IVRO Advances Core Strategy to Make Non-Animal Testing Famous, Announces Fiscal Q1 2023 Results

Placentia, California–(Newsfile Corp. – February 8, 2023) – Today InVitro International (OTC Pink: IVRO), the 37 year pioneer developer and marketer of animal free testing methods, announced first fiscal quarter sales of $209,250, an increase of 14% over the same quarter last year. An operating loss of $31,169 was approximately 49% less than the prior years’ first fiscal quarter operating loss and partially attributed to initial M&A activity. Our M&A activity has moved forward smoothly and according to plan thus far.

CEO W. Richard Ulmer observed, “Over the traditionally slower recent holiday months, we saw a rise in safety testing inquiries and sales. Taken together with the progress we have seen in our initial efforts to complete a merger, we view this period as promising for 2023. Our corporate emphasis will continue to be from the root of Philip Crosby’s Quality Process – Do It Right the First Time.”

IVRO’s President, Atul Jhalani, added, “Just recently vegan products have found sales success in the cosmetics marketplace. It is exciting to think about several areas which for the first time may be impacted following U.S. Congressional passage of the ‘2021 Humane Cosmetic Act’. One of those areas could be chemical manufacturers who have not yet shifted away from animal testing. Another is that of existing laboratories which have not used in vitro test methods before. We have already seen a large laboratory on the East Coast announce it’s launching of the first and only 100% vegan ocular irritation test. Of course, it is our Ocular Irritection®.”

About InVitro International, Inc.

InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company’s testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO’s technology is commercialized globally through test kits and partner laboratory services.

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These risks and uncertainties include but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.

Company Contact:

W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
www.invitrointl.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154021

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