Pharma-Bio Serv, Inc 8-K, filed Jan 29, 2020
Pharma-Bio Serv, Inc. (PBSV)
8-K
2020-01-29
For: 2020-01-29
View Original
Added on
April 06, 2026
About this 8-K
Pharma-Bio Serv, Inc filed this 8-K on January 29, 2020.
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM
8-K
CURRENT REPORT
PURSUANT
TO SECTION 13 or
15(d) OF THE
SECURITIES EXCHANGE
ACT OF 1934
Date of report
(Date of earliest event reported): January 29,
2020
Pharma-Bio
Serv, Inc.
(Exact Name of
Registrant as Specified in Its Charter)
Delaware
(State or Other
Jurisdiction of Incorporation)
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0-50956
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20-0653570
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(Commission File
Number)
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(I.R.S. Employer
Identification No.)
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6 Road 696, Dorado,
Puerto Rico
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00646
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(Address of
Principal Executive Offices)
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(Zip
Code)
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(787)
278-2709
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(Registrant’s
Telephone Number, Including Area Code)
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(Former Name or
Former Address, if Changed Since Last Report)
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Check the
appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
☐ Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act: None
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check
mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b2 of the Securities Exchange Act of 1934
(17 CFR §240.12b2).
Emerging growth
company ☐
If an emerging
growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02
Results of Operations and Financial Condition
On January 29,
2020, Pharma-Bio Serv, Inc. (the “Company”) issued a
press release announcing its results of operations for the year
ended October 31, 2019. A copy of the press release is furnished as
Exhibit 99.1 to this report
The information
furnished pursuant to this Item 2.02, including
Exhibit 99.1, shall not be deemed “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), or otherwise subject
to the liabilities under that section and shall not be deemed to be
incorporated by reference into any filing of the Company under the
Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such
filing.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit
No.
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Description
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Press Release,
dated January 29, 2020
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2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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PHARMA-BIO SERV,
INC.
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Date: January 29,
2020
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By:
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/s/ Pedro J.
Lasanta
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Pedro J.
Lasanta
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Chief Financial
Officer, Vice President Finance and Administration and
Secretary
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3
Exhibit
99.1
Pharma-Bio Serv Announces Results for the Year Ended October 31,
2019
January 29, 2020
DORADO, PUERTO RICO / ACCESSWIRE / January 29, 2020 /
Pharma-Bio Serv, Inc. ("Pharma-Bio
Serv" or the "Company") (OTCQB: PBSV), a compliance, project
management and technology transfer support consulting firm that
provides services to the pharmaceutical, biotechnology, chemical,
medical device, cosmetic, food and allied products industries,
today announced revenues from continuing operations for the year
ended October 31, 2019 were $19.5 million, an increase of $1.7
million, or 9.6%, when compared to last year.
Net income from continued operations for the year ended October 31,
2019 was approximately $2.1 million, an improvement of $3.3 million
when compared to last year. This improvement includes last
year’s non-recurring 2018 US Tax Reform $2.7 million
Transition Tax charge recorded in February 2018.
In September 2018, we sold the assets of our laboratory segment.
After considering last fiscal year’s $2.5 million net income
from discontinued operations and related gain on segment
disposal and
last year’s non-recurring 2018 US Tax Reform Transition Tax,
our net income for the year ended October 31, 2019 of approximately
$2.1 million had an improvement in earnings of approximately $0.8
million over last year’s earnings.
“We are satisfied with the results we obtained by focusing
our operations on our consulting portfolio of services. We will
continue pursuing opportunities for growth which will enhance our
Company’s value. Finally, we were delighted to provide a
dividend of approximately $1.7 million to our loyal shareholders in
November 2019," said Victor Sanchez, CEO of Pharma-Bio Serv,
Inc.
About Pharma-Bio Serv, Inc.
Pharma-Bio Serv is a compliance, project management, and technology
transfer support consulting firm, headquartered in Puerto Rico,
with operations in the U.S., Ireland, and Spain. Pharma-Bio Serv's
core business is FDA and other international regulatory compliance
agency related services. The Company's global team includes leading
engineering and life science professionals, quality assurance
managers and directors.
Forward-Looking Statements
This news release contains "forward-looking statements" within the
meaning of the U.S. federal securities laws, which statements may
include information regarding the plans, intentions, expectations,
future financial performance, or future operating performance of
Pharma-Bio Serv. Forward-looking statements are based on the
expectations, estimates, or projections of management as of the
date of this news release. Although Pharma-Bio Serv's management
believes these expectations, estimates, or projections to be
reasonable as of the date of this news release, forward-looking
statements are inherently subject to significant business risks,
economic and competitive uncertainties, or other contingencies,
which could cause its actual results or performance to differ
materially from what may be expressed or implied in the
forward-looking statements. Important factors that could cause
Pharma-Bio Serv's actual results or performance to differ
materially from the forward-looking statements include those set
forth in the "Risk Factors" section of Pharma-Bio Serv's Annual
Report on Form 10-K for the year ended October 31, 2019, and in its
other filings with the Securities and Exchange Commission, which
filings are available on www.sec.gov.
Pharma-Bio Serv disclaims any intention or obligation to update or
revise any forward-looking statements to reflect subsequent events
and circumstances, except to the extent required by applicable
law.
Company Contact:
Pedro J. Lasanta
Chief Financial Officer
787 278 2709
SOURCE: Pharma-Bio Serv,
Inc.