Donlar Biosyntrex Announces Second Quarter Results; Sales Increased by 242%.Business Editors BEDFORD PARK Bedford Park is the name of several places around the world:
Donlar Biosyntrex Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DBSY), a world leader in green chemistry, products and technology, today announced results for the second quarter and six months ended June 30, 2001. Revenues for the second quarter totaled approximately $627,000, a 242% increase from the second quarter of 2000. Product sales in the BioPolymer bi·o·pol·y·mer n. A macromolecule, such as a protein or nucleic acid, that is formed in a living organism. biopolymer any protein or nucleic acid produced by a living organism. segment of the business contributed to the majority of the revenue growth. For the six months ending June 30, 2001, the Company's revenues totaled $1.2 million, for an increase of approximately 116% compared to the same period last year. The Company reported a net loss for the second quarter 2001 of approximately $4.1 million, compared with a net loss in the second quarter of 2000 of approximately $2.9 million. The increase in net loss is attributable primarily to the capital investment of issuing 1.6 million in stock to consultants. This operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. is consistent with the progress of the Company's manufacturing and marketing strategy. Larry P. Koskan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Donlar Biosyntrex, stated, "We are very pleased with this quarter's revenue growth. We are in line with the Company's revenues and growth projections and are making progress in the restructuring of the Company's debt that will be reflected in future financial statements. "This increase in revenues comes at a time when various governments and corporations are becoming more active in recognizing, recommending and implementing environmental solutions. Donlar Biosyntrex's environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] biopolymers not only demonstrate an environmental advantage, but performance testing showed that these biodegradable products exceed most commercially available products. This is apparent in North Sea oil production where we have been in the news recently for the successful development of our green products for reducing costs. Our green chemistry kept the operating system protected and freely working at a competitive price." About Donlar Biosyntrex Donlar Biosyntrex Corporation - a world leader in "green chemistry", is at the forefront of providing unique patented proteins that enable agricultural, industrial and consumer products and processes to be safer, more efficient and environmentally friendly. All products created by Donlar Biosyntrex are non-hazardous, non-toxic, biodegradable and hypoallergenic hy·po·al·ler·gen·ic adj. Having a decreased tendency to provoke an allergic reaction. hypoallergenic (hī´pōal´urjen´ik), adj . The Company's initial product applications are for oilfield operations, fertilizers and diapers. Founded in 1990 and headquartered in Bedford Park, Ill., the Company has more than 130 global patents on its technology and received the first Presidential Green Chemistry Challenge Award from the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and for the development of its environmentally sensitive products. For more information on Donlar Biosyntrex, visit www.donlar.com. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements, which involve a number of risks and uncertainties. The contents of this release should be considered in conjunction with the risk factors in Donlar Biosyntrex's most recent filings with the Securities and Exchange Commission on Forms 10-QSB and 10-KSB and current reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . |
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