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Sangui BioTech International Inc.

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DGAP-News News vom 15.05.2020

Sangui BioTech International Inc.: -Significant cost reductions in the first three quarters - Significant reduction of operating loss -Impairments caused by COVID - 19

DGAP-News: Sangui BioTech International Inc. / Key word(s): 9 Month figures
15.05.2020 / 11:39
The issuer is solely responsible for the content of this announcement.


 

Sangui BioTech:

- Significant cost reductions in the first three quarters

- Significant reduction of operating loss

- Impairments caused by COVID - 19


Hamburg, May, 14 2020: In the first nine months of fiscal year 2020 (to 30/06/2020) Sangui BioTech International Inc. achieved revenues from royalty income of USD 21,176. In the same period of the previous year the comparable revenue amounted to USD 63,429. Due to lower revenues of the wound spray Granulox, the resulting royalty income in the first nine month of the year was significantly below the level of the same period of the previous year.

As operating expenses decreased USD 140,152 or 48% to USD 151,062 during the period, nine-month operating loss decreased USD 97,899 to USD 129,886 from the prior year. The reason for this was cost savings in connection with the closure of the Witten site.

Granulox sales were negatively impacted by global measures to combat the COVID - 19 pandemic from March 2020. At this point in time, it is impossible to predict how long the crisis caused by COVID - 19 will last and what extent it will take. Restricted sales activities can be assumed at least for the duration of the lockdown. For this reason, future sales will also lag behind the planned ones. However, Sangui and the licensee assume that the originally planned growth course can be resumed after the pandemic has been overcome. Before the pandemic, Sangui was largely financed by issuing shares and borrowing. These funding opportunities remain available during the COVID 19 crisis.

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: [email protected]

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.



15.05.2020 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.
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