PLACENTIA, CA / ACCESSWIRE / December 8, 2020 / InVitro International (OTC PINK:IVRO), is pleased to announce revenues of $1,104,816 and net income of $49,894 for our fiscal year ending on September 30th, 2020 from our audited financial statements. Although global laboratory testing volume was impacted negatively this year other than Covid, InVitro increased revenues nearly 5% compared to fiscal 2019 (see www.otcmarkets.com/stock/IVRO/financials).
Now in an effort to address recent shareholder requests, this is our first 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 with 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. Our 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 CEO and Chairman, W. Richard Ulmer, commented, "We pioneered animal free testing 30 years ago when there were no government Regulatory Agencies yet to guide, review and accept such technologies. Rather quickly, IVRO developed Corrositex (CTX) to replace one of the most brutal rabbit tests known at the time. This 1st ever in vitro test required Congressional approval before the U.S. DOT could accept it. Corrositex was approved in part thanks to the Doris Day Animal League rallying its members who delivered over 250,000 cards and letters in a two day period supporting the bill. Our second generation CTX has since reached OECD TG435 and Global Harmonization (GHS) status, with OSHA, EPA, IATA, CPSC and many more regulatory agencies globally adopting it as well."
IVRO President, Atul Jhalani, added: "We firmly believe that recent change in consumer attitudes plus government support globally for non-animal testing will fuel a market that will grow impressively in the future. Countries such as India, South Korea, Taiwan, Colombia, Brazil and more have passed legislation banning the use of animals in testing new cosmetics. All of Europe went this way several years ago. We need the U.S. to do likewise, and this year CA, NY, and IL, finally implemented such legislation. Currently, the U.S. Federal Government has such a ban before it with PETA and the Doris Day Animal League pushing hard."
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, or 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
[email protected]
www.invitrointl.com
SOURCE: InVitro International