bobkubecka
1 year ago
https://www.otcmarkets.com/stock/IVRO/news/IVRO-Explores-Opportunity-for-Growth?id=380540
IVRO Explores Opportunity for Growth
Press Release | 11/16/2022
Placentia, California--(Newsfile Corp. - November 16, 2022) - InVitro International (OTC Pink: IVRO) today announced it has signed its first Letter of Intent (LOI) to acquire a privately owned, U.S. based testing laboratory. Over many years this laboratory has served IVRO targeted markets profitably and its principals agree that the future is bright for NON-Animal testing.
CEO and Board Chairman, Rich Ulmer, opined, "Following our mission to Make NON-Animal Testing Famous, this initial acquisition effort may be viewed as a great opportunity by other laboratories globally. Acquisitions by public companies can provide an exit strategy for the owners/founders of privately owned laboratories, allowing them to continue to operate their businesses independently, as a wholly owned subsidiary of a public entity. This also provides potential growth opportunities and synergies for IVRO. We believe we can benefit from broader market exposure, faster development of in vitro test technologies, and increased revenue and resources."
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com
Corporate Logo
StockLogistics
1 year ago
Liquidation:
“The table below provides information regarding Officers, Directors, and Control Persons owning 5% or more of the Issuer’s equity securities as of the date of this report’s publication. As of August 1, 2022, there were 22,759,809 shares of common stock issued and outstanding, and there are 0 shares of preferred stock issued and outstanding. Percentage of ownership is based upon these amounts.
Name of Officer/Director and Control Person
Affiliation with Company (e.g. Officer/Director/Owner of more than 5%)
Residential Address (City / State Only)
Number of shares owned
Share type/class
Ownership Percentage of Class Outstanding
W. Richard Ulmer 2, 5 Cathy L. Richmond 3
Irwin J. Gruverman 4 Atul Jhalani 1
Dennis E. Chenoweth, M.D., PhD
Sean Adrean, M.D.
Chief Executive Officer, and Chairman
Chief Financial Officer, and Director
Chairman Emeritus President Director Director
Villa Park, CA Indio, CA
Auburndale, MA Yorba Linda, CA Ventura, CA
Villa Park, CA
Total:
2,800,000 700,000 1,300,676 500,000 1,100,000 0
8,035,676
Common Common Common Common Common Common
Common
12.31% 3.08% 5.72% 2.20% 4.84% 0%
35.34%
Note
Steven A. Pitassi 6
Catherine M. Pitassi Rev. Trust Established September 30, 2019 (1,110,000 shares) Stephanie Sarro, daughter (525,000 shares)
Director
North Providence, RI
1,635,000 (Indirect beneficial ownership)
Common
7.19%
“
“As of June 30, 2022, the Company moved all securities to an investment holding account to convert into cash and cash equivalents; the total liquidation occurred in July 2022 with miscellaneous monies in the money market accounts.”
https://www.otcmarkets.com/otcapi/company/financial-report/341741/content
Thugmuffin
2 years ago
$IVRO IVRO with a Mission to Help Make Non-Animal Testing Famous, Releases Fiscal Q2 2022 ResultsPress Release | 04/26/2022
Placentia, California--(Newsfile Corp. - April 26, 2022) - InVitro International (OTC PINK: IVRO), an established leader in advancing NON-Animal testing technologies, today announced fiscal 2022 year to date and second fiscal quarter financial results. Second quarter sales of $260,219 were up 27% over the same quarter last year; this increased year to date sales to $443,780, now 9.2% ahead of fiscal 2021 sales for the first half. Second quarter suffered a net loss of $24,636 due in large part to a GAAP recent change in reporting unrealized investment gains and losses within a quarter, no longer at the end of the year. Despite this change, our second quarter loss was an improvement of 57% over the same period last year; and our year to date fiscal 2022 net income is a positive $32,303, up 220% from last year. Both fiscal years benefited from PPP's as previously reported.
In describing 1st half results, CEO W. Richard Ulmer said: "IVRO's message is being received well by more laboratories and companies. Recently our core technology was recognized as having met the world's highest regulatory and scientific standards via OECD adoption covering 37 countries, including the U.S. Although it took more than a decade to achieve this goal, we now have the credibility necessary to help new formulations and products reach their markets faster, at lower development costs, with complete confidence & added kindness to animals. More than ever, IVRO views NON-Animal testing as a growth market opportunity thanks to government support, and increased general population awareness. In the U.S., the Humane Cosmetics Act of '21 is now on the floors of Congress, after several years in Committee. Our primary goal remains to accelerate the global shift toward using fewer animals in human safety testing."
InVitro International President, Atul Jhalani, added: "When speaking with partner laboratories as well as companies which have not yet begun to use NON-Animal test technologies, we find increased support for the field and greater emphasis on the importance of OECD adoption of our technology. This bodes well for both animals and our business as the world returns to pre- pandemic conditions. May the movement continue!"
To be added to the Company's email list please click this link or for additional information, please call our investor relations department at 323-380-4500.
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward- looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com
Thugmuffin
2 years ago
$IVRO Stock Repurchase by IVRO's Management Shows Increased Confidence in Future of Non-Animal TestingPress Release | 03/30/2022
Placentia, California--(Newsfile Corp. - March 30, 2022) - InVitro International (OTC PINK: IVRO), a 30+ year leader in providing non-animal testing methods, today announced it has completed the re-purchase of 100,000 shares of its common stock. The terms of this transaction were negotiated in December 2021 with a long-term shareholder.
IVRO President, Atul Jhalani, said "I believe our decision reflects IVRO management's continuing strong belief in the future of NON-Animal testing; worthy of special note, just recently "The Humane Cosmetics Act of 2021" arrived on the floor of the U.S. Congress after many years in Committee. So, our demonstrated enthusiasm is added to that of millions of animal welfare supporters here and around the world. Looking forward, it seems very reasonable to envision in vitro tests increasingly replacing the use of animals. In addition to faster, lower cost safety testing results, more companies now will be able to add kindness to animals as a side benefit of any new formulations."
Chairman and CEO, W. Richard Ulmer, added: "Today we follow a FY '21 stated intention to share more of what and how we do things at InVitro International. A first step in the above transaction required our IVRO Board of Directors to agree that the purchase of these 100,000 shares was a timely and prudent investment, given our cash-rich balance sheet. Next, we required our auditor's pronouncement that these shares when re-purchased remain authorized for issuance. This provided us with confidence that we could find future ways to use them to the benefit of all shareholders. Finally, the purchase was consummated this month."
To be added to the Company's email list please click this link or for additional information, please call our investor relations department at 818-926-5441.
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
(This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.)
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com
AskMuncher
2 years ago
$IVRO IVRO with a Mission to Help Make Non Animal Testing Famous, Releases Fiscal Q1 2022 Results
Press Release | 02/14/2022
Placentia, California--(Newsfile Corp. - February 14, 2022) - InVitro International (OTC Pink: IVRO), a leading provider of non-animal testing methods, today announced revenues of $183,561 and net income of $56,940 for its first fiscal quarter of 2022, ending December 31, 2021, compared to revenues and net income of $201,255 and $67,663, respectively, for its first fiscal quarter of 2021. The first fiscal quarter of 2022 earnings benefitted from its second government PPP loan forgiveness much as it did in first fiscal quarter of 2021 (see www.otcmarkets.com/stock/IVRO/financials).
IVRO Chairman and CEO, W. Richard Ulmer, commented, "Our ability to increase new customer activities and continue to execute on our strategic growth plan despite the global supply chain issues stemming from COVID-19 was possible due to a $1.3 million cash rich and debt free balance sheet. All else being equal, we have no doubt that our financial strength from being a publicly traded company will prove to be the key factor in our ability to meet our strategic goals in what can easily be defined as a highly fragmented marketplace."
IVRO President, Atul Jhalani, added: "The global shift toward non-animal testing continues to gain traction and support from the majority of the planet. This will enable us to implement our strategic plan of expanding our presence in new industries, forming new strategic partnerships, while continuing to focus on generating year-over-year organic growth."
To be added to the Company's email list please click this link or for additional information, please call our investor relations department at 818-926-5441.
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company's technologies by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com
AskMuncher
3 years ago
$IVRO IVRO'S Mission To Help Make Non-Animal Testing Famous Now Searches For Strategic Partners
Press Release | 09/01/2021
PLACENTIA, CA / ACCESSWIRE / September 1, 2021 / InVitro International (OTC PINK:IVRO) announced today that it has taken a first step in its search for strategic partners. IVRO entered into Letter of Intent (LOI) discussions where, although nothing certain can be forecasted, the Company believes results could be instrumental in furthering IVRO's primary mission to "Help Make Non-Animal Testing Famous". This announcement comes on the heels of an outstanding 3rd Quarter (June 30) FY 2021, where sales rebounded 51% over 2nd Quarter, and cash on hand grew to $1.3M.
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com
SOURCE: InVitro International
AskMuncher
3 years ago
$IVRO Invitro International, A Pioneer in Non-Animal Testing Alternatives For Ocular and Dermal Toxicity Releases FY Q1 2021 Results
Press Release | 02/10/2021
PLACENTIA, CA / ACCESSWIRE / February 10, 2021 / InVitro International (OTCPINK:IVRO) is pleased to announce net income of $67,663 in its first fiscal quarter of 2021, ending December 31st, 2020. This represents a 40% increase compared to net income of $48,177 from prior year's first quarter. Although revenues were negatively impacted by Covid-19, our profitable quarter was the result of a PPP loan charge in fiscal year 2020 that was forgiven in the first fiscal quarter of 2021. For details, please see our audited financial statements (www.otcmarkets.com/stock/IVRO/financials).
In our continuing effort to address recent shareholder requests, this is our second in a planned series of investor communications with more qualitative information about the company; e.g., background events regarding how in vitro testing originated; what is happening today to advance our cause around the world; and noteworthy increased public opinion against animal testing.
Our Mission
Do you ever wonder if your daily use products were tested on live animals?
For more than a quarter of a century, IVRO's mission has been to reduce the number of animals used in laboratory testing via replacement in vitro (Latin: "in glass") test technologies. Our plant-based predictive core test technology has recently been reviewed and adopted at the highest scientific OECD (Organization for Economic Co-operation and Development) regulatory level. Ocular Irritection® Test Guideline (OECD TG496) is now accepted in 37 countries, including the U.S., where in recent years, legal protection has become necessary for in vitro tests to replace live animals.
IVRO President, Atul Jhalani, commented: "First fiscal quarter is traditionally slow for us, and this year it has been further negatively impacted by Covid-19. One bright spot was that we were able to virtually-train several new laboratory and customer partners to conduct eye and skin irritation testing. As they adopt the Irritection® Assay System (IAS) in their practices, this represents potential kit revenues for us. On the regulatory front, recently, China relaxed animal testing requirements for several cosmetic and personal care products. It is the 2nd largest beauty market in the world, and we expect a brighter future with our Chinese partner as "non-animal" testing takes hold."
IVRO CEO and Chairman W. Richard Ulmer added, "We continue to develop our company with the addition of Mr. Steven Pitassi to our Board of Directors. In 2014, Steve was named one of the top ten managers in the US by "On Wall Street Magazine." Prior to retirement, Steve helped Janney Montgomery Scott grow the assets of his office from $560M to over $2B in fourteen years. We at IVRO are actively seeking funds for our next phase of growth and product development. Steve's extensive expertise in the financial markets and fundraising should help us accelerate this process tremendously."
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. This technology is commercialized through test kits and laboratory services globally.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by forward-looking statements. These risks and uncertainties include but are not limited to acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions, and other competitive factors. The forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com
SOURCE: InVitro International
View source version on accesswire.com:
https://www.accesswire.com/628763/Invitro-International-A-Pioneer-in-Non-Animal-Testing-Alternatives-For-Ocular-and-Dermal-Toxicity-Releases-FY-Q1-2021-Results
Lazarus
5 years ago
Australian cosmetic animal test ban bill passes Senate after government commits additional reinforcement measures to Humane Society International
Story Here
How this relates to Invitro:
InVitro International is a pioneer in the development and application of proprietary non-animal testing alternatives for the determination of eye irritation, skin irritation and skin toxicity. The Company develops and markets in vitro assay kits and systems to detect, rank, and predict the potential level of irritancy, toxicity or corrosivity of substances to human eye and/or skin tissue. An “in vitro” assay measures a substance of clinical interest without the use of live animals or animal tissue. The results may be either qualitative, as in “yes/no”, or quantitative, as in measuring the impact of a particular substance in a tested sample.
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