Pharma-Bio Serv, Inc 8-K, filed Jun 14, 2021
Pharma-Bio Serv, Inc. (PBSV)
8-K
2021-06-14
For: 2021-06-14
View Original
Added on
April 06, 2026
About this 8-K
Pharma-Bio Serv, Inc filed this 8-K on June 14, 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): June 14,
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 June
14, 2021, Pharma-Bio Serv, Inc. (the “Company”) issued a press release announcing
its results of operations for the quarter ended April 30, 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 June 14, 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: June 14, 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 April 30, 2021
Announces Regulatory and Compliance Advisory Board
June 14, 2021
DORADO, PUERTO RICO / ACCESSWIRE / June 14,
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
revenues for the three and six months ended April 30, 2021 were
$5,042,000 and $9,530,000, respectively, a decrease of
approximately $606,000 and $731,000, respectively, when compared to
the same periods last year.
Net income for the three and six
months ended April 30, 2021 was approximately $240,000 and
$508,000, a decrease of approximately $448,000 and $706,000 when
compared to the same periods last year, respectively. The decrease
in net income is mainly attributable to the completion of projects
in the Puerto Rico market during the three and six months ended
April 30, 2020. The Company is actively pursuing higher margin
business and has already taken significant steps to reduce
administrative expenses to mitigate margin
pressure.
"During the last two quarters we
have seen significant business development in Europe and LATAM,
which we expect will continue through the end of the year. We are
also excited with new opportunities arising in the domestic market,
which we expect will result in new projects in the short term,"
said Victor Sanchez, CEO of Pharma-Bio Serv,
Inc.
"To support our strategy of being
recognized as a world-class provider of regulatory and compliance
solutions, we have assembled a Regulatory and Compliance
Advisory Board composed of former FDA officials and ex-industry
members (biographical information regarding our Advisory Board can
be found on our website at www.pharmabioserv.com).
The Advisory Board members have strong relationships within the FDA
and the Industry and will provide extremely valuable insights
to the Company’s management. We also believe that their
relationships and knowledge will help attract new clients and
business opportunities, providing additional growth opportunities
and allowing us to continue to provide best in class
regulatory and compliance solutions. " continued Mr.
Sanchez.
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, and competitive
uncertainties, and other factors, 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.