BaroFold, Inc.

Patented BaroFold Platform is Critical Enabler for Biopharma Manufacturing and Quality Assurance; Company Believes Future BaroFold Equipment and Recurring Utilization/Support Fees Should Exceed $100 Million in Annual Revenue SOUTH EASTON, MA / ACCESSWIRE / September 8, 2023 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBIO" or the "Company"), a global leader in the development and sale of broadly enabling, high-pressure-based equipment, consumables, and specialty testing services to the worldwide biopharmaceuticals, nutraceuticals, cosmeceuticals, food and beverage, and other industries, today announced a key transition in its collaborations with multiple leaders and innovators in global biopharmaceutical development and commercialization, including preeminent Contract Development and Manufacturing Organizations ("CDMOs"). The Company announced its graduation from serial product development and demonstration research contracts, with a pivotal leap forward into the sale, installation, and qualification of a research level BaroFold™ Protein Refolding Process Development System ("BaroFold System"), the first of which is currently being prepared for shipment to the main research and development site of a leading global CDMO. Because of their high degree of specificity, proven efficacy, and minimal side effects, proteins have become the therapeutic design of choice. The global protein therapeutics market is expected to reach US $487 billion by 2030. Unfortunately, conventional methods of biomanufacturing are very costly and time-consuming, making protein therapeutics inaccessible for most patients in developing countries. While the rapidly growing biosimilars (follow-on or generic versions of biologics) market was meant to reduce the cost of protein therapeutics, the major obstacles to achieving affordability of biosimilars remain unsolved when these molecules are produced in conventional bioreactors using animal and human (mammalian) cell cultures. Alternatively, biopharmaceutical proteins can also be produced in bacterial cultures at a fraction of the mammalian cell culture costs, but protein expression in bacteria often results in misfolded inactive proteins that aggregate and precipitate in the bacteria ("inclusion bodies"). The BaroFold Platform (14 issued patents) can be used to revolutionize biomanufacturing of proteins in bacterial cultures by disaggregating, unfolding, and facilitating the refolding of protein molecules back to their biologically-active native configurations, thus significantly improving the quality and lowering the production costs of protein therapeutics. The BaroFold platform delicately employs extreme pressure perturbations to achieve this disaggregation and controlled refolding of proteins at yields and efficiencies not achievable using other existing technologies. The BaroFold Platform has repeatedly demonstrated the ability to remove protein aggregates in manufactured biotherapeutic drugs, thereby improving product efficacy, safety, and cost for both new-drug entities and biosimilar products. It is readily scalable and practical for standard manufacturing processes. This unique platform is currently helping start-ups and multi-billion-dollar companies in the design and development of novel protein-based therapeutics that could substantially lower the cost of existing formulations. Dr. Alexander V. Lazarev, PBIO's Chief Science Officer, commented: "Proteins exhibit unique biophysical behaviors, which require optimization of the physical/chemical environment to gently facilitate the successful unfolding and guided refolding of each protein drug candidate into its desired active native states. We offer specialty equipment and comprehensive process development services based on harnessing the power of patented high-pressure manipulations. Following a year-long pilot project with a world renowned CDMO, we are thrilled that they are now incorporating our initial BaroFold System into their R&D infrastructure. This BaroFold System will accelerate the exploration and optimization of refolding conditions that can be seamlessly transitioned into manufacturing scale with future sales of larger BaroFold equipment that integrate with continuous flow systems and align perfectly with modern modular biomanufacturing facilities, ultimately leading to significantly lower costs for protein biologics and expanded access to these life-changing medications." Mr. Richard T. Schumacher, President and CEO of PBIO, expanded: "The purchase of a BaroFold System by a leading CDMO is expected to evolve into the commercial scale-up phase, eventually requiring the purchase of one or more custom-made, BaroFold Commercial Scale Manufacturing Systems. We estimate that each BaroFold Manufacturing System would likely generate millions of dollars in contract design, installation, and qualification contracts for PBIO. Moreover, adoption of the BaroFold platform by CDMOs throughout their multi-site organizations would accelerate the demonstration and adoption of BaroFold processing by the CDMO's many biopharmaceutical company clients. As each biopharma client becomes ready to scale up further, we will support the establishment of BaroFold manufacturing sites under expanded licensing and contracting engagements. We anticipate the various BaroFold platform systems and the on-going utilization and support fees associated with installations could eventually grow into annual revenue exceeding $100M for PBIO." Mr. Jeffrey N. Peterson, Board Chairman of PBIO, summed up: "We have clearly communicated to investors how PBIO has redirected and reprioritized resources into the development and commercialization of our UltraShear™ platform, enabling a new generation of breakthrough nanoemulsion products for optimized dosing and delivery of myriad oil-soluble active therapeutic and nutritional molecules, in multi-billion dollar growth opportunities spanning nutraceuticals, cosmeceuticals, classical small-molecule pharmaceuticals, agrochemicals, food & beverages, and industrial product markets. Nonetheless, we remain proud of PBIO's initial high pressure platform developments in Pressure Cycling Technology™ (PCT™) and in our BaroFold Technology, and we continue to welcome exciting breakthrough, revenue-generating successes from our ongoing efforts in support of all of PBIO's valuable patented technology platforms." About Pressure BioSciences, Inc. Pressure BioSciences, Inc. (OTCQB:PBIO) is a global leader in providing innovative, broadly enabling, high pressure-based solutions for a range of industries, including biotechnology, pharmaceutical, nutraceutical, cosmeceutical, and agrochemical, as well as food and beverage manufacturing. Our products utilizeboth constant and alternating pressure. Our patented enabling technology platform, Pressure Cycling Technology (PCT), utilizes alternating cycles of pressure to control bio-molecular interactions (such as cell lysis and biomolecule extraction) safely and reproducibly. PCT-based products are beginning to be widely used for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterrorism applications. We have recently expanded our market opportunities with the acquisition of the BaroFold™ patented technology platform, allowing us to enter the bio-pharma contract services and GMP manufacturing equipment sector. We have also developed the scalable and high-efficiency pressure-based UltraShear Technology™ (UltraShear™) platform, which allows for the creation of stable nanoemulsions of otherwise immiscible fluids. It also allows for the preparation of higher quality, homogenized, extended shelf-life or room temperature-stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. Our commitment to innovation and cutting-edge technology has established PBIO as a leader in the high-pressure industry, providing unique and effective solutions to our customers. Forward Looking Statements This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied, or inferred by these forward-looking statements. In some cases, youcan identify forward-looking statements by terminology such as "may," "will," "should,""could,""would," "expects," "plans," "intends,""anticipates," "believes," estimates,""predicts," "projects,""potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not placeundue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially fromany forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law. For more information about PBI and this press release, please click on the following website link: Please visit us on Facebook, LinkedIn, and Twitter. Press Contacts: Richard T. Schumacher, President & CEO (508) 230-1828 (T) Alexander V. Lazarev, Ph.D. CSO (508) 230-1829 (F) Jeffrey N. Peterson, Board Chairman (650) 703-8557 (T) SOURCE: Pressure BioSciences Inc. View source version on accesswire.com:

DUBLIN, June 30, 2023 /PRNewswire/ -- The "Global Proteomics Partnering Terms and Agreements 2010 to 2023" report has been added to ResearchAndMarkets.com's offering. The Global Proteomics Partnering Terms and Agreements 2010 to 2023 report provides an understanding and access to the proteomics partnering deals and agreements entered into by the world's leading healthcare companies. Trends in proteomics dealmaking in the biopharma industry since 2010 Access to headline, upfront, milestone and royalty data Access to over 600 proteomics deal records and contract documents where available The leading proteomics deals by value since 2010 Most active proteomics dealmakers since 2010 The leading proteomics partnering resources The Global Proteomics Partnering Terms and Agreements report provides an understanding and access to the proteomics partnering deals and agreements entered into by the world's leading healthcare companies. The report provides a detailed understanding and analysis of how and why companies enter proteomics partnering deals. The majority of deals are early development stage whereby the licensee obtains a right or an option right to license the licensors proteomics technology or product candidates. These deals tend to be multicomponent, starting with collaborative R&D, and commercialization of outcomes. Understanding the flexibility of a prospective partner's negotiated deals terms provides critical insight into the negotiation process in terms of what you can expect to achieve during the negotiation of terms. Whilst many smaller companies will be seeking details of the payments clauses, the devil is in the detail in terms of how payments are triggered - contract documents provide this insight where press releases and databases do not. This report contains links to online copies of actual proteomics deals and contract documents as submitted to the Securities Exchange Commission by companies and their partners. Contract documents provide the answers to numerous questions about a prospective partner's flexibility on a wide range of important issues, many of which will have a significant impact on each party's ability to derive value from the deal. Contract documents provide the answers to numerous questions about a prospective partner's flexibility on a wide range of important issues, many of which will have a significant impact on each party's ability to derive value from the deal. For example, analyzing actual company deals and agreements allows assessment of the following: What is actually granted by the agreement to the partner company? What exclusivity is granted? What are the precise rights granted or optioned? What is the payment structure for the deal? How are sales and payments audited? What is the deal term? How are the key terms of the agreement defined? How are IPRs handled and owned? Who is responsible for commercialization? Who is responsible for development, supply, and manufacture? How is confidentiality and publication managed? How are disputes to be resolved? Under what conditions can the deal be terminated? What happens when there is a change of ownership? What sublicensing and subcontracting provisions have been agreed? Which boilerplate clauses does the company insist upon? Which boilerplate clauses appear to differ from partner to partner or deal type to deal type? Which jurisdiction does the company insist upon for agreement law? The initial chapters of this report provide an orientation of proteomics dealmaking and business activities. Chapter 1 provides an introduction to the report, whilst chapter 2 provides an overview of the trends in proteomics dealmaking since 2010, including details of average headline, upfront, milestone and royalty terms. Chapter 3 provides a review of the leading proteomics deals since 2010. Deals are listed by headline value, signed by big pharma, most active proteomics dealmaking companies. Where the deal has an agreement contract published at the SEC a link provides online access to the contract. Chapter 4 provides a comprehensive listing of the top 25 most active companies in proteomics dealmaking with a brief summary followed by a comprehensive listing of proteomics deals, as well as contract documents available in the public domain. Where available, each deal title links via Weblink to an online version of the actual contract document, providing easy access to each contract document on demand. Chapter 5 provides a comprehensive and detailed review of proteomics partnering deals signed and announced since Jan 2010. Each deal title links via Weblink to an online version of the deal record and where available, the contract document, providing easy access to each contract document on demand. Chapter 6 provides a comprehensive and detailed review of proteomics partnering deals signed and announced since Jan 2010. Each deal title links via Weblink to an online version of the deal record and where available, the contract document, providing easy access to each contract document on demand. In addition, a comprehensive appendix is provided organized by Proteomics partnering company A-Z, deal type definitions and proteomics partnering agreements example. Each deal title links via Weblink to an online version of the deal record and where available, the contract document, providing easy access to each contract document on demand. The report also includes numerous tables and figures that illustrate the trends and activities in proteomics partnering and dealmaking since 2010. In conclusion, this report provides everything a prospective dealmaker needs to know about partnering in the research, development and commercialization of proteomics technologies and products. Key Topics Covered Executive Summary Chapter 1 - Introduction Chapter 2 - Trends in proteomics dealmaking 2.1. Introduction 2.2. Proteomics partnering over the years 2.3. Most active proteomics dealmakers 2.4. Proteomics partnering by deal type 2.5. Proteomics partnering by therapy area 2.6. Deal terms for proteomics partnering 2.6.1 Proteomics partnering headline values 2.6.2 Proteomics deal upfront payments 2.6.3 Proteomics deal milestone payments 2.6.4 Proteomics royalty rates Chapter 3 - Leading proteomics deals 3.1. Introduction 3.2. Top proteomics deals by value Chapter 4 - Most active proteomics dealmakers 4.1. Introduction 4.2. Most active proteomics dealmakers 4.3. Most active proteomics partnering company profiles Chapter 5 - Proteomics contracts dealmaking directory 5.1. Introduction 5.2. Proteomics contracts dealmaking directory Chapter 6 - Proteomics dealmaking by technology type Appendices Appendix 1 - Proteomics deals by company A-Z Appendix 2 - Proteomics deals by stage of development Appendix 3 - Proteomics deals by deal type Appendix 4 - Proteomics deals by therapy area Deal type definitions Companies Mentioned 3SBio 20/20 BioResponse 21st Century Biochemicals A*STAR Bioinformatics Institute A*STAR Genome Institute of Singapore A*STAR Institute of Microelectronics (IME) AB Analitica Abbvie Abcam Ablynx Abnova Abraxis BioScience Absorption Systems Abt Bio Pharma Solutions Academy for Medical Development & Collaboration Acceleron Pharma Acella Pharmaceuticals ACGT Activiomics ActivX Biosciences ADC Biotechnology Adeona Pharmaceuticals Adimab Aduro BioTech Advaita Advanced Biological Laboratories Advanced BioScience Laboratories Advanced Manufacturing Fund Advinus Therapeutics Aelan Cell Technologies Aestus Therapeutic AEterna Zentaris Affibody Affomix Affymetrix Agilent Technologies AGTC Aileron Therapeutics Ajinomoto AminoScience Alamar Biosciences Albumedix Alexion Pharmaceuticals Allergan Allozyne Almac Diagnostics Almac Group Almirall Alnylam Pharmaceuticals Althea Technologies Altus Pharmaceuticals Alzheimers Research UK Amarantus BioSciences Ambergen Ambrx American College of Cardiology American CryoStem American Health Assistance Foundation Amgen AmorChem Amplimmune Amunix Analytical Testing Laboratory AnaSpec Anchor Therapeutics Angel Biotechnology Anteo Diagnostics Anthera Pharmaceuticals Antigen Discovery Antitope Apeiron Biologics Applied Proteomics Arbor Vita Arbutus Arecor Ariadne Genomics ArmaGen Arrayit Artes Biotechnology Aspera Astellas Pharma AstraZeneca Asuragen ATUM Auburn University Aurigene Discovery Technologies Aushon BioSystems Autism Speaks Autogenesis Auven Therapeutics Avera Heart Hospital of South Dakota Avid Bioservices AvidBiotics Avila Therapeutics Avraham Pharmaceuticals Axil Scientific BaroFold Batavia Biosciences Baxter International Bayer Bayer CropScience Bayer Schering Pharma Baylor College of Medicine BellBrook Labs Bellus Health Berg BGI Americas BG Medicine Bicycle Therapeutics Bill and Melinda Gates Foundation Bio-Techne BioAtla Biocartis Biocius Life Sciences Biocrates Biodesix Bioeasy Diagnostica BioFocus Biogen Biognosys BioGrammatics Biomodels BioNova Cientifica Biopharm BioSante Pharmaceuticals BioSeek Bio Sidus Argentina BioSilta BioSystem Development Biotage Biotechnology and Biological Sciences Research Council (BBSRC) Biotechnology Value Fund Biotest bioVidria BioWa Bioyong BluePen Biomarkers Blue Sky Biotech Boehringer Ingelheim Boehringer Ingelheim Vetmedica BostonGene Bristol-Myers Squibb Bruker Bucher Biotec Bulldog Bio c-LEcta Caladrius Biosciences Caliber Biotherapeutics California Institute for Quantitative Biosciences (QB3) Calixar Cambridge Isotope Laboratories Cambridge Research Biochemicals Camino Partnership Cancer Research Technology Cancer Research UK Cangene Caprion Biosciences Caprion Proteomics Caprotec Bioanalytics For more information about this report visit About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Research and Markets Laura Wood, Senior Manager [email protected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1904 Fax (outside U.S.): +353-1-481-1716 Logo: SOURCE Research and Markets

Company Pivots Strongly into Revolutionary UltraShear Platform, Achieving Measurable Progress and Traction, Including Expected Record Revenue in Q1 2023 Investor Call Scheduled for Tuesday, April 18, 2023 at 4:30 p.m. ET SOUTH EASTON, MA / ACCESSWIRE / April 14, 2023 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBI" or the "Company"), a global leader in the development and sale of broadly enabling, high-pressure-based products and services to the life sciences and other industries, reported financial results for the fourth quarter and fiscal year ended December 31, 2022, provided a business update, and offered guidance for a strong 2023, beginning with record revenue in the 2023 first quarter. Financial Results: Q4 2022 vs. Q4 2021 (rounded to nearest thousand, except EPS) Total revenue for Q4 2022 was $607,000 compared to $315,000 for Q4 2021, an increase of 93%. Instrument sales for Q4 2022 were $230,000 compared to $116,000 for Q4 2021, an increase of 98%. Consumable sales for Q4 2022 were $92,000 compared to $83,000 for Q4 2021, an increase of 11%. PBI Agrochem subsidiary sales in Q4 2022 were $71,000 compared to $12,000 for Q4 2021, an increase of 500%. Operating loss for Q4 2022 was $1,546,000 compared to $1,221,000 for Q4 2021, an increase of 27%, including an increase in PBI Agrochem inventory reserves of $640,000. Basic and diluted net loss per share was $(0.38) for Q4 2022, improved from $(0.57) for Q4 2021. Financial Results: FY 2022 vs. FY 2021 (rounded to nearest thousand, except EPS) Total revenue for 2022 was $1,729,000 compared to $2,002,000 for 2021, a decrease of 14%. Instrument sales for 2022 were $724,000 compared to $1,047,000 for 2021, a decrease of 31%. Consumable sales for 2022 were $257,000 compared to $274,000 for 2021, a decrease of 6%. PBI Agrochem subsidiary sales in 2022 were $165,000 compared to $29,000 for 2021, an increase of 466%. Operating loss for 2022 was $4,898,000 compared to $4,185,000 for 2021, an increase of 17%, including an increase in our PBI Agrochem inventory reserves of $640,000. Basic and diluted net loss per share was $(1.68) for 2022, improved from $(3.42) for 2021. Director of Sales and Marketing for PBI, Mr. John B. Hollister, commented: "Impacts of the Covid pandemic supply chain disruptions and economic gyrations undeniably challenged the full year results, while PBI was also deliberately executing on our announced pivot of resources and strategic focus onto our UltraShear Technology ("UST") platform. Nonetheless, Q4 of 2022 demonstrated a strong rebound in our traditional PCT platform investments, providing welcome underpinning to the revenue growth architecture we have been building for UST in 2023 and beyond, in our march towards significantly increased revenue and profitability." 2023 Operational and Technical Highlights: Major progress in resolving UltraShear manufacturing capacity limitations within current facilities. Early data from an on-going, expanded THC marketing study correlates with earlier study results: UST nano-THC oral spray delivering onset in 1-10 (mostly 3-5) minutes, compared to usual onset from typical current edibles at over 45-90 minutes. Leading academics in cannabis research expected to publish study results of UST nanoemulsified CBD in April/May 2023, demonstrating definitive superiority in speed of action and total bioavailability over existing marketed products. PBI planning for shipments in April against three UST CBD contracts (the $1.5M contract already announced, plus 2 new/additional contracts). Beyond early opportunities in CBD/THD, multiple additional UST contract negotiations advancing quickly with announcements pending in cosmeceuticals and immune booster nutraceuticals. The Company expects to release Q1 2023 results with record revenue exceeding any quarter in Company's history and is confidently advancing on announced plans for capacity expansion, balance sheet strengthening, and targeted uplist to NASDAQ or NYSE in 2023. Mr. Richard T. Schumacher, President and CEO of PBI, added: "As we emerge from a challenging period of economic turbulence and strategic transition, our team has been executing strongly to bring our transformational UltraShear technology to bear on a series of major contract opportunities spanning diverse markets, from nutraceuticals to cosmeceuticals, food and beverages, agrochemicals, and more. We are confident that our pending Q1 2023 announcement of all-time record revenue for any quarter will be quickly superseded by our projected revenue growth through each succeeding quarter in 2023." Mr. Jeffrey N. Peterson, PBI's Chairman, concluded: "The PBI team has demonstrated exceptional tenacity and skill in managing through revolutionary technology platform innovations, early customer cultivation, and successful product and market demonstrations. We are now positioned to secure major UltraShear processing contracts, particularly in the nutraceutical area. Beyond reaching this inflection point in revenue growth, Ric and his team have achieved a major improvement in restructuring the Company's balance sheet with the significant conversion of debt to equity recently announced. The Company remains focused on completing an up-list to NASDAQ or NYSE in 2023. We are grateful to our dedicated and patient investors and to the PBI team who have delivered us to this pivotal ascension in 2023." About Pressure BioSciences, Inc. Pressure BioSciences, Inc. (OTCQB:PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences industry. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions safely and reproducibly (e.g., cell lysis, biomolecule extraction). Our primary focus is the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired, patented technology from BaroFold, Inc. (the "BaroFold" technology) to allow entry into the bio-pharma contract services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology ("UST") platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. Forward Looking Statements This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," estimates," "predicts," "projects," "potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. The Company's financial results for the twelve months ended December 31, 2022 may not necessarily be indicative of future results. These and other factors may cause our actual results to differ materially from any forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. For more information about PBI and this press release, please click on the following website link: Please visit us on Facebook, LinkedIn, and Twitter. Earnings Call The Company will hold an Earnings Conference Call at 4:30 p.m. ET on Tuesday, April 18, 2022. To attend this teleconference via telephone, Dial-in: (877) 545-0523 (North America) & (973) 528-0016 (International); ACCESS CODE: 519732. Replay Number (877) 481-4010 (North America) & (919) 882-2331 (International); REPLAY ACCESS CODE: 48183. Teleconference Replay Available for 30 days. PRESSURE BIOSCIENCES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended December 31, For the Year Ended December 31, 2022 2021 2022 2021 Revenue: Products, services, other $ 607,174 $ 315,199 $ 1,729,343 $ 2,002,365 Total revenue 607,174 315,199 1,729,343 2,002,365 Costs and expenses: Cost of products and services 930,875 171,278 1,673,582 942,383 Research and development 252,312 262,437 968,997 1,101,509 Selling and marketing 158,443 72,519 580,865 324,728 General and administrative 812,475 1,030,113 3,404,188 3,818,892 Total operating costs 2,154,105 1,536,347 6,627,632 6,187,512 Operating loss (1,546,931 ) (1,221,148 ) (4,898,289 ) (4,185,147 ) Other (expense) income: Interest expense, net (3,989,794 ) (2,925,935 ) (10,438,565 ) (14,450,241 ) Unrealized (loss) gain on investment in equity securities 11,709 (52,574 ) 3,662 (457,025 ) Gain (loss) on extinguishment of liabilities 1,057,914 439,322 (751,335 ) (1,061,073 ) Other income (expense) 8,753 (119,280 ) 7,849 - Total other expense (2,911,418 ) (2,658,467 ) (11,178,389 ) (15,968,339 ) Net loss (4,458,349 ) (3,879,615 ) (16,076,678 ) (20,153,486 ) Deemed dividends on beneficial conversion feature - - - (873,798 ) Preferred stock dividends (431,709 ) (418,640 ) (1,727,275 ) (1,658,175 ) Net loss attributable to common shareholders $ (4,890,058 ) $ (4,298,255 ) $ (17,803,953 ) $ (22,685,459 ) Basic and diluted net loss per share attributable to common shareholders $ (0.38 ) $ (0.57 ) $ (1.68 ) $ (3.42 ) Weighted average common shares outstanding used in the basic and diluted net loss per share calculation 12,960,099 7,561,728 10,616,208 6,636,523 PRESSURE BIOSCIENCES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2022 December 31, 2021 ASSETS CURRENT ASSETS Cash and cash equivalents $ 3,865 $ 132,311 Accounts receivable 295,374 154,746 Inventories, net of $982,973 and $342,496 reserve, respectively 686,383 1,147,554 Prepaid expenses and other current assets 257,527 422,617 Total current assets 1,243,149 1,857,228 Investment in equity securities 63,638 59,976 Property and equipment, net 103,351 115,846 Right of use asset operating leases 282,095 395,565 Intangible assets, net 317,308 403,846 TOTAL ASSETS $ 2,009,541 $ 2,832,461 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable $ 637,238 $ 527,924 Accrued employee compensation 167,247 117,680 Accrued professional fees and other 2,497,762 1,955,672 Accrued interest and dividends payable 10,803,983 7,757,217 Deferred revenue 58,242 37,124 Convertible debt, net of unamortized debt discounts of $455,517 and $1,536,649, respectively 17,823,669 12,839,813 Other debt, net of unamortized discounts of $0 and $0, respectively 1,638,969 1,256,840 Related party debt, net of unamortized debt discount of $7,915 and $0, respectively 634,885 - Right of use operating lease liability 142,171 132,996 Total current liabilities 34,404,166 24,625,266 LONG TERM LIABILITIES Long term debt 150,000 150,000 Right of use operating lease liability long term 139,924 262,569 Deferred revenue 1,822 3,587 TOTAL LIABILITIES 34,695,912 25,041,422 COMMITMENTS AND CONTINGENCIES (Note 8) - - STOCKHOLDERS' DEFICIT Series D, G, H, H2, J, K, AA Convertible Preferred Stock, $.01 par value (Note 10) 1,098 1,099 Common stock, $.01 par value; 100,000,000 shares authorized; 13,682,910 and 9,120,526 shares issued and outstanding on December 31, 2022 and December 31, 2021, respectively 136,829 91,206 Warrants to acquire common stock 31,995,762 31,715,154 Additional paid-in capital 69,006,145 64,261,048 Accumulated deficit (133,826,205 ) (118,277,468 ) TOTAL STOCKHOLDERS' DEFICIT (32,686,371 ) (22,208,961 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,009,541 $ 2,832,461 Investor Contacts: Richard T. Schumacher, President and CEO (508) 230-1828 (T) John B. Hollister, Director of Marketing and Sales (805) 908-5719 (T) Jeffrey N. Peterson, Chairman (650) 812-8121 (T) SOURCE: Pressure BioSciences Inc. View source version on accesswire.com: