DGAP-News
Sangui BioTech: Sluggish revenue development continues
DGAP-News: Sangui BioTech International Inc. / Key word(s):
Preliminary Results/Change of Personnel
Sangui BioTech: Sluggish revenue development continues
28.10.2015 / 12:30
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Sangui BioTech: Sluggish revenue development continues / Comprehensive cost
containment program under preparation / Joachim Fleing stepped down
Witten, Germany, October 28, 2015 - According to preliminary, unaudited
figures Sangui Biotech International, Inc. yielded revenues from royalties
and product sales of around USD12,000 in the course of the first three
months of its 2016 financial year, ended September 30, 2015. In the first
quarter of the 2015 financial year (ended September 30, 2014) revenues
amounted to USD73,740 due to one large order.
According to information provided by global licensee SastoMed GmbH a
significant increase in revenues is not to be expected until the years
2017/2018. The Board of Directors currently works on a comprehensive cost
containment concept in order to adapt the ongoing expenses to the overall
income. Research and development, also in view of the SBT102 and SBT1001
projects, will be under review and stalled if necessary until separate
project financing will become available.
Dr. Joachim Fleing stepped down from his positions as a Director and
Officer of the Company on October 27, 2015, with immediate effect. For an
interim period he has offered to assist the Company with the ongoing
accounting, compliance and stock related activities. The management regrets
this decision. It extended its gratitude for a good and successful
cooperation and its best wishes for his future.
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.
Fax: +49 (2302) 915191
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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28.10.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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406157 28.10.2015
Sangui BioTech: Sluggish revenue development continues / Comprehensive cost
containment program under preparation / Joachim Fleing stepped down
Witten, Germany, October 28, 2015 - According to preliminary, unaudited
figures Sangui Biotech International, Inc. yielded revenues from royalties
and product sales of around USD12,000 in the course of the first three
months of its 2016 financial year, ended September 30, 2015. In the first
quarter of the 2015 financial year (ended September 30, 2014) revenues
amounted to USD73,740 due to one large order.
According to information provided by global licensee SastoMed GmbH a
significant increase in revenues is not to be expected until the years
2017/2018. The Board of Directors currently works on a comprehensive cost
containment concept in order to adapt the ongoing expenses to the overall
income. Research and development, also in view of the SBT102 and SBT1001
projects, will be under review and stalled if necessary until separate
project financing will become available.
Dr. Joachim Fleing stepped down from his positions as a Director and
Officer of the Company on October 27, 2015, with immediate effect. For an
interim period he has offered to assist the Company with the ongoing
accounting, compliance and stock related activities. The management regrets
this decision. It extended its gratitude for a good and successful
cooperation and its best wishes for his future.
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.
Fax: +49 (2302) 915191
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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28.10.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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406157 28.10.2015
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