Sangui BioTech GmbH press releases:
Sangui BioTech:
- Sales of USD 41,029 in first quarter
- Reduction of the operating loss
- For the first time, positive quarterly result in the company's history
Hamburg, November 11, 2022:
In the first three months of fiscal year 2023 (to 30/06/2023) Sangui BioTech International Inc. achieved revenues from royalty income of USD 41,029. In the same period of the previous year the comparable revenue amounted to USD 18,560. Due to higher revenues of the wound spray Granulox, the resulting royalty income in the first three-month period of the year increased by 121% compared to the same period of the previous year.
Operating expenses decreased USD 4,872 or 8% to USD 57,231 during the first quarter. As a result of the above factors, the three-month operating loss decreased USD 27,341 to USD 16,202.
Due to the higher exchange rate of the US dollar to the EURO compared to the previous year's reporting date and the resulting increased exchange rate gains from the valuation of loans denominated in EURO, a positive quarterly result of USD 24,934 could be achieved for the first time. Compared to the previous year, in which a loss of USD 27,917 had occurred in the comparable period, the quarterly result improved by USD 52,851.
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: info@sangui.de
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.
PDF Download