BEIJING and CLAREMONT, Calif., April 15, 2013 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announced results for 2012.
There were no net sales for the twelve months ended December 31, 2012, and 2011 respectively. Net losses attributable to Kiwa stockholders were $1,342,432 and $1,691,319 for fiscal 2012 and 2011, respectively.
During the year ended December 31, 2012, Mr. Wei Li, Chairman and CEO of Kiwa, advanced the Company net additional capital of $236,000. As of December 31, 2012, the balance of loans to the Company by officers and related parties was $3,803,000.
Please refer to documents filed with the Securities and Exchange Commission for additional information on the results.
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please review documents filed with the SEC (www.sec.gov) or visit the Company's website, www.kiwabiotech.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
CONTACT: Investor Relations Robert Schechter Equity Communications 212-499-6809 email@example.com
Source:Kiwa Bio-Tech Products Group Corporation