LAGUNA HILLS, Calif., May 14 LifeStemInternational, Inc., (OTC Bulletin Board: LSTM), formerly CalbaTech, Inc., anemerging life sciences company concentrating on providing products andplatforms to the research market for biotech and pharmaceutical companies andto academic institutions, as well as providing services in the collection,processing and storage of adult stem cells, today announced revenues for thefirst quarter of 2008 ending March 31 totaled $318,853, up from revenues of$311,970 in the same period in 2007.
The Company also announced that its gross profit increased to $195,260 in2008 compared to $159,828 during the same period last year. "Significantly,we were able to decrease operating expenses twenty-four percent to $356,060 inthe first quarter of 2008 compared to $471,922 last year," said James DeOlden,CEO. LifeSteam International announced a loss for the quarter due toadjustments for non-operating, non-cash derivates embedded in the Company'sfinancing instrument.
"The therapeutic possibilities that may be provided by collecting andpreserving healthy adult stem cells on a pre-disease basis may revolutionizethe practice of medicine. The power and promise of stem cell therapies is justemerging, and the corresponding development of new clinical applications andtherapies are expected to follow. LifeStem's Stem Cell Microbank(TM) Servicefocuses on refining existing collection processes that are gaining significantacceptance. The focus will be providing a stem cell collection process andstorage service that maintains adult stem cells for future use and broadensthe availability of a collection and storage service," Mr. DeOlden said. TheCompany's initial client collections through the Stem Cell Microbank(TM),originally scheduled for May 10, have been, at the clients' request,rescheduled for June 20.
About LifeStem International, Inc.
LifeStem International, Inc. (OTC Bulletin Board: LSTM) is the emerginglife sciences company (http://www.lifesteminternational.com), concentrating onproviding products and platforms to the research market for biotech andpharmaceutical companies and to academic institutions, as well as providingservices in the collection, processing and storage of adult stem cells.
Note: Certain statements in this news release may contain"forward-looking" information within the meaning of rule 175 under theSecurities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and aresubject to the safe harbor created by those rules. We use words such as"anticipate," "believe," "expect," "future," "intend," "plan," and similarexpressions to identify forward-looking statements. These statements includingthose related to being in a large and growing market, exhibiting rapid growthcharacteristics, and having a growth strategy, are forward looking statements.These forward looking statements are only predictions and are subject tocertain risks, uncertainties and assumptions. Some of the risks, uncertaintiesand assumptions that could cause actual results to differ materially fromestimates or assumptions in this press release include the risk that we willnot be able to grow our revenues and market share, the risk that our prices donot remain competitive and the risk that we will not achieve profitability.Additional risks are identified and described in the Company's public filingswith the Securities and Exchange Commission, including our most recent Reporton Form 10-KSB, and Reports on Form 10-QSB and Form 8-K. Statements madeherein are as of the date of this press release and should not be relied uponas of any subsequent date. The Company's past performance is not necessarilyindicative of its future performance. The Company does not undertake, and theCompany specifically disclaims, any obligation to update any forward-lookingstatements to reflect occurrences, developments, events, or circumstancesafter the date of su