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Oxygen Biotherapeutics Reports First Quarter FY2013 Financial Results

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 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.


(a development stage enterprise)

July 31, 2012 April 30, 2012
Current assets
Cash and cash equivalents $ 2,691,130 $ 1,879,872
Accounts receivable 23,632 13,385
Government grant receivable 208,873 35,650
Inventory 114,137 83,370
Prepaid expenses 399,374 455,946
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
Other assets   65,666     65,666  
Total assets $ 5,130,019   $ 4,141,934  
Current liabilities
Accounts payable $ 835,100 $ 542,809
Accrued liabilities 1,105,885 1,273,837
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  
Total liabilities 5,768,318 4,487,980
Commitments and contingencies; see Note 7.
Stockholders' deficit
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
3,107 2,942
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  


(a development stage enterprise)


Period from May 26,

1967 (Inception) to

July 31, 2012
Three months ended July 31,
2012       2011
(Unaudited) (Unaudited) (Unaudited)
Product revenue


$ 11,458 $ 59,477
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
Operating expenses
Selling, general, and administrative 48,171,857 1,262,790 1,800,989
Research and development 22,712,584 637,272 651,961
Restructuring expense 47,476 47,476 -
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
Interest expense 41,649,466 1,925,903 435,798
Loss on extinguishment of debt 250,097 - -
Other expense (income)   (1,232,948 )   (14,803 )   5,433  
Net loss $ 111,214,826   $ 3,586,542   $ 2,869,308  
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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