DGAP-News
Sangui BioTech International Inc. publishes preliminary figures for first half year
DGAP-News: Sangui BioTech International Inc. / Key word(s): Half Year
Results
Sangui BioTech International Inc. publishes preliminary figures for first
half year
01.02.2016 / 17:00
The issuer is solely responsible for the content of this announcement.
Results
Sangui BioTech International Inc. publishes preliminary figures for first
half year
01.02.2016 / 17:00
The issuer is solely responsible for the content of this announcement.
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Sangui Bio Tech International publishes preliminary figures for first half
year
- Revenues of $ 27,000 in the first half year;
- Increase in Granulox royalty income by 28%
- Cost cutting program is effective
- Sale of minority stake
Witten, Germany, February 1, 2016 - According to preliminary unaudited
figures, Sangui BioTech International Inc. achieved revenues from royalty
income and product sales in the amount of approximately $ 27,000 in the
first half of its fiscal year 2016 (Dec. 31,.2015). The development of
royalty income can be described as positive. Due to increased sales of the
wound treatment product Granulox the resulting royalties increased in the
second quarter by 28% as compared to the first quarter. This development
reflects the successful efforts of the licensee, SastoMed GmbH, to obtain
reimbursement commitments from relevant health insurance companies for
costs caused by the prescription of Granulox, particularly in Europe.
The adopted cost-cutting - and liquidity-protection program has been
implemented successfully in the second quarter of the fiscal year. After
complete implementation costs in a significant amount will be saved per
annum. Accordingly, the breakeven point will be reached considerably
earlier.
Shareholders' equity of SastoMed GmbH was strengthened at the end of
December 2015 by a capital increase by the majority shareholders. Due to
the fact that Sangui BioTech GmbH has not exerted its subscription rights,
the participation rate of Sangui BioTech GmbH of originally 25% was
significantly reduced by the capital increase. Sangui BioTech GmbH sold its
stake in SastoMed GmbH to the co-shareholder at the end of 2015. The
persisting licensing agreement between Sangui BioTech GmbH and SastoMed
GmbH is not affected by this sale.
This above-mentioned first capital increase contributes to further expand
the sales and marketing activities of SastoMed GmbH for its wound treatment
product Granulox at home - and abroad. This measure will have positive
effects on the Sangui BioTech GmbH prospective accruing royalties.
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.
---------------------------------------------------------------------------
01.02.2016 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
---------------------------------------------------------------------------
433549 01.02.2016
Sangui Bio Tech International publishes preliminary figures for first half
year
- Revenues of $ 27,000 in the first half year;
- Increase in Granulox royalty income by 28%
- Cost cutting program is effective
- Sale of minority stake
Witten, Germany, February 1, 2016 - According to preliminary unaudited
figures, Sangui BioTech International Inc. achieved revenues from royalty
income and product sales in the amount of approximately $ 27,000 in the
first half of its fiscal year 2016 (Dec. 31,.2015). The development of
royalty income can be described as positive. Due to increased sales of the
wound treatment product Granulox the resulting royalties increased in the
second quarter by 28% as compared to the first quarter. This development
reflects the successful efforts of the licensee, SastoMed GmbH, to obtain
reimbursement commitments from relevant health insurance companies for
costs caused by the prescription of Granulox, particularly in Europe.
The adopted cost-cutting - and liquidity-protection program has been
implemented successfully in the second quarter of the fiscal year. After
complete implementation costs in a significant amount will be saved per
annum. Accordingly, the breakeven point will be reached considerably
earlier.
Shareholders' equity of SastoMed GmbH was strengthened at the end of
December 2015 by a capital increase by the majority shareholders. Due to
the fact that Sangui BioTech GmbH has not exerted its subscription rights,
the participation rate of Sangui BioTech GmbH of originally 25% was
significantly reduced by the capital increase. Sangui BioTech GmbH sold its
stake in SastoMed GmbH to the co-shareholder at the end of 2015. The
persisting licensing agreement between Sangui BioTech GmbH and SastoMed
GmbH is not affected by this sale.
This above-mentioned first capital increase contributes to further expand
the sales and marketing activities of SastoMed GmbH for its wound treatment
product Granulox at home - and abroad. This measure will have positive
effects on the Sangui BioTech GmbH prospective accruing royalties.
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.
---------------------------------------------------------------------------
01.02.2016 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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433549 01.02.2016
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