DENVER--(BUSINESS WIRE)--Lifeline Therapeutics, Inc. (OTCBB:LFLT), maker of Protandim®, today announced that it intends to restate certain of its previously filed financial statements to reflect changes to investments in patents and goodwill. As previously reported in the Company’s earnings announcement of August 22, 2006 and Form 10-KSB for the fiscal year ended June 30, 2006 filed September 27, 2006, the Company has been in discussions with the Securities and Exchange Commission Staff on resolution of accounting issues in connection with the Staff’s review of the Company’s pending registration statement on Form SB-2. As a result of these discussions, the Company and its auditors have determined that it is appropriate to restate the Company’s financial statements for the fiscal years ended June 30, 2006 and 2005, that are included in the Form 10-KSB, in connection with the Company’s acquisition of a 19% ownership position in Lifeline Nutraceuticals Corporation (LNC) in March 2005 in the following respects:
