KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Biofield Corp. (OTC Bulletin Board: BZET), filed a preliminary information statement (Form PRE 14C) with the SEC on April 2, 2008, reporting that its board of directors and majority shareholder have authorized the amendment of the Company’s Articles of Incorporation to effect an 1 for 10 reverse split of Biofield's Common Stock. The Board believes that the proposed reverse stock split will benefit the Company by increasing the per share market price of its common stock, which is a factor in whether the Common Stock meets investing guidelines for certain institutional investors and investment funds, although there is no assurance that the market price will increase. The SEC has 10 days from the April 2 filing date to comment on the Information Statement. If there are no comments within that 10-day period, the Company will mail the Information Statement to shareholders and the reverse split is anticipated to be effective 20 days from the mailing date. For more information about the reverse split, see our filed Information Statement at http://www.sec.gov/Archives/edgar/data/1007018/000112178108000155/ biofield14c4208v2.htm. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
