Oncologix Tech, Inc. Announces 1st Quarter Fiscal 2015 Financial Results Showing, New Business, Solid Revenue Growth And Continued Financial Improvements

LAFAYETTE, LA--(Marketwired - January 16, 2015) - Oncologix Tech Inc. (OTC PINK: OCLG), a fully reporting, diversified medical holding company with operating divisions in medical devices, healthcare services and durable medical product sales and distribution announced financial results for its first quarter of fiscal 2015 ending November 30, 2014.

Financial Highlights over the past 12 months

• Revenues for the first quarter 2015 were $1,161,874, up 60.3% from $724,632 for the comparable period in fiscal 2014.
• Gross margins for the first quarter fiscal 2015 were $300,843, up 30.7% from $230,077 for the comparable period in fiscal 2014.
• General and administrative expenses for the first quarter fiscal 2015 were $454,323, up from $277,360 in fiscal 2014. This was due primarily to general and administrative expenses from our acquisition of Esteemcare.
• During the past twelve months, we have repaid over $1,515,000 of company debt and financing agreements.
• Cash provided by financing activities was $817,600 for the first quarter fiscal 2015, up from $86,586 for the comparable period in fiscal 2014.

                                                                            
                                                                  Forecast  
                 Q1 2014  Q2 2014   Q3 2014  Q4 2014    Q1 2015    Q2 2015  
                -------- --------- -------- --------- ---------- ---------- 
                                                                            
Revenues        $724,632 $ 983,758 $988,385 $ 974,575 $1,161,974 $1,309,842 
                                                                            
Cost of revenues 494,555   748,596  788,757   816,277    861,031    899,665 
                -------- --------- -------- --------- ---------- ---------- 
                                                                            
  Gross profit   230,077   235,162  199,628   158,298    300,943    410,177 
  Gross profit %   31.75%    23.90%   20.20%    16.24%     25.90%     31.31%
                                                                            
Operating                                                                   
 expenses:                                                                  
  General and                                                               
  administrative 277,360   482,383  276,950   310,098    454,323    383,029 
  Research and                                                              
   development                                                              
   expense             -         -        -    30,000     10,000     10,000 
  Depreciation                                                              
   and                                                                      
   amortization    5,452     6,040    5,664     5,664      4,645      4,645 
                -------- --------- -------- --------- ---------- ---------- 
                                                                            
  Total                                                                     
   operating                                                                
   expenses      282,812   488,423  282,614   345,762    468,968    397,674 
                -------- --------- -------- --------- ---------- ---------- 
                                                                            
  Loss before                                                               
   interest and                                                             
   taxes         (52,735) (253,261) (82,986) (187,464)  (168,025)    12,503 
                ======== ========= ======== ========= ========== ========== 
                                                                            
  Gen and Admin.                                                            
   As % of Sales   38.28%    49.03%   28.02%    31.82%     39.10%     29.24%
                                                                            

Wayne Erwin, CEO of Oncologix, stated, "We are pleased to announce highlights of our first quarter fiscal 2015." Erwin also commented, "We continue to execute our strategy to focuses on strategic acquisitions and debt reduction, both of which significantly increase Oncologix's market value."

Key Company Activities over the past 12 Months

• Acquisition of Esteemcare Inc. effective September 2014 - $1.7 million in annual revenues
  • Obtained 10 new physician referral sources for annual projected revenues of $140,000.00
  • Revamped staffing and consolidated positional responsibilities to position the company for expansion in to new markets.
  • Expanded respiratory therapy services into3 new markets
• Acquired Amian Health Services December 2013 - $1.1 million in annual revenues
• Continued reduction in non-essential FTE employees.
• Continuing with final product redesign for Dotolo Research Toxygen-II hardware system and new disposable speculum products
• Executed a $4.0 million line of credit facility with TCA Global Fund
• Repaid $107,500 of convertible debt between October through December 2014 from operating capital preventing approximately 40 million shares from being sold into the market.

Erwin also noted, "We are on track to close on a potential acquisition within the next 45 days with an additional durable medical equipment company with annual revenues of approximately $9.8 million generating over $2.2 million in positive EBITDA. With our continued acquisition and growth strategy, we strive to grow our annualized revenues to $35 million by year-end 2015 with positive EBITDA exceeding $3.6 million. Our stock price does not accurately reflect the success of our operating activities and remains severely undervalued. With our continued execution on our acquisition and growth plan, we are confident that our stock value will rise in the coming year to its true fair market values."

About Oncologix Tech
Oncologix is a fully reporting, diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Healthcare Services, and Home Medical and Durable Medical products nationally. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services and medical product distribution. For its shareholders, Oncologix operates profitable operating divisions that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap healthcare services holding company in North America.

This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's filings with the Securities and Exchange Commission.