Fiscal Year End 2022 | Fiscal Year End 2021 | ||
Sales | 4,229,126 | 4,856,169 | |
Net Income | (551,627) | 211,702 | |
Income per common share - basic | (0.16) | 0.06 | |
- diluted | (0.16) | 0.06 | |
Weighted avg. common shares | |||
Outstanding - basic | 3,432,478 | 3,432,478 | |
- diluted | 3,432,478 | 3,432,478 |
Overall, this year’s results are a reflection of the continued uncertainty in the world with respect to the COVID pandemic and the African Swine Fever. However, cash reserves and working capital remain strong and sales of key products are starting to return.
The market for Iron Dextran was significantly weakened due to a swine fever epidemic in
”While the pandemic continues to be of concern, we continue to receive orders from Europe,” noted
He continued, “We are cautiously optimistic about the growing interest in our Native Dextran for industrial uses, due to its significant potential because of reduced processing times and less government regulation. We have begun shipping product as a result of our earlier announced relationship with Termanox, to use Native Dextran in place of harmful chemicals in water cooling systems, which is just one of the new applications in development for the product.”
“We are also focusing on our Dextran Powder product and other new market opportunities with potential, including a collaboration with an American-based company to develop higher quality product for use in wider applications,”
The Company’s publicly traded shares continue to be quoted on the OTC Pink Sheet platform (www.otcmarkets.com/stock/POLXF/quote).
The company continues full disclosure of its financial and operational results, which can be accessed by visiting the company website at www.Polydex.com. Product information is available at www.dextran.ca
Company website: www.Polydex.com
Note: This press release may contain forward-looking statements, within the meaning of the United States Securities Act of 1933, as amended, and the United States Securities Exchange Act of 1934, as amended, regarding
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