Navigation Links
Oxygen Biotherapeutics, Inc. Files 10-K for Fiscal Year Ended April 30, 2009
Date:8/12/2009

DURHAM, N.C., Aug. 12 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) today announced that the company has filed its annual report on Form 10-K for the fiscal year ended April 30, 2009. In addition to being available from the Securities And Exchange Commission website at www.SEC.gov, the 10-K can be downloaded from the company website at www.oxybiomed.com via the SEC Filings link on the Investors page.

For the year ended April 30, 2009, the company incurred a loss of $33,218,840 compared to a loss of $6,721,168 for the previous fiscal year. The increase in net loss is attributable primarily to an increase of approximately $5 million in general and administrative expenses and a one-time, non-cash charge of $24,856,041 for interest expense. The Form 10-K should be read for full details of these expenses.

"During the fiscal year we converted most of the five-year convertible debentures, reflected as long term debt on our balance sheet, to equity. In doing so, we eliminated all of the related interest obligation and the related discounts on this debt. When we eliminated our obligation we had to take a non-cash charge against income in the amount of the interest we would have had to pay had this conversion not occurred," said Chris Stern, company chairman and CEO. "Most of that finance charge comes from financings from before 2008 that had drastic warrant clauses. Now, with these obligations eliminated, our balance sheet is much stronger. Combined with the recent financing agreement with Vatea Fund, we are in a financial position where we believe we have the working capital necessary to fund our operations and development pipeline and sustain the company until we generate revenue."

For additional comments by Chris Stern, please see his latest blog entry which will be posted today on the company website at www.oxybiomed.com.

About Oxygen Biotherapeutics, Inc.

Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and Defense Medicine(TM). The company has under development a perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product (Oxycyte(R)) and has out-licensed an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs as well as medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including traumatic brain injury, sickle cell crisis, trauma, wound care, decompression sickness, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, diabetes wounds and ulcers, and cosmetic applications. More information is available at www.oxybiomed.com.

Caution Regarding Forward-Looking Statements

This news release and the Blog referenced in this news release, which is posted on the company website, contain forward-looking statements by Oxygen Biotherapeutics, Inc. that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include those referring to sufficiency of the company's working capital and related matters. Actual events or results may differ from Oxygen Biotherapeutics' expectations. There can be no assurance that the company's working capital will be sufficient to fund operations in fiscal year 2009-2010, nor that positive cash flow or income will result from an Oxycyte licensing agreement, product sales or royalties. Additional information concerning these and other risk factors affecting Oxygen Biotherapeutics' business can be found in the company's public report filings with the Securities and Exchange Commission, which are available on the SEC website at www.sec.gov and through our website at www.oxybiomed.com. Oxygen Biotherapeutics 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.


'/>"/>
SOURCE Oxygen Biotherapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Oxygen Biotherapeutics, Inc. Announces Closing of Private Placement Financing Agreement
2. Brain Monitor Eliminates Need for Routine Oxygen With Propofol - Friedberg's Triad Unveiled
3. Oxygen Biotherapeutics, Inc. Signs Supply Agreement for Clinical-Grade Oxycyte for Clinical Trials and Future Needs
4. Oxygen Biotherapeutics, Inc. CEO Posts New Blog Entry
5. Webcast Alert: Oxygen Biotherapeutics, Inc. Investor Meeting in Zurich, Switzerland
6. Oxygen Biotherapeutics, Inc. Adds Oxycyte TBI Clinical Trial Sites in Israel
7. Oxygen Biotherapeutics, Inc. Expands Board of Directors
8. Bion Announces Approval of New Australian Patent for Low Oxygen Organic Waste Bioconversion for Livestock Waste Environmental Treatment
9. Sangart, Inc. Completes Enrollment in Second Phase III Study of Hemospan, a Novel Oxygen Transport Agent
10. Finesse Introduces TruFluor(TM) DO, a Single-Use Optical Dissolved Oxygen Sensor and Transmitter
11. Senexis and O2H (Oxygen Healthcare) Announce Medicinal Chemistry Collaboration
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... , Feb. 11, 2016  Vermillion, Inc. (NASDAQ: ... gynecologic disease, today announced the formation of the Steering ... --> --> Pelvic masses can ... diagnosis and management. Once pregnancy is ruled out, pelvic ... and ovaries, advanced endometriosis, benign ovarian tumors and gastrointestinal ...
(Date:2/11/2016)... New York, NY (PRWEB) , ... ... ... International (BPI), a business-to-business publication dedicated to delivering cutting-edge information focused on ... GE Healthcare Life Sciences to become a premier sponsor of the 2016 ...
(Date:2/11/2016)... ... February 11, 2016 , ... Global Stem Cells Group, ... Bankok,Thailand-based Global Stem Cells Network (GSCN) to distribute exosome injection and other biological ... Mexico, Costa Rica, Dominican Republic, Colombia, Argentina, Nicaragua, Panama, El Salvador, Venezuela, Peru, ...
(Date:2/10/2016)... NX Prenatal Inc., a US based ... for early warning of adverse pregnancy outcomes, announced ... by Dr. Thomas McElrath of Brigham ... Medicine,s (SMFM) annual meeting held in ... The presentation reported initial positive top-line results regarding ...
Breaking Biology Technology:
(Date:2/1/2016)... 2016  Wocket® smart wallet ( www.wocketwallet.com ) announces the launch of ... Fatone . Las Vegas , where Joey appeared ... Las Vegas , where Joey appeared at the Wocket ... video ad was filmed at the Consumer Electronics Show (CES2016) in ... to meet and greet fans. --> ...
(Date:1/25/2016)... , Jan. 25, 2016  Glencoe Software, the world-leading ... and publication industries, will provide the data management solution ... (NPSC). ... Phenotypic analysis measures the ... organisms, allowing comparisons between states such as health and ...
(Date:1/20/2016)... LONDON , Jan. 20, 2016 A ... positioned to directly benefit from the explosion in genomics ... from Howe Sound Research. A range of dynamic trends ... ...... - personalized medicine - pharmacogenomics - pathogen ... economies with large markets - greater understanding of the ...
Breaking Biology News(10 mins):