This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oxygen Biotherapeutics Reports Financial Results For Fiscal Year 2013

Financial Results:

Through the third quarter of fiscal 2013, we generated product revenue from the sale of Dermacyte® through on-line retailers, physicians and medical spa facilities, and through distribution agreements with unrelated companies. Net product revenue for the years ended April 30, 2013 and 2012 was $49,572 and $49,266, respectively. The decrease in product revenue was primarily due to the elimination of our internal sales force and the suspension of our direct marketing and advertising programs. Gross profit as a percentage of revenue was 53% and 49% for the years ended April 30, 2013 and 2012, respectively. In the fourth quarter of fiscal 2013 we out-licensed the Dermacyte® product line to the cosmetics division of Valor SA of Switzerland.

We also earn revenues through a cost-reimbursement grant sponsored by the United States Army (Grant Revenue). Grant Revenue is recognized as milestones under the grant program are achieved. Grant Revenue is earned through reimbursements for the direct costs of labor, travel, and supplies, as well as the pass-through costs of subcontracts with third-party contract research organizations. For the year ended April 30, 2013, we recorded approximately $1,141,356, a 263% increase over $314,515 in revenue under the grant program for the year ended April 30, 2012.

Total operating expenses for the year ended April 30, 2013 were $6,379,955 compared to $8,583,978 for the same period in 2012. The 26% decrease in total operating expenses was the result of reductions in selling, general and administrative costs, partially offset by an increase in restructuring expense.

Marketing and sales expenses for the year ended April 30, 2013 decreased 73% to $108,165 compared to $393,922 in the prior year. The decrease in marketing and sales expenses for the year was driven primarily by reductions in costs incurred for direct marketing and compensation.

General and administrative (G&A) expenses for the year ended April 30, 2013 decreased 37% to $3,567,980 compared with $5,697,884 in the prior year. The decrease in G&A expenses was driven primarily by reductions in costs incurred for legal and professional fees, compensation, facilities, travel and depreciation and amortization.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs