Biomagnetics To Begin Engineering Phase of Biosensor Development

SAN FRANCISCO-- Febraury 14, 2011 (BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS: BMGP)a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, Cholera and malaria detection, and other innovative technologies, today announced the Company has prepared form 10 to file with the Securities and Exchange Commission.

Clayton Hardman, CEO of Biomagnetics Diagnostics Corp. states, “Our SEC attorney has completed the necessary application and sent it to Bob Beers at Seale & Beers, CPA’s. As part of SEC regulations, two years of audited financials is required, Seale and Beers, our former auditors will verify that the financials presented in the Form 10 represent a true validation of the audit they performed.”

Mr. Hardman continues, “We have worked very hard to get to this point and look forward to becoming fully reporting and continue meeting our 2011 goals.”

 

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company’s revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies. More information on Biomagnetics Diagnostics Corp. can be seen at www.BiomagneticsBMGP.com.

Contacts:
Paul Hardman, (916) 987-7078
Biomagnetics Diagnostics Corp.