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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): February 2, 2024
INTELLIGENT
BIO SOLUTIONS INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-39825 |
|
82-1512711 |
(State
of Incorporation) |
|
(Commission
File Number) |
|
(IRS
employer identification no.) |
142
West, 57th Street, 11th Floor
New
York, NY 10019
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (646) 828-8258
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.01 par value |
|
INBS |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
2.02 Results of Operations and Financial Condition.
On
February 2, 2024, Intelligent Bio Solutions Inc. (the “Company”), issued a press release (the “Press Release”)
announcing preliminary unaudited revenue results for the three months ended December 31, 2023. A copy of the press release is furnished
as Exhibit 99.1 to this Current Report on Form 8-K.
The
information contained herein and in the accompanying exhibits shall not be incorporated by reference into any filing of the Company,
whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated
by specific reference to such filing. The information in this report, including the exhibit hereto, shall not be deemed to be “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section
or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
Item
9.01. Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
February 2, 2024
|
INTELLIGENT
BIO SOLUTIONS INC. |
|
|
|
|
By:
|
/s/
Spiro Sakiris |
|
Name:
|
Spiro
Sakiris |
|
Title: |
Chief
Financial Officer |
Exhibit 99.1
Intelligent
Bio Solutions Inc. Announces Preliminary Unaudited Fiscal Second Quarter and Six-Month Revenue Results
-
Year-over-year unaudited revenue increased 114% for the fiscal second quarter and 337% for the six months ended December 31, 2023 -
NEW
YORK, February 02, 2024 — Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”),
a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced preliminary unaudited revenue
results for fiscal Second Quarter and six months ended December 31, 2023. The Company expects approximate unaudited revenue of $1.56
million for the six months ended December 31, 2023, representing a significant increase of 337% compared to the same period the prior
year, and approximate unaudited revenue of $0.76 million for the second fiscal quarter ended December 31, 2023, representing an increase
of 114% compared to the same period the prior year.
Spiro
Sakiris, Chief Financial Officer at Intelligent Bio Solutions, commented, “Our Q2 and six-month results are very encouraging, showing
strong growth compared to 2022 as we continued our focus on penetrating target markets.”
INBS
further expects a 30% rise in cartridge sales and a 91% rise in reader sales for the six months ended December 31, 2023, compared to
the six months ended December 31, 2022.
“Our
product sales are steadily on the rise due to a growing awareness of our drug screening solution, entry into new markets and expansion
of our global footprint. Last year, we expanded into New Zealand, and we anticipate further market expansion throughout Asia-Pacific
this year,” said Harry Simeonidis, President and Chief Executive Officer at Intelligent Bio Solutions. “Our revenue growth
numbers are indicative of an increasing need for an efficient drug screening solution that reduces risk, saves costs, and promotes productivity.
We aim to maintain this upward trajectory throughout 2024.”
The
preliminary unaudited revenue results for the fiscal second quarter and the six months ended December 31, 2023, are based on information
available to management as of the date of this press release and are, therefore, subject to adjustments based on the Company’s
completion of its quarter-end financial close process. The Company expects to disclose financial results for the fiscal second quarter
and six months ended December 31, 2023, in its upcoming Quarterly Report on Form 10-Q, expected to be filed with the Securities and Exchange
Commission during the week commencing February 5, 2024.
About
Intelligent Bio Solutions Inc.
Intelligent
Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering innovative, rapid, non-invasive testing solutions. The Company
believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis,
which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens
for recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection
in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. Additionally,
the Company’s biosensor platform has the potential to test for up to 130 indications, ranging from glucose to immunological conditions
and communicable diseases. The Company’s current customer segments include construction, manufacturing and engineering, transport
and logistics firms, drug treatment organizations, and coroners.
For
more information, visit: http://www.ibs.inc/
Forward-Looking
Statements:
Some
of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties.
Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.’s ability to successfully
develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure
regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking
statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or
implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology,
including” believes,”“ estimates,”“ anticipates,”“ expects,”“ plans,”“
projects,”“ intends,”“ potential,”“ may,”“ could,”“ might,”“
will,”“ should,”“ approximately” or other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties,
and other factors, included in Intelligent Bio Solutions’ public filings filed with the Securities and Exchange Commission. Any
forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to
update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect
the occurrence of unanticipated events.
Company
Contact:
Intelligent
Bio Solutions Inc.
info@ibs.inc
LinkedIn
| Twitter
Media
Contact:
Cheryl
Billson
Comma
Communications
cheryl.billson@commacomms.com
+44
(0)7791 720460
v3.24.0.1
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