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Pressure BioSciences, Inc. Reports Second Quarter 2014 Financial Results and Provides Business Update
Date:8/14/2014

SOUTH EASTON, Mass., Aug. 14, 2014 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company") today announced financial results for the three and six-month periods ended June 30, 2014, which included record products and services revenue compared to any prior half-year period. The Company also provided a business update.

Revenue from the sale of products and services was $307,464 for the second quarter of 2014 compared to $196,522 for the same period in 2013, an increase of 56%. Sales of consumables were $48,417 for the three months ended June 30, 2014 compared to $26,034 for the same period in 2013, an increase of 86%. Company operations included no grant revenue for the second quarter of 2014 compared to $161,214 for the comparable period in 2013. Total revenue for the second quarter of 2014 was $307,464 compared to $357,736 for the same period in 2013, a 14% decrease. This decrease was due solely to the loss of $161,214 in grant revenue in the second quarter of 2014, offset almost entirely by a 56% increase in products and services revenue, as stated.

Operating loss for the second quarter of 2014 decreased slightly to $846,757 from $858,026 for the same period in 2013. Although total revenue was down for the three months ended June 30, 2014, attributable solely to the loss in grant revenue, we were able to offset the lost margin through continued increases in products and services revenue and strict control of operating costs.

Revenue from the sale of products and services was $711,611 for the six months ended June 30, 2014 compared to $418,092 for the same period in 2013, a 70% increase. Sales of consumables were $103,029 for the six months ended June 30, 2014 compared to $53,258 for the same period in 2013, a 93% increase. Grant revenue for the six month period ended June 30, 2014 was $0 compared to $310,382 for the same period in 2013. Total revenue for the six months ended June 30, 2014 was $711,61
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SOURCE Pressure BioSciences, Inc.
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