Sangui BioTech International Inc.: Sales of USD 16,636 in the first quarter; Costs and loss is further reduced
- Sales of USD 16,636 in the first quarter
- Costs and loss is further reduced
Witten, November, 21 2017: In the first three months of fiscal year 2018 (to 30/06/2018) Sangui BioTech International Inc. achieved revenues from royalty income and product sales of USD 16,636. In the same period of the previous year the comparable revenue amounted to USD 9,711. Due to increased revenues of the wound spray Granulox, the resulting royalty income in the first three months increased by 71% compared to the same period of the previous year.
As operating expenses also decreased USD 407 or 1% to USD 78,915 during the period, first quarter operating loss decreased USD 7.610 to USD 62,283 from the prior year. Accordingly, the cash position of the Company during the reporting period improved.
The sales of Granulox are subject to seasonal fluctuations. The quarterly sales of Granulox and associated Sangui licensing income were higher than in the same period of the previous year for the third time in succession. In this respect, Sangui expects revenues for the entire calendar year 2017 as well as corresponding royalties over the same period last year.
Sangui BioTech International, Inc. ("SGBI") is a holding company the shares of which are being traded on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies (OTCQB: SGBI). Companies are current in their reporting and undergo an annual verification and management certification process. Sangui shares also trade on the OTC markets of Berlin and Hamburg-Hannover stock exchanges (symbol: SBH). Its purpose is to provide financing and access to the capital markets for the enterprises of the Sangui group. SanguiBioTech GmbH is a ninety percent subsidiary of Sangui BioTech International, Inc.
For more information please contact: Sangui Biotech International, Inc. Thomas Striepe Fax: +49 (2302) 915191 e-mail: firstname.lastname@example.org
Some of the statements contained in this news release discuss future expectations, contain projections of results of operation or financial condition or state other "forward-looking" information. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and is derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, among many others, the ability of the Company to raise sufficient capital to meet operating requirements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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