SanguiBioTech: Revenues Attain USD 133,000 in Financial Year 2014
September 25 2014 - 6:00AM
Business Wire
For its financial year 2014 (ended June 30, 2014) Sangui BioTech
International, Inc. reports revenues from product sales and
royalties in the amount of USD133,470 USD after USD105,487 in the
previous financial year. This increase is primarily attributable to
royalties on sales of the Granulox wound dressing, marketing and
sales of which are out-licensed to SastoMed GmbH, a joint venture
company in which Sangui holds a stake of 25%. Revenues in the
fourth quarter of the 2014 financial year came in at USD43,729 USD
(Q4/2013: USD24,056). 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 increased to USD543,071 (FY
2013: USD65,010). The position includes the purchase of a
comprehensive set of clinical data. This also led to the increase
of total operating expenses to USD1.4 million (FY 2013: USD1.3
million). The net result attributable to shareholders amounts to
minus USD1.4 million up from minus USD2.1 million in the previous
financial year when an impairment of receivables in the amount of
USD1.0 million had occurred which had been brought in as capital
into SastoMed GmbH. Cash outflow from operations in the amount of
USD0.8 million (FY 2013: USD0.8 million) and from investing
activities in the amount of USD0.2million (FY 2013: USD0,9 million)
were offset by an cash inflow from financing of USD0.9 million (FY
2013: USD1.4 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.
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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.
Sangui BioTech International, Inc.Joachim FleingPhone:
+49 (179) 7963472Fax: +49 (2302) 915191e-mail: fleing@sangui.de
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