Business
Avivagen Inc. Announces Results for the Third Quarter Ending July 31, 2021
Avivagen Inc. Announces Results for the Third Quarter Ending July 31, 2021.
About this update from Avivagen, Inc.
[{"type":"text","content":"\nAvivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, has announced its unaudited financial results for the third quarter of 2021.\n\n“The considerable successes of the past quarter have resulted in arguably the strongest pipeline in Avivagen’s history,” says Kym Anthony, Chief Executive Officer, Avivagen Inc. “We have already begun to deliver on the largest sales volumes in company history, and efforts worldwide are forging high-value relationships with new partners and customers in the Americas and Asia.”\n\nQ3 2021 highlights included:\n\n\nTotal of 8 tonnes in OxC-beta™ orders secured or shipped during the quarter\n\n\nSecured a 4.4-tonne order for OxC-betaTM Livestock from UNAHCO\n\n\nSecured a 500 kg order for OxC-betaTM Livestock from Transformadora\n\n\nShipped 3.5-tonne order from the previously announced 64-tonne recurring order\n\n\n\n\nMoved closer to regulatory approval in Vietnam and China\n\n\nLeveraging existing experience, initiated search for new distribution partners in North America and other key markets globally\n\n\nDuring the quarter Avivagen shipped the first 3.5 tonnes of its previously announced 64 tonne recurring order. However, the revenue on this shipment will be recognized when payment is received, meaning the revenue associated with this shipment is not reflected in the reported Q3 results.\n\nThird Quarter: July 31, 2021, Financial Results\nThe Company’s unaudited Financial Statements for the third quarter ended July 31, 2021 and the accompanying Management’s Discussion and Analysis have been filed on the System for Electronic Document Analysis and Retrieval and are also available via its website (www.sedar.com). The financial information for the third quarter ended July 31, 2021, should be read in conjunction with the Company’s unaudited Financial Statements as well as its Management’s Discussion and Analysis for the third quarter ended July 31, 2021.\n\nThe Company reported revenues of $505,886 ($612,530 in the quarter ending July 31, 2020) and a comprehensive loss of $(1,503,665) ...