Sangui BioTech International Inc.: Sales of USD 63,429 in the first nine month
- Sales of USD 63,429 in the first nine month
Witten, May, 14 2019: In the first nine months of fiscal year 2019 (to 30/06/2019) Sangui BioTech International Inc. achieved revenues from royalty income of USD 63,429. In the same period of the previous year the comparable revenue amounted to USD 65,273. Due to only slightly lower revenues of the wound spray Granulox, the resulting royalty income in the first nine month of the year remained at the level of the same period of the previous year.
While royalty income in the first half of the year were still higher than in the previous year, royalty income in the third quarter were USD 2,129 lower than in the same period of the previous year. Despite the strong end-of-year business in 2018, royalty income in the first three quarters therefore declined by USD 1,844 or 3% compared to the previous year.
As operating expenses increased USD 48,062 or 20% to USD 291,214 during the period, nine month operating loss increased USD 49,862 to USD 227,785 from the prior year. The operating loss for the third quarter of 2019, on the other hand, increased disproportionately by USD 5,352 compared to the previous year to USD 74,150.
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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