Sangui BioTech International Inc.: Significant increase in sales in the first quarter; Reduction of operating loss
- Significant increase in sales in the first quarter
- Reduction of operating loss
Hamburg, November, 16 2020: In the first three months of fiscal year 2021 (to 30/06/2021) Sangui BioTech International Inc. achieved revenues from royalty income of USD 19,880. In the same period of the previous year the comparable revenue amounted to USD 282. Due to higher revenues of the wound spray Granulox, the resulting royalty income in the first three month of the year was above the level of the same period of the previous year.
Operating expenses increased USD 8,110 or 14% to USD 64,290 during the first quarter. As a result of the above factors, the three month operating loss decreased USD 11,488 to USD 44,410. Due to the lower exchange rate of the US dollar to the EURO compared to the previous year's reporting date and the resulting increased exchange rate loss from the valuation of loans denominated in EURO, the loss of the first quarter increased by USD 31,984 to USD 75,989.
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 e-mail: firstname.lastname@example.org
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