Business
PURE Bioscience Reports Fiscal First Quarter 2023 Financial Results
PURE Bioscience Reports Fiscal First Quarter 2023 Financial Results.
About this update from Pure Bioscience
[{"type":"text","content":"\nPURE Bioscience, Inc. (OTCQB: PURE) (“PURE,” the “Company” or “we”), creator of the patented non-toxic silver dihydrogen citrate (SDC) antimicrobial, today reported financial results for the fiscal first quarter ended October 31, 2022.\n\nSummary of Results – Fiscal First Quarter Operations\n\n\nNet product sales were $467,000 and $497,000 for the fiscal first quarters ended October 31, 2022 and 2021, respectively. The decrease of $30,000 was attributable to decreased sales across our distribution and end-user network.\n\n\nNet loss for the fiscal first quarter ended October 31, 2022 was $993,000, compared to $796,000 for the fiscal first quarter ended October 31, 2021.\n\n\nNet loss, excluding share-based compensation, for the fiscal first quarter ended October 31, 2022 was $909,000, compared to $606,000 for the fiscal first quarter ended October 31, 2021.\n\n\nNet loss per share was ($0.01) for the fiscal first quarter ended October 31, 2022, compared to ($0.01) for the fiscal first quarter ended October 31, 2021.\n\n\nBusiness Update\n\nCorporate Accounts\n\nPURE Hard Surface has been adopted by multiple potato processing companies, including some of the largest processors in the country. During the first quarter, multiple potato processing locations purchased and installed application equipment to remediate long-standing food safety concerns in their facilities. In addition, PURE’s unique solution has been adopted in eight large snack food and bakery facilities. With multiple trials ongoing, we anticipate growth to continue in the potato, snack food and bakery industries.\n\nAdoption in the dairy segment continues to grow, as we are now servicing several of the largest dairy processors in the country. Our combined efforts with Hydrite Chemical Co. have resulted in six additional locations using PURE Hard Surface to address various environmental concerns prevalent in the dairy industry.\n\nStreet Sales\n\nPURE has now hired two regional managers, one located in the Midwest and the other on the West Coast. The West Coast manager is slated to start at the beginning of the calendar year and has twenty years of chemical sales experience, including sales of PURE products. The regional managers and their respective sales teams will focus on revenue generation across the janitorial, ...