Provexis has improved its interim revenues even before launches of Fruitflow products by By-Health in China.
Fruitflow is a scientifically proven heart health functional food ingredient. The Chinese revenues could be many times the current group revenues. Five studies have been completed in China and they provide strong evidence for regulatory submissions.
In the six months to September 2019, revenues grew from £194,000 to £222,000. Most of this comes from commercial partner DSM Nutritional Products.
The rest comes from sales via Holland and Barrett, Amazon and the Provexis website.
The underlying loss declined from £154,000 to £126,000. The cash outflow from operating activities was flat at £152,000.
There was £173,000 in the bank at the end of September 2019. In early December, Provexis raised £301,000 at 0.4p each. The share price has subsequently risen to 0.66p.
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