Biomagnetics Diagnostics Corporation (BMGP) Provides Investor Update on Spin Off of Low Carbon Diesel Project – Moves into Financing Due Diligence Phase  
4/5/2011 10:08:55 AM

SAN FRANCISCO--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, cholera and malaria detection, and other innovative technologies, today announced the Company’s status on its proposed spin off of its low carbon diesel project. Last week, CEO, Clayton Hardman, travelled to China to meet with several potential funding sources interested in moving the project forward. These funding sources have agreed to move into a due diligence process to validate the Company’s proposal.