SAN DIEGO, March 23 /PRNewswire-FirstCall/ -- Bio-Matrix Scientific Group, Inc. (OTC Bulletin Board: BMSN), a San Diego-based biotechnology company, today announced that it has received an updated stock buy recommendation from the KonLin Letter, a New York-based investment newsletter (www.konlin.com) published by KonLin Research & Analysis. The investment letter cited BMSN's recent Human Cell Tissue (HCT) Specimen Processing, Testing and Cryogenic Storage contract with NeoCells, Inc. and AdultCells, Inc. as the primary reason for the updated stock buy recommendation.
According to Konrad Kuhn, editor and publisher of the KonLin Letter, the recent BMSN contracts have, "the potential to generate substantial first year as well as ongoing revenues." Kuhn pointed out that BMSN is about to dramatically change as it turns the corner to full commercialization. Kuhn reported in his investment newsletter that, "Winning a major contract demonstrates the substantial progress recently made by BMSN towards generating revenue. The contract's potential to generate revenue for BMSN can positively impact business, expansion and share price, as revenues begin to replace outside investment as the primary source of operating capital."
Kuhn stated that his investment newsletter recommended BMSN in January 2007, "as one of our featured stocks of the year, which rewarded investors with 243% to 550% gains. We would reenter/add/buy once again for an anticipated 1st target of $1.50-$1.70. In the coming years, the focus of research will be stem cell-based cell therapy in a combination of cell and gene therapy techniques. Ultimate target (for BMSN's stock price) is $3.00-$4.00."
Bio-Matrix Scientific Group, Inc. (OTC Bulletin Board: BMSN) is a publicly-traded biotechnology research and development company based in San Diego, Ca. with a 15,000 square foot facility that houses two secure cryogenic stem cell banks, three research laboratories, asceptic cellular/tissue class 10,000/100 processing lab, hematology, microbiology and flow cytometry laboratories. The company also commercializes medical devices and monitoring systems for the growing worldwide stem cell research market.
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
|SOURCE Bio-Matrix Scientific Group, Inc.|
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