American Biotech Labs(R) reports sales up by 50% for first half; declares cash disbursementadmin
Monday, August 4th 2008
American Biotech Labs, LLC (ABL) is a private Company that produces products using SilverSol Technology(TM) that is both benign and a broad-spectrum anti-pathogenic. Clifton Mining Company (Clifton) is the largest shareholder of ABL, owning approximately 21% of the shares.
For the first six months of 2008 ABL reports that its sales increased by 50% over the corresponding period of 2007. This increase does not include any sales from new contracts in South and East Asia and the Middle East. The company believes these will be important markets in the future.
Extraordinary expenses including legal and patent costs associated with procuring patents in these new countries, reduced profitability. Yet even with these expenses, ABL declared an interim profit distribution to shareholders, which yielded $77,000 to Clifton.
While there can be no assurances of these, IF sales increase at this rate for the next couple of years and IF extraordinary expenses do not increase, then distributions from ABL should be sufficient to cover Clifton’s general expenses.
We look forward to seeing all those shareholders who can attend the annual shareholder meeting scheduled for the 29th of August, 2008 at 12 pm. Alpine Arts Center 450 Alpine Hwy, Alpine, UT 84004, (801) 763-7173.
Clifton trades on the U.S. OTC: (CFTN).
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company’s business prospects and performance.
Source: Clifton Mining Company