be greater than any benefits being derived. As a result, the Company has sent written demand to the Berlin-Bremen Stock Exchange that it immediately cease trading in the Company's common stock and take whatever measures are necessary to completely delist the Company's common stock from the BBSE.
Our primary strategy to address the current share price decline is to stay on course and operationally grow the Company, building on the fundamentals of revenue growth and profitability. We are confident that, in time, our ongoing operational performance will overcome any external forces negatively impacting the Company's price per share.
Thank you for your ongoing support.
About Lifestream Technologies
The Company developed and currently markets a line of cholesterol monitors to consumers and healthcare professionals that provide test results in three minutes.
The Company's product line aids 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 products also integrate a smart card reader further supporting compliance by storing test results on an individual's personal health card for future retrieval, trend analysis and assessment.
Lifestream's monitors are affordable, hand-held devices that provide users with accurate results in less than three minutes. The product line has been designed to accommodate The Data Concern(TM) Personal Health Card(R), allowing multiple users the ability to store their personal results. Lifestream's 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.
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 June 10, 2004, and in "Item 1 - Our Business," "Item 6 - Our Management's Discussion and Analysis," particularly the discussion under "Risk Factors - Substantial Doubt as to 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, 2003, both 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.
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