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8-K - CURRENT REPORT - Pharma-Bio Serv, Inc. | pbsv_8k.htm |
Exhibit
99.1
PHARMA-BIO SERV, INC. PROVIDES OPERATIONAL UPDATE FOLLOWING
HURRICANE MARIA
September
28, 2017
DORADO, PUERTO RICO /
September 28, 2017 / Pharma-Bio Serv, Inc. ("Pharma-Bio Serv"
or the "Company") (OTCQB: PBSV), a compliance, project management
and technology transfer support consulting firm that provides
services to the pharmaceutical, biotechnology, chemical, medical
device, cosmetic, food and allied products industries, today
announced an
update regarding operations following Hurricane
Maria.
First and foremost, our
personnel have been safely accounted for and many have returned to
work in our Dorado office as we work towards resuming normal
operations.
Pharma-Bio
Serv’s corporate offices, assets and laboratory in Puerto
Rico appear to have not suffered any structural damage during
Hurricane Maria and the Company expects minimal cleanup and
recovery costs. Our laboratory is running on our diesel dependent
generator, which were designed to support our lab systems and
personnel. Resources are being acquired to provide additional
backup capabilities and we are evaluating additional alternatives
for power supply and access to diesel, which are the primary
challenges for all Puerto Rico businesses during this recovery. We
are also utilizing our recovery location in San Juan to quickly
respond in the aftermath of the hurricane. In addition, our US,
Spain, Ireland and South American divisions are fully operational
and are providing assistance to the workforce in Puerto Rico. We
are also evaluating the use of remote facilities in the
US.
Most of our
customers in Puerto Rico have been contacted and are in various
stages of recovery. Although we likely will continue to feel the
effects of the hurricane for the next few months, we believe we
will begin placing some of our resources in customer locations as
early as next week.
While
Puerto Rico has clearly suffered tremendously from Hurricane Maria
and much of the island’s infrastructure and communication
networks are still greatly impaired, we will continue working
aggressively on your behalf.
About Pharma-Bio Serv, Inc.
Pharma-Bio
Serv is a compliance, project management and technology transfer
support consulting firm, headquartered in Puerto Rico, with
operations in the U.S., Ireland, and Spain. Pharma-Bio Serv's core
business is FDA and other international regulatory compliance
agency related services, with integrated portfolio services
including microbiological and chemical testing services for clients
in the Pharmaceutical, Biotechnology, Chemical, Medical Device,
Cosmetic, Food and Allied Products industries. The Company's
services also include "Pharma Serv Academy," a division that
provides technical and regulatory standards seminars/training
conducted by industry experts. The Company's global team includes
leading engineering and life science professionals, quality
assurance managers and directors.
Forward-Looking Statements
This news release contains
"forward-looking statements" within the meaning of the U.S. federal
securities laws, which statements may include information regarding
the plans, intentions, expectations, future financial performance,
or future operating performance of Pharma-Bio Serv. Forward-looking
statements are based on the expectations, estimates, or projections
of management as of the date of this news release. Although
Pharma-Bio Serv's management believes these expectations,
estimates, or projections to be reasonable as of the date of this
news release, forward-looking statements are inherently subject to
significant business risks, economic and competitive uncertainties,
or other contingencies, which could cause its actual results or
performance to differ materially from what may be expressed or
implied in the forward-looking statements. Important factors that
could cause Pharma-Bio Serv's actual results or performance to
differ materially from the forward-looking statements include those
set forth in the "Risk Factors" section of Pharma-Bio Serv's Annual
Report on Form 10-K for the year ended October 31, 2016, and in its
other filings with the Securities and Exchange Commission, which
filings are available on www.sec.gov. Pharma-Bio Serv disclaims any intention
or obligation to update or revise any forward-looking statements to
reflect subsequent events and circumstances, except to the extent
required by applicable law.