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Record Consumables Sales, Strong Growth in BaroFold & UST Services, and Barrage of Revolutionary CBD Processing Arrangement Highlight the 2019 Added Quarter; Aggregation Believes Complete Acquirement Will Added than Double in 2020
Investor Appointment Call Scheduled for Thursday, August 15, 2019 at 4:30 PM EDT
SOUTH EASTON, MA / ACCESSWIRE / August 15, 2019 / Burden BioSciences, Inc. (PBIO) (“PBI” or the “Company”), a baton in the development and auction of broadly enabling, pressure-based instruments, consumables, and belvedere solutions to the accepted action sciences industry, today appear banking after-effects for the added division assured June 30, 2019, provided a business update, and offered advice for the butt of FY2019 and for FY 2020.
Financial Results: Q2 2019 vs. Q2 2018 (rounded to abutting hundred except for EPS)
Total acquirement for the added division assured June 30, 2019 was $518,700 compared to $638,800 for the aforementioned aeon in 2018, a 19% decrease. Artefact and casework acquirement was $518,700 for the added division of 2019 compared to $618,400 for the aforementioned division of 2018, a 16% decrease. Apparatus sales decreased to $247,000 in Q2 2019 compared to $397,000 in Q2 2018, a abatement of 38%. Sales of consumables were $91,400 for the added division of 2019 (an best record) compared to $64,100 for the aforementioned aeon in 2018, a 43% increase. BaroFold arrangement casework for protein disaggregation and controlled refolding applications were $69,700 for the 2019 added division compared to $52,600 for the aforementioned aeon in 2018, an access of 32.5%. UST arrangement casework accomplished $41,400 in Q2 2019 compared to $14,300 in the added division of 2018, an access of 197.5%. Admission acquirement in Q2 2019 was none compared to $20,000 in Q2 2018. Our NIH admission assured in November 2018.
Operating accident for Q2 2019 was $1,400,400 compared to $920,900 for the aforementioned aeon in 2018. This access included acknowledged fees for fundraising, added use of broker and accessible relations services, non-cash banal advantage apropos to renewed vesting of banal options, and agent costs apropos to the appoint of a arch bartering administrator with accompanying biking for business development.
Loss per accepted allotment – basal and diluted- was $(2.22) for Q2 2019 compared to accident per accepted allotment of $(9.20) for the aforementioned aeon in 2018. The decreased accident per allotment resulted from the Aggregation recording accounted assets in the above-mentioned year apropos to the benign about-face affection on the Series AA adopted banal and a bulk aegis accouterment triggered on May 2, 2018 by the auction of Series AA adopted stock, affecting Debentures and Warrants to acquirement Accepted Banal captivated by complete Debenture holders.
Financial Results: Aboriginal Bisected (1H) 2019 vs. Aboriginal Bisected (1H) 2018 (rounded to abutting hundred except for EPS)
Total acquirement for the 1H 2019 was $1,028,900 compared to $1,249,500 for the above-mentioned year aforementioned period, a abatement of $220,600 or 18%. This abatement was primarily due to lower acquirement from apparatus sales, as declared below. We accept complete acquirement will access over the complete two abode of 2019. Artefact and casework acquirement decreased to $1,028,900 for the aboriginal bisected of 2019 compared to $1,203,700 for the aforementioned aeon in 2018, a abatement of $174,800 or 15%. Comparing 1H 2019 to 1H 2018, apparatus sales decreased to $385,700 from $817,100, accessible sales added to $153,400 (an best record) from $138,800, BaroFold arrangement casework added to $220,800 from $52,600, and UST arrangement casework accomplished $128,300 compared to $14,300. We accept artefact and casework acquirement will abide to access (YoY) for the complete abode of 2019.
Operating accident was $2,797,000 for the aboriginal six months of 2019, compared to a accident of $2,029,000 for the aforementioned aeon in 2018, an access of $768,000 or 38%. The access included acknowledged fees for fundraising, added use of broker and accessible relations services, non-cash banal advantage apropos to renewed vesting of banal options, and agent costs apropos to the appoint of a arch bartering administrator with accompanying biking for business development.
Net accident per accepted allotment was $(4.24) — basal and adulterated — for the six months assured June 30, 2019 compared to a net accident per accepted allotment — basal and adulterated — of $(11.01) for the aforementioned aeon in 2018. The decreased accident per allotment resulted from the Aggregation recording accounted assets in the above-mentioned year apropos to the benign about-face affection on the Series AA adopted banal and a bulk aegis accouterment triggered on May 2, 2018 by the auction of Series AA adopted stock, affecting Debentures and Warrants to acquirement Accepted Banal captivated by complete Debenture holders.
Recent Operational and Technical Highlights
Launch of our Revolutionary UST-Based Arrangement to Accomplish Aerial Quality, Water-Soluble Nanoemulsions of CBD Oil
Ohio State/PBIO Action to Advance Safer, Added Nutritious, Continued Shelf-life, Clean Label Aliment and Beverages
Expansion of our Afresh Launched BaroFold Arrangement Casework Business
Expanded Applications for our Core Suite of PCT and Connected Pressure-based Instruments
Richard T. Schumacher, President and CEO of PBI, said: “Because of the poor baptize solubility of today’s oil-based CBD products, best ingested CBD is ablaze from the body, abrogation little of the artefact to accommodate its benign properties. After abundant action and analysis, we assured that we accept the ability and acquaintance to auspiciously abode this analytical issue. Consequently, we pulled cogent hours abroad from abounding of our agents over the accomplished few months and had them focus on the development of an apparatus arrangement – based on our patented UST belvedere – that would access the water-solubility, and appropriately the absorption, of CBD Oil. We succeeded; the aftereffect of that success is the BaroShear K45 processing system.”
Mr. Schumacher continued: “The CBD bazaar is accepted to hit $20 Billion by 2024 (BDS Analytics, 2019). There are currently hundreds aloft hundreds of companies in this field. To survive, companies will charge to differentiate themselves from the antagonism by carrying the accomplished affection articles possible. Such articles would assuredly charge to accept aerial water-solubility, absorption, and bioavailability, forth with continued shelf-life and a basal bulk of added chemicals. This is absolutely what we intend to deliver.”
Mr. Schumacher concluded: “We accept already amorphous to pre-sell bound quantities of the BaroShear K45. Units awash over the advancing weeks will be delivered and installed in aboriginal 2020. We accept that such sales will accept a cogent appulse on 2020 complete revenue, potentially consistent in added than alert the complete acquirement of 2019. We added accept that acquirement from our BaroFold belvedere arrangement casework will abide to increase, and that the abatement in PCT belvedere apparatus sales empiric over the accomplished two abode (caused in allotment by our focus on the development of the BaroShear K45) will end, and that we will see an access in PCT artefact sales over the added bisected of 2019, and beyond.”
The Aggregation will authority an Earnings Appointment Call at 4:30 PM EDT on Thursday, August 15, 2019. To appear this teleconference via telephone, Dial-in: (844) 602-0380 (North America), (862) 298-0970 (International). Verbal Passcode: PBIO Added Division 2019 Banking After-effects Call. Replay Number (877) 481-4010 (North America), (919) 882-2331 (International). Replay ID Number: 53312. Teleconference Replay Available for 30 days.
About Burden BioSciences, Inc.
Pressure BioSciences, Inc. (PBIO) is a baton in the development and auction of innovative, broadly enabling, pressure-based solutions for the accepted action sciences industry. Our articles are based on the altered backdrop of both connected (i.e., static) and alternating (i.e., burden cycling technology™, or PCT) hydrostatic pressure. PCT is a patented enabling technology belvedere that uses alternating cycles of hydrostatic burden amid ambient and ultra-high levels to cautiously and reproducibly ascendancy bio-molecular interactions (e.g., corpuscle lysis, biomolecule extraction). Our primary focus is in the development of PCT-based articles for biomarker and ambition discovery, biologic architecture and development, biotherapeutics assuming and affection control, clay & bulb biology, forensics, and counter-bioterror applications. Additionally, above new bazaar opportunities accept emerged in the use of our pressure-based technologies in the afterward areas: (1) the use of our afresh acquired, patented technology from BaroFold, Inc. (the “BaroFold” technology) to acquiesce access into the bio-pharma arrangement casework sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology™ (“UST™”) belvedere to (i) actualize abiding nanoemulsions of contrarily immiscible fluids (e.g., CBD Oil and water) and to (ii) adapt college quality, homogenized, continued shelf-life or allowance temperature abiding low-acid aqueous foods that cannot be finer preserved application complete non-thermal technologies.
Forward Looking Statements
This columnist absolution contains advanced statements. These statements chronicle to approaching contest or our approaching banking achievement and absorb accepted and alien risks, uncertainties and added factors that may account our or our industry’s complete results, levels of activity, achievement or achievements to be materially altered from any approaching results, levels of activity, achievement or achievements expressed, adumbrated or accepted by these advanced statements. In some cases, you can analyze advanced statements by analogue such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” estimates,” “predicts,” “projects,” “potential” or “continue” or the abrogating of such agreement and added commensurable terminology. These statements are alone predictions based on our accepted expectations and projections about approaching events. You should not abode disproportionate assurance on these statements. In evaluating these statements, you should accurately accede assorted factors. Complete contest or after-effects may alter materially. The Company’s banking after-effects for the six months assured June 30, 2019 may not necessarily be apocalyptic of approaching results. These and added factors may account our complete after-effects to alter materially from any advanced statement. These risks, uncertainties, and added factors include, but are not bound to, the risks and uncertainties discussed beneath the branch “Risk Factors” in the Company’s Annual Report on Form 10-K for the year assured December 31, 2018, and added letters filed by the Aggregation from time to time with the SEC. The Aggregation undertakes no obligation to amend any of the advice included in this release, except as contrarily appropriate by law. Due to rounding, numbers presented throughout this and added abstracts may not add up absolutely to the totals provided and percentages may not absolutely reflect the complete figures.
For added advice about PBI and this columnist release, amuse bang on the afterward website link: http://www.pressurebiosciences.com.
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PRESSURE BIOSCIENCES, INC. AND SUBSIDIARYCONSOLIDATED STATEMENTS OF OPERATIONSUNAUDITED
For the Three Months Assured
Products, services, added
Costs and expenses:
Cost of articles and casework
Research and development
Selling and business
General and authoritative
Complete operating costs and costs
(Loss) Gain on concealment of debt
Complete added (expense) assets
Accounted allotment on bottomward annular affection
Accounted allotment on benign about-face affection
Adopted banal assets
Net accident attributable to accepted stockholders
Basal and adulterated net accident per allotment attributable to accepted stockholders
Weighted boilerplate accepted banal shares outstanding acclimated in the basal and adulterated net accident per allotment adding
PRESSURE BIOSCIENCES, INC. AND SUBSIDIARYCONSOLIDATED BALANCE SHEETS
Banknote and banknote equivalents
Accounts receivable, net of $0 assets at June 30, 2019 and December 31, 2018
Inventories, net of $273,547 assets at June 30, 2019 and December 31, 2018
Prepaid costs and added accepted assets
Complete accepted assets
Investment in disinterestedness balance
Property and equipment, net
Right of use asset leases
Intangible assets, net
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Accrued agent advantage
Accrued able fees and added
Added accepted liabilities
Operating charter accountability
Convertible debt, net of unamortized discounts of $360,297 and $156,180, appropriately
Added debt, net of unamortized discounts of $13,833 and $9,118, appropriately
Added accompanying affair debt
Complete accepted liabilities
LONG TERM LIABILITIES
Operating charter liability, net of accepted allocation
Series D Convertible Adopted Stock, $.01 par value; 850 shares authorized; 300 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately (Liquidation amount of $300,000)
Series G Convertible Adopted Stock, $.01 par value; 240,000 shares authorized; 80,570 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately
Series H Convertible Adopted Stock, $.01 par value; 10,000 shares authorized; 10,000 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately
Series H2 Convertible Adopted Stock, $.01 par value; 21 shares authorized; 21 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately
Series J Convertible Adopted Stock, $.01 par value; 6,250 shares authorized; 3,458 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately
Series K Convertible Adopted Stock, $.01 par value; 15,000 shares authorized; 6,880 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately
Series AA Convertible Adopted Stock, $.01 par value; 10,000 shares authorized; 7,518 and 6,499 shares issued and outstanding on June 30, 2019 and December 31, 2018, appropriately
Accepted stock, $.01 par value; 100,000,000 shares authorized; 1,889,616 and 1,684,182 shares issued and outstanding on June 30, 2019 and December 31, 2018 appropriately
Warrants to access accepted banal
Added paid-in basic
Complete stockholders’ arrears
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT
Richard T. Schumacher, President and CEO(508) 230-1828 (T)(508) 230-1829 (F)
SOURCE: Burden BioSciences, Inc.
View antecedent adaptation on accesswire.com: https://www.accesswire.com/556121/Pressure-BioSciences-Inc-Reports-Second-Quarter-2019-Financial-Results-and-Provides-Business-Update
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