Sino Bioenergy Updates Shareholders on Quarterly Results
16 May 2013 - 11:20PM
Sino Bioenergy Corp. (OTC Pink:SFBE) (Borse Berlin:3SF) today
released a letter to give current shareholders updates on its
recently released quarterly filing results and company activities.
CEO, Daniel McKinney commented, "We have now started
consolidating the results of our 55% owned Huizhou Biotechnology
'HB' subsidiary this quarter. As promised, HB is delivering
excellent results and is growing revenues." Sales amounted to
US$528,884 from January to March 2013 with agricultural production
costs of US$247,600 and a net profit of US$79,371.
As previously reported, in 2012, the company has leased (660
hectares) farmland in Huizhou, China where HB has planted its super
rice and will start harvesting in July. As a result, we anticipate
Q3 sales to increase to US$3.25 million.
McKinney concluded, "Our HB subsidiary will continue to work
toward expanding production and sales throughout 2013. We
anticipate delivering solid revenues and profits for Q3 and Q4 with
solid profitability for our 2013 results. Our team will be visiting
Cambodia this month to conduct due diligence on the potential
acquisition previously announced on April 11, 2013."
About Sino Bioenergy Corp.
Established in May 2005, Sino Bioenergy Corp. is a Nevada
Corporation that trades on the OTC Pink (symbol: SFBE) and Bourse
Berlin Exchange (symbol: 3SF). Please see our websites at:
www.sinobioenergy.com. Total shares outstanding: 711,915,750 as of
February 13, 2013.
This press release contains forward-looking statements based on
management's expectations and beliefs, and may involve known and
unknown risks and uncertainties and other factors that may cause
the actual results to be materially different from the results
implied herein. Readers are cautioned not to place undue reliance
on the forward-looking statements made in this press release.
CONTACT: Investor Relations:
Dennis Burns
Tel: 567-237-4132
nvestrain@gmail.com
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