BMGP-boooom news!!!!!!!!!!! - Penny Stocks

matto · Wed, 03-26-2008, 07:06 AM

Biomagnetics to Form Separate Company for Chinese and Asian Operations

ORANGEVALE, Calif., Mar 26, 2008 (BUSINESS WIRE) -- Biomagnetics Diagnostics Corp. (OTC:BMGP) today announced that they are sending a representative to mainland China to meet with Government sponsored fund managers overseeing the development of Chinese based high-tech companies. On the table is a joint venture to further develop and market Biomagnetic's proprietary technology through a separate Chinese based public company which would be partially owned by Biomagnetics and their shareholders.
The company has patented a revolutionary diagnostic system that will detect the presence of any pathogen (including HIV) and delivers test results in minutes (not days or weeks) at a fraction of the cost of other testing alternatives.

"We are very interested in this new program the Chinese government is setting up; it falls within our international corporate development strategy," said Clayton Hardman, President and CEO of Biomagnetics Diagnostics Corp. "To pursue this and other Asian opportunities we will be forming a separate Chinese Corporation (a subsidiary of Biomagnetics Diagnostics) to establish a functioning presence in China. It is our intention to apply to the Shenzhen or Hong Kong stock exchange for trading of the new company's shares, and if successful, distribute a portion of Biomagnetics' shares in the new company to our shareholders through a spinoff stock dividend (subject to market conditions, successful completion of the project and conformity with SEC Regulations)."

The Company defines its markets for the first line of products as public, private laboratories and blood banks. The Chinese deal is an important part of the world marketing plan for Biomagnetics; the world market size for manufacturing alone is $25 billion and the US retail market is $37 billion.

Mr. Hardman also noted that the previously announced negotiations to purchase an interest in Tianjin Automatic Science & Instrument Co. LTD. would be further enhanced by the creation of the new subsidiary. Tianjin Auto Science has been in business over 15 years. By acquiring an interest in Tianjin Auto Science, Biomagnetics Diagnostics will gain access to over 1,250 distributors, a laboratory client base of 10,000 and skilled manufacturing in the business community's most exciting markets.

About Biomagnetics Diagnostics Corporation

Biomagnetics Diagnostics Corporation, a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies, and highly specific and sensitive assays that are qualitative (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.

For more information please visit: Welcome to Biomagnetics Diagnostics Corporation

Forward Looking Statement:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performances of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

SOURCE: Biomagnetics Diagnostics Corp.

CONTACT: Biomagnetics Diagnostics Corp
Paul Hardman, 916-987-7078

Copyright Business Wire 2008
-0-

KEYWORD: United States
China
Asia Pacific
North America
California
INDUSTRY KEYWORD: Technology
Hardware
Health
Biotechnology
Medical Devices
Pharmaceutical
SUBJECT CODE: Contract/Agreement
Product/Service

live2trade · Wed, 03-26-2008, 08:36 AM

This is the news we have been looking for to take us to a double! This stock will be real hot!!!

jconway · Wed, 03-26-2008, 10:43 AM

BMGP has a solid story!! They have a patented revolutionary diagnostic system that will detect the presence of any pathogen (including HIV) and delivers test results in minutes (not days or weeks) at a FRACTION of the cost of other testing alternatives...

jconway · Wed, 03-26-2008, 10:54 AM

Their process - the HTS-MTP, the High Throughput Screening - is pretty short, simple and efficient...technology has come a LONG way!! Very impressive!!

jconway · Wed, 03-26-2008, 11:27 AM

BMGP's picking up steam!! Up 12.5% so far on the day!! Not monster volume but still trading 104,951 shares, up .03!!

jconway · Wed, 03-26-2008, 11:39 AM

Volume's increasing slowly but surely!!

live2trade · Wed, 03-26-2008, 12:22 PM

Looks like its going to be a good run in the near future imo!

jconway · Wed, 03-26-2008, 12:36 PM

I just read this from a 3/19 release for BMGP:

Blood banks receive and test approximately 14 million units of blood annually. Each unit is tested for 9 infectious diseases totaling 126 million diagnostics tests. We hope to bring this new system to market in 2009. The costs of performing these diagnostics including assays, staffing and general overhead which exceeds all revenues. Our system will perform all 9 required tests in a single assay thus substantially reducing the costs blood banks will incur.

Generally speaking all blood banks operate in the red. We believe our new system will save 30 to 40 percent on blood diagnostics and turn their red into black overnight.

This is something you just don't think about!! What a great company!!

jconway · Wed, 03-26-2008, 12:37 PM

I forgot to add the following in my previous comment:

The Company’s (BMGP) second product is a new diagnostic system designed for multi-analyte testing for blood banks titled “SYSTEM AND METHOD FOR DETECTING SPECIFIC BINDING REACTIONS USING MAGNETIC LABELS”. This technology uses a combination of opposing magnetic fields and light refraction.

ballyhoo7511 · Wed, 03-26-2008, 02:54 PM

Talk about "buy on the rumor, sell on the news" -- BMGP stock is bottoming out at .17 today, down 29% (?). I've been doing some DD, is this a worthy jump-in point or is this stock too volatile tight now?

Thanks
Ballyhoo

Wed, 03-26-2008, 07:06 AM	#1 (permalink)
matto Member Join Date: Oct 2005 Location: Rhode Island Posts: 627	BMGP-boooom news!!!!!!!!!!! Biomagnetics to Form Separate Company for Chinese and Asian Operations ORANGEVALE, Calif., Mar 26, 2008 (BUSINESS WIRE) -- Biomagnetics Diagnostics Corp. (OTC:BMGP) today announced that they are sending a representative to mainland China to meet with Government sponsored fund managers overseeing the development of Chinese based high-tech companies. On the table is a joint venture to further develop and market Biomagnetic's proprietary technology through a separate Chinese based public company which would be partially owned by Biomagnetics and their shareholders. The company has patented a revolutionary diagnostic system that will detect the presence of any pathogen (including HIV) and delivers test results in minutes (not days or weeks) at a fraction of the cost of other testing alternatives. "We are very interested in this new program the Chinese government is setting up; it falls within our international corporate development strategy," said Clayton Hardman, President and CEO of Biomagnetics Diagnostics Corp. "To pursue this and other Asian opportunities we will be forming a separate Chinese Corporation (a subsidiary of Biomagnetics Diagnostics) to establish a functioning presence in China. It is our intention to apply to the Shenzhen or Hong Kong stock exchange for trading of the new company's shares, and if successful, distribute a portion of Biomagnetics' shares in the new company to our shareholders through a spinoff stock dividend (subject to market conditions, successful completion of the project and conformity with SEC Regulations)." The Company defines its markets for the first line of products as public, private laboratories and blood banks. The Chinese deal is an important part of the world marketing plan for Biomagnetics; the world market size for manufacturing alone is $25 billion and the US retail market is $37 billion. Mr. Hardman also noted that the previously announced negotiations to purchase an interest in Tianjin Automatic Science & Instrument Co. LTD. would be further enhanced by the creation of the new subsidiary. Tianjin Auto Science has been in business over 15 years. By acquiring an interest in Tianjin Auto Science, Biomagnetics Diagnostics will gain access to over 1,250 distributors, a laboratory client base of 10,000 and skilled manufacturing in the business community's most exciting markets. About Biomagnetics Diagnostics Corporation Biomagnetics Diagnostics Corporation, a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies, and highly specific and sensitive assays that are qualitative (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective. For more information please visit: Welcome to Biomagnetics Diagnostics Corporation Forward Looking Statement: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performances of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. SOURCE: Biomagnetics Diagnostics Corp. CONTACT: Biomagnetics Diagnostics Corp Paul Hardman, 916-987-7078 Copyright Business Wire 2008 -0- KEYWORD: United States China Asia Pacific North America California INDUSTRY KEYWORD: Technology Hardware Health Biotechnology Medical Devices Pharmaceutical SUBJECT CODE: Contract/Agreement Product/Service

Wed, 03-26-2008, 10:43 AM	#3 (permalink)
jconway Join Date: Nov 2007 Posts: 10	BMGP is doing some great things!! BMGP has a solid story!! They have a patented revolutionary diagnostic system that will detect the presence of any pathogen (including HIV) and delivers test results in minutes (not days or weeks) at a FRACTION of the cost of other testing alternatives...

Wed, 03-26-2008, 02:54 PM	#10 (permalink)
ballyhoo7511 Member Join Date: Jan 2008 Posts: 26	Gosh Talk about "buy on the rumor, sell on the news" -- BMGP stock is bottoming out at .17 today, down 29% (?). I've been doing some DD, is this a worthy jump-in point or is this stock too volatile tight now? Thanks Ballyhoo

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Wed, 03-26-2008, 08:36 AM	#2 (permalink)
live2trade Moderator Join Date: Apr 2007 Posts: 174	This is the news we have been looking for to take us to a double! This stock will be real hot!!!

Wed, 03-26-2008, 10:54 AM	#4 (permalink)
jconway Join Date: Nov 2007 Posts: 10	Their process - the HTS-MTP, the High Throughput Screening - is pretty short, simple and efficient...technology has come a LONG way!! Very impressive!!

Wed, 03-26-2008, 11:27 AM	#5 (permalink)
jconway Join Date: Nov 2007 Posts: 10	BMGP's picking up steam!! Up 12.5% so far on the day!! Not monster volume but still trading 104,951 shares, up .03!!

Wed, 03-26-2008, 11:39 AM	#6 (permalink)
jconway Join Date: Nov 2007 Posts: 10	Volume's increasing slowly but surely!!

Wed, 03-26-2008, 12:22 PM	#7 (permalink)
live2trade Moderator Join Date: Apr 2007 Posts: 174	Looks like its going to be a good run in the near future imo!

Wed, 03-26-2008, 12:36 PM	#8 (permalink)
jconway Join Date: Nov 2007 Posts: 10	I just read this from a 3/19 release for BMGP: Blood banks receive and test approximately 14 million units of blood annually. Each unit is tested for 9 infectious diseases totaling 126 million diagnostics tests. We hope to bring this new system to market in 2009. The costs of performing these diagnostics including assays, staffing and general overhead which exceeds all revenues. Our system will perform all 9 required tests in a single assay thus substantially reducing the costs blood banks will incur. Generally speaking all blood banks operate in the red. We believe our new system will save 30 to 40 percent on blood diagnostics and turn their red into black overnight. This is something you just don't think about!! What a great company!!

Wed, 03-26-2008, 12:37 PM	#9 (permalink)
jconway Join Date: Nov 2007 Posts: 10	I forgot to add the following in my previous comment: The Company’s (BMGP) second product is a new diagnostic system designed for multi-analyte testing for blood banks titled “SYSTEM AND METHOD FOR DETECTING SPECIFIC BINDING REACTIONS USING MAGNETIC LABELS”. This technology uses a combination of opposing magnetic fields and light refraction.