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IVRO(.015)...2015 financials, future looks encouraging....

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Potse   Wednesday, 02/10/16 03:15:03 PM
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IVRO(.015)...2015 financials, future looks encouraging....

22M shares outstanding
$330K market cap
$995K revenue
$650K cash (2.9+ cents per share)

I picked up some shares of IVRO today. The fiscal year 2015 financial results press release last week shows nice improvements in the areas of revenue, earnings and cash. It is possible this could represent a significant turning point in the company's history, as the CEO's statements in the press release seem upbeat/encouraging......


Placentia, CA February 2, 2016 - Today InVitro International (OTC, Pink Sheets, IVRO) reported audited FY 2015 sales of $994,713, up 45% from FY 2014 comparable period. Net income leapt 774% to $232,100 and cash increased 69%

IVRO CEO & President, W. Richard Ulmer, said "The confluence of several positives in our FY 2015 business made this a special year for our company. First, official U.S. Regulatory implementation of the Global Harmonization System (GHS) continued to benefit our Corrositex test technology here and in Europe. Additionally for the first time, Ocular Irritection sales were positively impacted by GHS acceptance in Europe’s REACH program, which over several years will be re-classifying all chemicals used there. Next, our 2014 company relocation along with several new cost saving measures provided important cash growth in 2015. So now looking forward, we believe the pieces will be in place to support promotion of Ocular Irritection should it receive full OECD Regulatory adoption in the near future. Our submission continues to make solid progress in its regulatory review.”

“At InVitro we feel we are moving ever closer to our major goal of corporate sustainability. The 2015 audited financial statements support this feeling and demonstrate the impact of InVitro’s Quasi Reorganization. Because we met the required five consecutive years of profitability, effective October 2014, U.S. Generally Accepted Accounting Principles (GAAP) permitted elimination of accumulated IVRO historical operating losses; thus InVitro achieved a new financial reporting status. As we begin a new year, we remain a dedicated, determined and disciplined team in pursuit of both company and shareholder goals.”


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