$PBIO - PBI’s Chairman of the Board, Mr. Jeffrey
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Posted On: 12/31/2019 2:05:42 PM
$PBIO - PBI’s Chairman of the Board, Mr. Jeffrey N. Peterson, added: “In addition to the vigorous growth expected in our PCT applications, we are particularly enthusiastic about our newest strategic sectors of unique pressure technology applications, building upon our BaroFold technology (refolding protein therapeutics into their required optimal configurations) and our Ultra Shear Technology platform (stable and fully absorbable nanoemulsions of oil-based nutrients in water). We have recently demonstrated the capabilities of our new high throughput UST production prototype for prospective clients and partners, who were stunned by the product absorption and silky texture advances that we offered to their existing product formulations. Our initial purchase orders for the first generation BaroShear K45 UST nanoemulsion system are now being eclipsed by accelerating demand for system purchase quotations, particularly to solve critical dosing efficiency and consistency challenges in the cannabis/CBD industry.”
Mr. Peterson further noted: “We believe UST-produced nanoemulsions will make all kinds of oils effectively and safely water soluble and long-term stable. We believe the impact of this technology will quickly become profound in the breadth and scale of markets that it can transform, and the market leaders that it can create in this process. This has been the primary driver behind our previous guidance showing PBI sales more than doubling in 2020, reaching or exceeding $6M.”
Financial Results: Q3 2019 vs. Q3 2018 (Rounded to nearest hundred except earnings per share)
Products and services revenue was $501,200 for the 2019 third quarter compared to $461,000 for the same quarter of 2018, a 9% increase. Sales of consumables were $112,000 for the third quarter of 2019 compared to $43,400 for the same period in 2018, a 158% increase. Sales of instruments totaled $185,800 in Q3 2019 compared to $250,200 in Q3 2018, a decrease of 26%. Contracted scientific services for protein refolding (“BaroFold”) applications and Ultra-Shear Technology™ (“UST™”) services provided revenue of $149,200 in Q3 2019, compared to $79,800 in Q3 2018, an increase of 87%. We reported no grant revenue in the third quarter of 2019 compared to $60,800 of grant revenue in the same quarter of 2018.
Total revenue for the third quarter ended September 30, 2019 was $501,200 compared to $521,766 for the same period in 2018, a 4% decrease. This decrease was primarily due to the loss in grant revenue, and our shift of resources into building up our commercial UST platform readiness for 2020 and beyond.
Operating loss for Q3 2019 was $1,069,000 compared to $933,400 for the same period in 2018, an increase of 15%. This increase was primarily due to the loss in grant revenue, increased use of investor relations services, non-cash stock compensation, and employee costs relating to a new chief commercial officer with related travel for business development.
Loss per common share – basic and diluted– was $(2.20) for Q3 2019 compared to loss per common share of $(2.01) for the same period in 2018.
https://www.bloomberg.com/press-releases/2019...ess-update
Mr. Peterson further noted: “We believe UST-produced nanoemulsions will make all kinds of oils effectively and safely water soluble and long-term stable. We believe the impact of this technology will quickly become profound in the breadth and scale of markets that it can transform, and the market leaders that it can create in this process. This has been the primary driver behind our previous guidance showing PBI sales more than doubling in 2020, reaching or exceeding $6M.”
Financial Results: Q3 2019 vs. Q3 2018 (Rounded to nearest hundred except earnings per share)
Products and services revenue was $501,200 for the 2019 third quarter compared to $461,000 for the same quarter of 2018, a 9% increase. Sales of consumables were $112,000 for the third quarter of 2019 compared to $43,400 for the same period in 2018, a 158% increase. Sales of instruments totaled $185,800 in Q3 2019 compared to $250,200 in Q3 2018, a decrease of 26%. Contracted scientific services for protein refolding (“BaroFold”) applications and Ultra-Shear Technology™ (“UST™”) services provided revenue of $149,200 in Q3 2019, compared to $79,800 in Q3 2018, an increase of 87%. We reported no grant revenue in the third quarter of 2019 compared to $60,800 of grant revenue in the same quarter of 2018.
Total revenue for the third quarter ended September 30, 2019 was $501,200 compared to $521,766 for the same period in 2018, a 4% decrease. This decrease was primarily due to the loss in grant revenue, and our shift of resources into building up our commercial UST platform readiness for 2020 and beyond.
Operating loss for Q3 2019 was $1,069,000 compared to $933,400 for the same period in 2018, an increase of 15%. This increase was primarily due to the loss in grant revenue, increased use of investor relations services, non-cash stock compensation, and employee costs relating to a new chief commercial officer with related travel for business development.
Loss per common share – basic and diluted– was $(2.20) for Q3 2019 compared to loss per common share of $(2.01) for the same period in 2018.
https://www.bloomberg.com/press-releases/2019...ess-update
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