Sangui BioTech GmbH press releases:
Sangui BioTech:
- Significant increase in sales in the first three quarters of the year
- Further reduction of the operating loss
Hamburg, May 15, 2023:
In the first nine months of fiscal year 2023 (to 30/06/2023) Sangui BioTech International Inc. achieved revenues from royalty income of USD 70,353. In the same period of the previous year the comparable revenue amounted to USD 58,686. Due to higher revenues of the wound spray Granulox, the resulting royalty income in the first nine-month period of the year increased by 20% compared to the same period of the previous year.
Operating expenses decreased USD 13,476 or 9% to USD 136,905 during the first three quarters of the year. As a result of the above factors, the nine-month operating loss decreased USD 25,143 to USD 66,552. Due to the lower exchange rate of the US dollar to the EURO compared to the previous year's reporting date and the resulting decreased exchange rate losses from the valuation of loans denominated in EURO, the loss of the first three quarters of the year increased by USD 63,319 to USD 116,873.
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.
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