LIFEPOINT, INC. INVESTORS GROUP ANNOUNCES
SAGEGROUP STRATEGIES ENGAGEMENT AND OVERALL “COORDINATED
ARMIES STRATEGIC PROGRAM”
Los Angeles, CA; Silver Spring, MD; and
New York City, NY -- October 25, 2005. LifePoint, Inc. Investors
Group announces: a) the engagement of the major business
turnaround firm SageGroup Strategies, Inc.; and b) the launching
of a major overall "Coordinated Armies Strategic Program".
This is the Program under which this LifePoint investors
group is moving forward with SageGroup Strategies and others
in the best interests of LifePoint, Inc. and of its investors,
potential beneficiaries, and other involvees.
LifePoint, Inc. Investors Group is an organized
group of concerned angry investors in LifePoint, Inc., a
publicly-held company. Members of the Group have been involved
in extensive investigations, discussions, and other activity
since 2003, and the Group was formally formed in 2005. The
Group is now proactively moving forward in several ways
concurrently.
LifePoint, Inc. is a company that seemed
to be doing well for several years, then went through some
major negative steps this year and now appears to be out
of business under questionable circumstances. In prior-years'
press releases, LifePoint had described itself as follows:
"LifePoint, Inc., a leader in non-invasive drug diagnostic
technologies and solutions, has developed, manufactures,
and markets the Impact Test System -- a rapid diagnostic
testing, screening, and drug monitoring device for use in
law enforcement and the workplace and, in the future, ambulances,
pharmacies, and home healthcare markets. LifePoint's patented
and proprietary technologies for the use of saliva as a
non-invasive, blood-comparable test specimen, used in conjunction
with the flow immunosensor technology licensed from the
United States Navy, have allowed LifePoint to develop a
broadly applicable, rapid, on-site diagnostic test system.
The first product simultaneously detects drugs of abuse
and alcohol. The initial three target markets -- law enforcement,
industrial workplace, and medical emergency room -- are
estimated to be over $1.6 billion in total opportunity."
SageGroup Strategies, Inc. is the USA's
and world's largest Professional Troubled-Company Specialist
firm, with over 600 professionals based in many offices
located in the USA, Canada, Europe, and Asia. Its Small
Public Companies Division and International Investors Division
are especially knowledgeable and focused on helping small
public companies get out of financial, governmental, managerial,
fraud-related, and other serious trouble and moving forward
well, all in the best interests of these companies and their
American and foreign shareholders. Also, its Religious Sector
Division is very focused on working with and for religious
organizations in the best interests of troubled companies,
wronged investors, and appropriate others.
Chris Ford, a LifePoint, Inc. Investors Group member, stated,
"Some fellow LifePoint investors and I have been very
concerned about the recent major deterioration of the business
aspects and stock price of this company. It is puzzling
how LifePoint could have been evidently moving forward well
for several years, then suddenly goes so bad. Many LifePoint
investors were badly hurt in early 2003 when the stock suddenly
lost most of its value in one day, perhaps because of a
financing problem at that point. The stock price continued
to trend downwards for a couple of years, then went through
another collapse of most of its remaining value earlier
this year, supposedly because of a cash flow problem. At
that time the valuable assets of LifePoint evidently then
went through some questionable steps and are no longer in
the LifePoint corporation in which so many tens of millions
of dollars had been invested."
Mr. Ford continued, "Other LifePoint investors and
I have discussed this at length. Some of us have also contacted
various other involvees in this situation, including those
involved in the recent assets transfers from the LifePoint
corporation. We have been very disappointed by not having
been able to get sufficient information to determine whether
the assets transfers and other devastating events were proper
or improper, legal or fraudulent, and other concerns. This
also has made many of us very suspicious."
Mr. Ford concluded, "Accordingly, a series of steps
have been taken, and more steps will soon be taken. Step
One has been to form the initial LifePoint, Inc. Investors
Group of very concerned and angry current and past LifePoint
investors. Step Two was to have the Group engage SageGroup
Strategies, Inc., the major Professional Troubled-Company
Specialist firm, which has had much experience with very
troubled companies, including relatively small public companies.
Third, the LifePoint, Inc. Investors Group and SageGroup
Strategies have agreed to immediately move forward with
a "Coordinated Armies Strategic Program". The
objectives of this Program include: a) determine what has
truly happened, why, how, when, by whom, etc.; b) try to
determine ways in which LifePoint investors can recover
invested money; c) have LifePoint become more valuable in
the best interests of the investors; d) seek ways that the
Company's developed technology, products, etc. can benefit
society in general, including the medical, law enforcement,
and other specific communities thereof; and e) publicly
expose any wrongdoing and wrongdoers, if any, including
to deter them and others from new wrongdoing."
Chaplain Alvin McKinley, a SGS Religious Sector Division
Co-Manager and a chaplain and/or minister for over 40 years,
added, "The SageGroup Strategies firm as a whole, as
well as each of its divisions, is very committed to proactively
helping people and improving situations in every way that
we can, including as to any humanitarian, social justice,
religious, business, financial, and other manners. And,
SGS's Religious Sector Division is especially focused on
working with and helping religious organizations, persons,
and other entities. The Division plans to participate actively
in improving the LifePoint situation for several reasons,
two key ones being: 1) Certain Seventh-Day Adventist, Jewish,
and other religious organizations have heavily invested
in the LifePoint situation; and 2) The LifePoint technology,
products, etc. have great potential to help many people."
Larry Lindsey, a senior-level SGS Managing Director, a Co-Manager
of SGS's Small Public Companies Division and SGS's Religious
Sector Division, and with over 35 years of helping troubled
companies and investor groups, financing and building companies,
and other complex business experience, explained the newly-initiated
overall Program as follows: "In complex situations
like this, it warrents much more attention and action by
various entities moving forward to remedy this under a "Coordinated
Armies Strategic Program". These various entities include:
a) attorneys focused on legal aspects; b) government entities
at the federal, state, and local levels, including those
focused on securities fraud and other forms of illegal actions
under criminal and civil laws; c) SageGroup Strategies,
focused on financial and business improvement for the Company
and its investors; and d) the media, especiallly those focused
on exposing wrongdoers and wrongdoings. Overall coordination
of this Program is by leaders of the LifePoint, Inc. Investors
Group and SageGroup Strategies."
Mr. Lindsey continued, "SageGroup Strategies is very
committed to helping very troubled companies to get out
of trouble, reorganize in the best ways to move forward,
then to actually move forward strongly. SageGroup proactively
commits its capabilities, credibility, resources, relationships,
and other strengths to these major efforts. We are very
focused on helping this LifePoint situation."
ADDITIONAL INFORMATION:
For additional information, please contact Chris Ford of
the LifePoint, Inc. Investors Group. (Because he is currently
traveling much, he will return phone messages left for him
with Larry Lindsey at 510-8652480.) This press release and
certain expected future LifePoint, Inc. Investors Group
press releases are to be posted in the Articles section
of the SGS website www.SageGroupStrategies.com.
And, some related SGS press releases are to be posted in
the SGS General Press Releases section of that website.