CLAREMONT, Calif., Sept. 18, 2006 (PRIMEZONE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announced that revenues for the month of August were $430,000.
Mr. Wei Li, Chairman and CEO of Kiwa, stated, "These results reflect the initiation of various revenue streams identified in press releases during the first half of the year, and compare favorably to revenues for the first six months of 2006 of just $24,374. We expect this trend to continue during the second half of the year due to sales agreements with several distributors in China and other countries in Asia."
Mr. Li also described recent management meetings regarding opportunities for Kiwa. "The Board also had discussions concerning the AF-01 Anti-Viral product and acquisition of a GMP Veterinary Drug Company. We are encouraged by the progress of these two projects."
About Kiwa Bio-Tech Products Group Corporation
The Company develops, manufactures, and 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 visit the Company's website at http://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.