As of July 31, 2012, the company had cash and cash equivalents totaling approximately $2.7 million.
Conference Call Dial-In, Webcast Information
Management will host a conference call on Friday, September 21 at 11:00 AM EDT. To access the live teleconference, dial (866)761-0748 (U.S. and Canada), or (617) 614-2706 (international), and enter the passcode 89695133. It will also be available via live webcast in the Investor section on our website www.oxybiomed.com. A replay of the webcast will be available on the Oxygen Biotherapeutics website or by phone for a limited time. To access the replay by phone, call (888) 286-8010 (U.S. and Canada) or (617) 801-6888 (international) for a limited time. The passcode for the replay is 73191252.
OXYGEN BIOTHERAPEUTICS, INC.
(a development stage enterprise)
|July 31, 2012||April 30, 2012|
|Cash and cash equivalents||$||2,691,130||$||1,879,872|
|Government grant receivable||208,873||35,650|
|Other current assets||217,088||162,809|
|Total current assets||3,654,234||2,631,032|
|Property and equipment, net||282,297||293,606|
|Debt issuance costs, net||246,505||278,659|
|Intangible assets, net||881,317||872,971|
|LIABILITIES AND STOCKHOLDERS’ DEFICIT|
|Convertible preferred stock||2,036,667||1,247,266|
|Current portion of notes payable, net||21,223||62,958|
|Total current liabilities||3,998,875||3,126,870|
|Long-term portion of notes payable, net||1,769,443||1,361,110|
|Commitments and contingencies; see Note 7.|
|Preferred stock, undesignated, authorized 9,992,500 shares; see Note 5.||-||-|
Common stock, par value $.0001 per share; authorized 400,000,000 shares; issued and
outstanding 31,066,462 and 29,417,718, respectively
|Additional paid-in capital||110,573,420||107,279,296|
|Deficit accumulated during the development stage||(111,214,826||)||(107,628,284||)|
|Total stockholders’ deficit||(638,299||)||(346,046||)|
|Total liabilities and stockholders' deficit||$||5,130,019||$||4,141,934|
OXYGEN BIOTHERAPEUTICS, INC.
(a development stage enterprise)
STATEMENTS OF OPERATIONS
Period from May 26,
1967 (Inception) to
July 31, 2012
|Three months ended July 31,|
|Cost of sales||315,379||5,911||34,604|
|Net product revenue||166,333||5,547||24,873|
|Government grant revenue||581,064||266,549||-|
|Total net revenue||747,397||272,096||24,873|
|Selling, general, and administrative||48,171,857||1,262,790||1,800,989|
|Research and development||22,712,584||637,272||651,961|
|Loss on impairment of long-lived assets||363,691||-||-|
|Total operating expenses||71,295,608||1,947,538||2,452,950|
|Net operating loss||70,548,211||1,675,442||2,428,077|
|Loss on extinguishment of debt||250,097||-||-|
|Other expense (income)||(1,232,948||)||(14,803||)||5,433|
|Net loss per share, basic||$||(0.12||)||$||(0.12||)|
|Weighted average number of common shares outstanding, basic||30,187,202||23,395,565|
|Net loss per share, diluted||$||(0.22||)||$||(0.33||)|
|Weighted average number of common shares outstanding, diluted||32,362,093||24,143,997|
About Oxygen Biotherapeutics, Inc.Oxygen Biotherapeutics, Inc. is developing medical and cosmetic products that efficiently deliver oxygen to tissues in the body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier called Oxycyte ® that is currently in clinical and preclinical studies for intravenous delivery for indications such as traumatic brain injury, decompression sickness and stroke. The company is also developing PFC-based creams and gels for topical delivery to the skin for dermatologic conditions and potentially wound care. In addition, the Company has commercialized its Dermacyte ® line of skin care cosmetics for the anti-aging market. Caution Regarding Forward-Looking Statements This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. The forward-looking statements are subject to a number of risks and uncertainties including matters beyond the company’s control that could lead to delays in new product introductions and customer acceptance of these new products, and other risks and uncertainties as described in our filings with the Securities and Exchange Commission, including in the current Form 10-Q filed on September 19, 2012, and our annual report on Form 10-K filed on July 24, 2012, as well as other filings with the SEC. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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