TMCnet News
Sangui BioTech: Revenues of USD 127,000 in Financial Year 2015; Net Loss, Cash Burn Reduced; Revenues from Granulox License Fees in EUR Up 34.4%For its financial year 2015 (ended June 30, 2015) Sangui BioTech International, Inc. reports revenues from product sales and royalties in the amount of USD127,469, a decrease of 4.5% as compared to the revenues in the financial year 2014, which came in at USD133,470. Revenues in the fourth quarter were recorded at USD10,909 (Q4/2014: USD43,729). The decrease for the financial year and the quarter is due primarily to a sharp decline in product sales. Royalties from the licensing agreement regarding the wound treatment product Granulox engrossed by SanguiBioTech GmbH in the operating currency EUR, however, increased by 34.4% in the 2015 financial year. Granulox is the first dressing to significantly improve oxygen supply to wounds with poor blood supply and thereby decisively accelerates wound healing. Research and development expenses decreased to USD204,987 (FY 2014: USD543,071). The previous year position included the purchase of a comprehensive set of clinical data. This decrease along with cost saving efforts contributed to a significantly reduced net loss attributable to shareholders in the amount of USD0.7 million (FY 2014: USD1.4 million). Cash outflows from operations wee also reduced and amounted to USD0.6 million (FY 2014: USD0.8 million). They were not fully offset by cash inflows from financing and investing activities which amounted to USD0.5 million (FY 2014: USD0.7 million). Sangui BioTech International, Inc. ("SGBI") is a holding company the shares of which are being traded on the OTCQB marketplace (www.otcmarkets.com: SGBI) and the OTC markets of Berlin and Hamburg-Hannover stock exchanges. 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. 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. View source version on businesswire.com: http://www.businesswire.com/news/home/20150929006767/en/ |
