Oxygen Biotherapeutics, Inc. (TENX) SEC Filing 10-K Annual report for the fiscal year ending Monday, April 30, 2012

Earnings Press Release
10-K Annual Report
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Tenax Therapeutics, Inc.
Ticker: TENX CIK: 34956

Exhibit 99.1

Contact:

Ellen Corliss

Senior Vice President

Corporate Communications

&Investor Relations

(919)855-2112

Oxygen Biotherapeutics Reports Financial Results for Fiscal Year 2012

MORRISVILLE, NC, July 24, 2012 — Oxygen Biotherapeutics, Inc. (NASDAQ: OXBT), a development stage biomedical company focused on developing oxygen-carrying intravenous and topical products,today announced results for the fiscal year (FY) ended April 30, 2012.

Highlights

Reduced total operating expenses approximately20% year over year

Closed a registered financing in December 2011 for up to $7.5 million in gross proceeds; the first tranche raised $3.5 million; second tranche raised $2.5 million; and a third tranche of $1.5 million is scheduled for September 2012, subject to obtaining shareholder approval

Raised approximately $4.9 million in a private placement of unregistered convertible notes and warrants in June 2011

Secured fully cGMP compliant supplier for manufacture of Oxycyte® PFC emulsion to be used in upcoming clinical studies

Initiated a program of preclinical studies to evaluate the effects of Oxycyte on immunocompetence and platelet function, biodistribution and transfusion under the cost-reimbursement grant sponsored by the United States Army

Signed an agreement to collaborate with Aurum Biosciences to conduct preclinical research using Oxycyte to enhance imaging and for therapeutic intervention of acute ischemic stroke. The research is being conducted by Aurum Biosciences using our Oxycyte emulsion in combination with Aurum's proprietary Glasgow Oxygen Level Dependent (GOLD) Magnetic Resonance Imaging techniques

Named Board member Dr. Ronald Blanck our Chairman of the Board of Directors

Named Chris Rallis, former President & CEO of Triangle Pharmaceuticals and Anthony DiTonno, former CEO of Neurogesx, to the Board of Directors in December 2011

Named CFO Michael B. Jebsen President and interim Chief Executive Officer in August 2011

Financial Results

We generate product revenue from the sale of Dermacyte through on-line retailers, physician and medical spa facilities, and through distribution agreements with unrelated companies. Net product revenue for the years ended April 30, 2012 and 2011was $49,266 and $103,167, respectively. The decrease in product revenue was driven by our decision to suspend our existing marketing program and focus our efforts on reformulating and repackaging our existing retail products.

Gross profit as a percentage of revenue was 49% and 32% for the years ended April 30, 2012 and 2011, respectively. The increase for the year ended April 30, 2012 was due to a greater proportion of total sales through wholesale and retail channels versus sales through distributors in the current year.We also earn revenues through a cost-reimbursement grant sponsored by the United States Army (Grant Revenue). Grant Revenue is recognized as milestones under the grant program are achieved. Grant Revenue is earned through reimbursements for the direct costs of labor, travel, and supplies, as well as the pass-through costs of subcontracts with third-party contract research organizations. For the year ended April 30, 2012, we recorded approximately $314,000 in revenue under the grant program.

The following information was filed by Tenax Therapeutics, Inc. (TENX) on Wednesday, July 25, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Balance Sheets
Balance Sheets (parenthetical)
Statements Of Operations
Statements Of Cash Flows
Statements Of Shareholders Equity (deficit)
1. Description Of Business And Going Concern
2. Summary Of Significant Accounting Policies
3. Balance Sheet Components
4. Notes Payable
5. Series A Convertible Preferred Stock
6. Intangible Assets
7. Stockholders' Equity
8. Commitments And Contingencies
9. 401(k) Benefit Plan
10. Income Taxes
11. Subsequent Events

Material Contracts, Statements, Certifications & more

Tenax Therapeutics, Inc. provided additional information to their SEC Filing as exhibits

Ticker: TENX
CIK: 34956
Form Type: 10-K Annual Report
Accession Number: 0001354488-12-003634
Submitted to the SEC: Tue Jul 24 2012 5:41:58 PM EST
Accepted by the SEC: Wed Jul 25 2012
Period: Monday, April 30, 2012
Industry: Commercial Physical And Biological Research