New York, NY, April 11, 2006 --(
PR.com)-- New Life Scientific, Inc (NWLS), today announced that at the special meeting of the Board of Directors a decision was made to re-evaluate its current progress and review its future options being considered include reviewing opportunities to acquire, license, and/or joint venture various medical, pharmaceutical, biotech products and medical devises. Management is also evaluating the status of current subsidiaries and making a determination of progress and alternatives for the Company. The Company plans to employ outside business consultants and seek the advice of investment bankers to assist in this process.
About New Life Scientific, Inc. (NWLS): New Life Scientific, Inc. was formed with the intent to develop and commercialize novel biotech/pharmaceutical products including vaccines and stem cells based treatment modalities and to expand through our own research, collaborations, acquisitions and in-licensing. NWLS utilizes its strategic geographical positioning in Europe to seek undiscovered, emerging and under-valued biotechnologies in the countries of Eastern Europe, with the further intent of their commercialization.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.
Contact:
Contacts:
Henry Val
New Life Scientific, Inc.
732-252-8085
www.newlifesci.com
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