SOURCE: EFT BioTech, Inc.

June 11, 2008 09:00 ET

EFT BioTech Holdings, Inc. Announces 2006 and 2007 Fiscal Year Ending Results

CITY OF INDUSTRY, CA and HONG KONG--(Marketwire - June 11, 2008) - EFT BioTech Holdings, Inc. (PINKSHEETS: EFTB) reported today a net income for the year ending 2007 of $26,492,000, compared to $9,129,000 for the same 2006 period, an increase of approximately 190% . EFT BioTech, Inc. is an E-Business Company serving consumers with EFTB's world class products, through an online business platform as its primary means to attract and cultivate its Affiliate network.

EFTB realized over a 154% increase in its gross margin sales from $13,130,000 for the year ending 2006. EFTB's gross margin sales were $33,398,000 for the same 2007 period. EFTB's net revenues for the year ending 2007 were $44,939,000, compared to $19,728,000 for the same 2006 period, an increase of over 127%.

Mr. Jack Qin, chairman and CEO of EFTB, said: "The fiscal year 2007 (which ended March 31, 2008), saw the culmination of many activities which started in 2006 and 2007, as well as major progress on projects started, but not yet completed. One of these projects was becoming listed and compliant on the Pink Sheets."

"We were able to increase our net income by more than 190% within one year. Our net revenues increased by 127% and our gross margin sales increased by 154%. We regard our company's future growth to be amazing," concluded Mr. Qin.

About EFT BioTech, Inc.

EFT BioTech, Inc. is an E-Business Company serving consumers with EFTB's world class products, through an online business platform as its primary means to attract and cultivate its Affiliate network program. EFTB consumers can become EFTB Affiliates by sharing EFTB's products information with other potential consumers. EFTB offers its Affiliate network a portfolio of world class products to market, and a robust infrastructure through which to receive payments and manage their customer referral sales. For more information please visit www.EFTB.us.

Safe Harbor for Forward-Looking Statements

Statements made in this release with the respect to the Company's current plans, estimates, strategies and beliefs and other statements that are not historical are forward-looking statements. Forward-looking statements include, but are not limited to, those statements using words such as "believe," "expect," "plans," "strategy," prospects," "forecast," "estimate," "project," "anticipate," "aim," "may" or "might" and words of similar meaning in connection with a discussion of future operations, financial performance, vents or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management's assumptions and belief in light of the information currently available to it. The company cautions you that a number of important risks and uncertainties could cause actual results to materially differ from those discussed in the forward-looking statements, and therefore, you should not place undue reliance on them. You also should not rely on any obligation of the Company to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The company disclaims any such obligation unless required by law. Risks and uncertainties that might affect the Company include, but are not limited to (i) the global economic environment in which the Company operates, as well as the economic conditions in the Company's markets, (ii) levels of consumer spending, and (iii) exchange rates, particularly between the Chinese Yen and the U.S. Dollar. Risks and uncertainties also include the impact of any future events with material adverse impacts.

Contact Information

  • Contact:
    John Tsemberides
    44 Wall Street 12th floor
    New York, N.Y. 10005
    O: 212-400-2337
    C: 917-734-1524
    john@informedir.com