HARBOR CITY, CA , March 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Bakhu Holdings, Corp. (OTCPINK: BKUH) recently announced second quarter and six months financial results for the period ended of January 31, 2019.
There were no revenues for the comparable periods in fiscal 2018 or 2017 as management continued its work on a licensing agreement announced in late December 2018. The net loss in the second quarter was $334, primarily for short-term interest expense, which translates to a nil per share net loss. This compares with a net loss of $35,145, equal to a net loss per share of 14 cents for the comparable period in 2017. For the six months period ended January 31, 2019, the net loss was $122,670, equal to less than one cent per share, compared with a net loss of $116,506, or a net loss of 45 cents per share, in the 2017 period. Expenses in the six-months periods were primarily for short-term interest and consulting fees.
There were 71,938,184 weighted average number of shares outstanding in 2018 versus 260,037 in the 2017 period.
As previously announced, 210,000,000 restricted shares of Common Stock of the Company were agreed to for an exclusive license of certain patents and intellectual property associated with technical information to produce phytocannabinoids for use in medical and wellness treatments. The license is with Cell Science, Ltd., Republic of Cyprus. Such shares were noted as a “Subsequent Event” in the current quarterly filings since they were granted in February 2019. These shares will be included in “Weighted Average Number of Shares Outstanding” in accounting for the third quarter ending April 30, 2019.
The full SEC 10-Q filing is on the Company’s website: www.bakhuholdings.com under the “Investors” tab.
About Bakhu Holdings, Corp.
Bakhu Holdings, Corp. (OTCPINK: BKUH) plans to acquire cell extraction related licenses for application in the medical and wellness fields. Company headquarters: 24328 Vermont Avenue, Suite 300, Harbor City, CA 90710. Phone: (310) 891-1959. Website: www.bakhuholdings.com. Text: email@example.com.
This news release may contain forward-looking statements within the meaning of the Securities Act. As a general matter, forward-looking statements may reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business.
These statements may be identified using forward-looking terminology such as "may", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "outlook” and similar expressions. The forward-looking statements contained in this news release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: our business and investment strategy; our projected operating results; estimates relating to our ability to make distributions to our stockholders in the future and economic trends.
CONTACT: GREG McANDREWS & ASSOCIATES Gregory A. McAndrews (310) 804-7037 firstname.lastname@example.org