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Sangui BioTech International Inc.: Sales of USD 28,915 in fiscal year 2020

·3-min read

DGAP-News: Sangui BioTech International Inc. / Key word(s): Annual Results
01.10.2020 / 13:33
The issuer is solely responsible for the content of this announcement.

Sangui BioTech:
- Sales of USD 28,915 in fiscal year 2020
 


Hamburg, October, 01, 2020: In the fiscal year 2020 (01/07/2019 to 30/06/2020) Sangui BioTech International, Inc. achieved revenues from royalty income and product sales of USD 28,915. In the same period of the previous year the comparable revenue amounted to USD 88,001. Due to decreased revenues of the wound spray Granulox, the resulting royalty income of 2020 decreased by 67% compared to previous year. While revenues in the first half of the year were 78% lower than in the same period of the previous year, the decrease in the second half of the year was weaker at 48%. Responsible for this development were the measures implemented in the financial year to integrate the licensee, SastoMed GmbH, into the Mölnlycke Group. In addition, Granulox sales were negatively impacted by global measures to combat the COVID - 19 pandemic.

As operating expenses decreased USD 215,327 or 51% to USD 210,309 during the period, operating loss decreased USD 156,241 to USD 181,394 from the prior year. The cause of this development was, among others, the cost savings associated with the closure of the Witten site on 30/06/2019.

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
Fax: +49 (40)46093120
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.


01.10.2020 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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