DGAP-News: Sangui BioTech International Inc. / Key word(s): Quarter Results
- Significant increase in sales in the first quarter
- Reduction of operating loss
Operating expenses increased USD 8,110 or 14% to USD 64,290 during the first quarter. As a result of the above factors, the three month operating loss decreased USD 11,488 to USD 44,410. Due to the lower exchange rate of the US dollar to the EURO compared to the previous year's reporting date and the resulting increased exchange rate loss from the valuation of loans denominated in EURO, the loss of the first quarter increased by USD 31,984 to USD 75,989.
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:
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.
16.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.