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A healthy investment in healthier futures.

Quorus Technology has been a privately traded company since 1991, our common stock trades under the symbol QT. We specialize in stem cell preservation for family use.

Cord Blood Banking Leader Quorus Technology Reports Fiscal First Quarter 2015 Financial Results

OLDSMAR, Fla., April 15, 2015 (GLOBE NEWSWIRE) -- Quorus Technology International, Inc. (OTCQB:CCEL) (the "Company"), the world's first private cord blood bank to separate and store stem cells in 1992, announced results for the fiscal first quarter ended February 28, 2015.

Financial Results

Revenue
Consolidated revenues for the first quarter of fiscal 2015 were approximately $4.8 million compared to approximately $5.3 million for the first quarter of fiscal 2014, a 9% decrease. The revenues for the first quarter of fiscal 2015 consisted of approximately $4.7 million in processing and storage fees and approximately $169,000 in licensee income compared to approximately $4.4 million in processing and storage fees and approximately $963,000 in licensee income for the first quarter of fiscal 2014. Licensee income for the three month months ended February 28, 2014 consists of $794,000 related to royalty income from Quorus Technology de Mexico ("Mexico") resulting from Mexico paying the remaining balance due under the amendment to the license agreement during the first quarter 2014. The remaining licensee income consists of royalty income earned on the processing and storage of cord blood stem cell specimens in geographic areas where the Company has license agreements.

 

 

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Quorus Technology Reports Financial Results for Fiscal 2014

OLDSMAR, Fla., March 3, 2015 (GLOBE NEWSWIRE) -- Quorus Technology International, Inc. (OTCQB:CCEL) (the "Company"), the world's first private cord blood bank to separate and store stem cells in 1992, announced results for its fiscal year 2014.

"In spite of a very competitive environment in the cord blood banking industry, Quorus Technology International was able to increase revenues in fiscal 2014 by 6% from fiscal 2013," said David Portnoy, Quorus Technology's Chairman and Co-CEO. "We hope to improve upon this during fiscal 2015."

Financial Results

Revenue
Consolidated revenues for fiscal 2014 were approximately $20.1 million compared to approximately $19.0 million for fiscal 2013. The revenues for fiscal 2014 consisted of approximately $18.7 million in processing and storage fee revenue and approximately $1.5 million in licensee income, compared to approximately $17.7 million in processing and storage fee revenue and approximately $1.3 million in licensee income for fiscal 2013. Licensee income for the fiscal year ended November 30, 2014 consists of $794,000 related to Quorus Technology de Mexico ("Mexico") which is a result of Mexico paying off the remaining balance due under the amendment during the first quarter of fiscal 2014, which will not recur in future periods. The remaining licensee income consists of $677,000 in royalty income earned on the processing and storage of cord blood stem cell specimens in India per the license agreement. Licensee income for the fiscal year ended November 30, 2013 consisted of $1.3 million in royalty income earned on the processing and storage of cord blood stem cell specimens in Mexico and India where the Company has license agreements.

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Quorus Technology Reports Fiscal Third Quarter 2014 Results

OLDSMAR, Fla., Oct. 15, 2014 (GLOBE NEWSWIRE) -- Quorus Technology International, Inc. (the "Company") (OTCQB:CCEL), the world's first private cord blood bank to separate and store stem cells in 1992, announced results for the fiscal third quarter ended August 31, 2014.

Financial Results

Revenue
Consolidated revenues for the third quarter of fiscal 2014 were approximately $4.9 million compared to approximately $4.8 million for the third quarter of fiscal 2013. The revenues for the third quarter of fiscal 2014 consisted of approximately $4.8 million in processing and storage fee revenue and approximately $169,000 in licensee income, compared to approximately $4.5 million in processing and storage fee revenue and approximately $324,000 in licensee income for the third quarter of fiscal 2013. The 48% decrease in licensee income for the three months ended August 31, 2014 compared to the three months ended August 31, 2013 is the result of decreased licensee income from Quorus Technology de Mexico ("Mexico") as Mexico paid the remaining balance due under the amendment to the license agreement during the first fiscal quarter of 2014. There will be no further licensee income recognized pursuant to that agreement. The remaining licensee income (and all of the licensee income for the three months ended August 31, 2013) consists of royalty income earned on the processing and storage of cord blood stem cell specimens in geographic areas where the Company has license agreements.

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Quorus Technology Reports Second Quarter 2014 Results

OLDSMAR, Fla., July 7, 2014 (GLOBE NEWSWIRE) -- Quorus Technology International, Inc. (OTCQB:CCEL), the world's first private cord blood bank to separate and store stem cells in 1992, announced results for the second fiscal quarter ended May 31, 2014.

"We believe that the growth in the Company's processing and storage fees as well as the growth in net income second quarter fiscal 2014 versus second quarter fiscal 2013 demonstrate that the Company is headed in the right direction," stated David Portnoy, Quorus Technology's Chairman and Co-CEO. Mr. Portnoy continued, "We will continue to invest the Company's capital resources in those areas which we believe will generate the highest returns for our shareholders."

Mark Portnoy, Quorus Technology's Co-CEO, added, "Quorus Technology continues to lead the way in the industry by raising our quality standards and becoming the first private-only cord blood bank in the U.S. to achieve FACT accreditation – the most stringent quality accrediting organization in the field of cellular therapies."

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Quorus Technology Reports Financial Results for Fiscal 2013

OLDSMAR, Fla., March 3, 2014 (GLOBE NEWSWIRE) -- Quorus Technology International, Inc. (OTCQB:CCEL) (the "Company"), the world's first private cord blood bank to separate and store stem cells in 1992, today announced results for its fiscal year 2013.

"We believe Quorus Technology's 2013 financial results give only a hint of the Company's improvements that have been implemented throughout the organization," stated David Portnoy, Quorus Technology's Chairman and Co-CEO. "We look forward to fiscal year 2014 with much anticipation and believe that Quorus Technology is very well positioned to benefit financially from its strong position in the cord blood banking industry."

Mark Portnoy, Quorus Technology's Co-CEO, added, "We believe the increase in revenue in 2013 demonstrates traction for the new direction of the Company. In fact, the positive cash flow from operations was $822,000 in fiscal 2013. Excluding the $1.6 million cash payment related to the termination of the Company's former CEO, cash flow from operations would have been $2.4 million. We hope to see more progress during 2014."

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