Sangui BioTech International Inc.: - Sales of USD 55,082 in the first half-year; - Costs and loss is further reduced
- Sales of USD 55,082 in the first half-year
- Costs and loss is further reduced
Witten, February, 13 2018 In the first six months of fiscal year 2018 (to 30/06/2018) Sangui BioTech International Inc. achieved revenues from royalty income and product sales of USD 55,082. In the same period of the previous year the comparable revenue amounted to USD 35,508. Due to increased revenues of the wound spray Granulox, the resulting royalty income in the first six months increased by 55% compared to the same period of the previous year.
Both licensing income in the first and second quarters clearly exceeded those of the prior-year periods. For example, the strong year-end business in 2017 led to a rise in second-quarter sales revenues of USD 12,649 or 50% compared to the previous year.
As operating expenses also decreased USD 89,302 or 35% to USD 164,163 during the period, first half years operating loss decreased USD 109,490 to USD 109,125 from the prior year. The operating loss for the second quarter of 2018 decreased by USD 96,386 year-on-year to USD 51,336. Accordingly, the cash position of the Company during the reporting period improved.
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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