(MENAFNEditorial) EATONTOWN, NJ / ACCESSWIRE / August 22, 2017 / (OTC PINK: CRYO) a leading strategic developer, marketer and global licensor of patented adipose tissue-based cellular technologies for the Regenerative and Personalized Medicine industries, today released summary financial highlight information regarding the Company's nine months ending June 30, 2017 versus the same nine month period in fiscal 2016, :
The Company was profitable for the first time for the quarter. For Q3 2017, the Company showed Net Income of $11,532. The Company's Total Revenue increased 269%; from $438,304 to $1,181,979, for the nine month period Fiscal 2017 versus Fiscal 2016. Cost of Revenue as a percentage of Revenue decreased from 56% to 35%, for the nine month period in Fiscal 2017 versus Fiscal 2016. Professional fees (principally legal and accounting) decreased to $55,898 in the nine month period in Fiscal 2017 as compared to $107,566 in Fiscal 2016. The Company's cash position increased to $91,494 for the period ended June 30, 2017 as compared to $37,313 for Fiscal 2016. Anthony Dudzinski, COO stated, "We have seen a continued increase in our processing volume revenue for our ATGRAFT tissue storage platform, as well as from individuals storing their stem cells during the quarter ended June 30, 2017. This revenue contributed to the Company's outstanding results for the nine month period. We continue to expand our domestic physician network base and seek new international territories with licensees seeking to establish our adipose tissue (fat) based collect-process-store and stem cell platform in their country."
About American CryoStem Corporation
American CryoStem Corporation (OTC PINK: CRYO) was founded in 2008, and has evolved to become a biotechnology pioneer, standardizing adipose tissue derived technologies (Adult Stem Cells) for the fields of Regenerative and Personalized Medicine. The Company operates a state-of-art, FDA-registered, clinical laboratory in New Jersey and licensed laboratories in Hong Kong, China and Tokyo, Japan, operating on our proprietary platform, dedicated to the collection, processing, bio-banking, culturing and differentiation of adipose tissue (fat) and adipose derived stem cells (ADSCs) for current or future use in regenerative medicine. CRYO maintains a strategic portfolio of intellectual property (IP) that surrounds our proprietary technology which supports a growing pipeline of stem cell applications and biologic products. We are leveraging our proprietary platform and a developed product portfolio to create a domestic and global footprint of licensed laboratory affiliates, physicians networks and research organizations who purchase tissue collection, processing and storage consumables from our Company. Our laboratory stem cell bank/line products are characterized adult human Mesenchymal Stem Cell (MSC's) derived from adipose tissue that work in conjunction with our 13 patented (non-animal) medium lines. The Company's R & amp;D efforts are focused on university and private collaborations to discover, develop and commercialize ADSC therapies by utilizing our standardized collection-processing-storage methodology and laboratory products combined with synergistic technologies to create jointly developed regenerative medicine applications and intellectual property.
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SOURCE: American CryoStem Corporation
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