Kiwa Bio-Tech Reports 2012 Results
15 Abril 2013 - 12:41PM
Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announced
results for 2012.
There were no net sales for the twelve months ended December 31,
2012, and 2011 respectively. Net losses attributable to Kiwa
stockholders were $1,342,432 and $1,691,319 for fiscal 2012 and
2011, respectively.
During the year ended December 31, 2012, Mr. Wei Li, Chairman
and CEO of Kiwa, advanced the Company net additional capital of
$236,000. As of December 31, 2012, the balance of loans to the
Company by officers and related parties was $3,803,000.
Please refer to documents filed with the Securities and Exchange
Commission for additional information on the results.
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets
innovative, cost-effective, and environmentally safe
bio-technological products for agricultural and natural resources
and environmental conservation. The Company's products are designed
to enhance the quality of human life by increasing the value,
quality and productivity of crops and decreasing the negative
environmental impact of chemicals and other wastes. For more
information about the Company, please review documents filed with
the SEC (www.sec.gov) or visit the Company's website,
www.kiwabiotech.com.
This press release contains information that constitutes
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Any such forward-looking statements involve risk and uncertainties
that could cause actual results to differ materially from any
future results described by the forward-looking statements. Risk
factors that could contribute to such differences include those
matters more fully disclosed in the Company's reports filed with
the Securities and Exchange Commission. The forward-looking
information provided herein represents the Company's estimates as
of the date of the press release, and subsequent events and
developments may cause the Company's estimates to change. The
Company specifically disclaims any obligation to update the
forward-looking information in the future. Therefore, this
forward-looking information should not be relied upon as
representing the Company's estimates of its future financial
performance as of any date subsequent to the date of this press
release.
CONTACT: Investor Relations
Robert Schechter
Equity Communications
212-499-6809
ir4kiwa@hotmail.com
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