Sangui Biotech: Sluggish Revenue Development Continues / Comprehensive Cost Containment Program under Preparation / Joachim Fleing Stepped Down

WITTEN, Germany--()--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.

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.

Contacts

Sangui Biotech International, Inc.
Thomas Striepe
Tel: +49 (179) 7963472
Fax: +49 (2302) 915191
e-mail: info@sangui.de

Website

Sangui Biotech