Lifestream gets demand for payment on $427,000 in defaulted convertible debentures

By Sheri Kasprzak

New York, Aug. 2 - Lifestream Technologies, Inc. said it received a letter demanding payment on $427,000 in outstanding principal of convertible debentures issued in February 2004.

Alpha Capital AG made the demand for payment.

Under the terms of the default, the company must make a payment 15 days after written notice of a default or else make a mandatory prepayment of 130% of the principal amount.

"At this time, Lifestream does not have the ability to repay this debt," said an 8-K filed with the Securities and Exchange Commission by Lifestream Wednesday.

Based in Post Falls, Idaho, Lifestream manufactures cholesterol-testing devices.

The company's stock advanced by 8.33%, or $0.0005, to close at $0.0065 (OTCBB: LFTC).

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