Pharma-Bio Serv, Inc 8-K, filed Mar 17, 2021
Pharma-Bio Serv, Inc. (PBSV)
8-K
2021-03-17
For: 2021-03-17
View Original
Added on
April 06, 2026
About this 8-K
Pharma-Bio Serv, Inc filed this 8-K on March 17, 2021.
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): March 17,
2021
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
March 17, 2021, Pharma-Bio Serv, Inc. (the “Company”) issued a press release announcing
its results of operations for the quarter ended January 31, 2021. 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 March 17, 2021
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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: March 17, 2021
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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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Exhibit 99.1
Pharma-Bio Serv Announces Results for the Quarter Ended January 31,
2021
March 17, 2021
DORADO, PUERTO RICO / ACCESSWIRE / March 17, 2021 /
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 that revenues for the quarter ended January 31,
2021 were approximately $4,488,000, a decrease of approximately
$125,000 when compared to the same period last
year.
Additionally, net income for the quarter ended January 31, 2021 was
approximately $268,000, a decrease of approximately $259,000 when
compared to the same period last year. The decrease in net income
is mainly attributable to the completion of projects in the Puerto
Rico market in April 2020. The Company is actively pursuing higher
margin business and has already taken significant steps to reduce
administrative expenses to mitigate margin pressure.
"We
continue to execute on our strategy focused on providing our
portfolio of services to our clients and pursuing
additional growth opportunities for the Company," said Victor
Sanchez, CEO of Pharma-Bio Serv, Inc.
About Pharma-Bio Serv, Inc.
Pharma-Bio Serv services the Puerto Rico, United States, Europe and
Latin America markets. Pharma-Bio Serv's core business is FDA and
international agencies regulatory compliance consulting 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 earnings announcement. Although Pharma-Bio Serv's
management believes these expectations, estimates, or projections
to be reasonable as of the date of this earnings announcement,
forward-looking statements are inherently subject to significant
business risks, economic uncertainties, including any impacts of
the coronavirus (COVID-19) pandemic, 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, 2020, 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.