Design, development and manufacturing of ultra-lightweight CNT based X-Ray products for the global healthcare and counted IED imaging security markets.

• No profit posted yet.
• In danger of going broke a few years ago and a history of regulatory screw ups.
• Recent substantial holder purchase
• Financials
  • Revenue increase of 189% in HY ending in 2020
  • Cash balance 38 million as of March 2021.
• Impressive IP
• Products in various development stages
  • Carestream DRX Revolution Nano (the Nano) – mobile digital xray device – commercialization stage, accepting orders – CV19 tailwinds.  
  • Rover: Since FDA clearance in July 2020, Micro-X has been focusing most of its sales efforts on securing Rover business with its target military customers in the Australian, US and UK armed forces. Agreements for distribution with dealerships in USA and Europe. This agreement for sales of Rover units totaling $1.4 million has been enabled by the World Health Organisation – demonstrates the attractiveness of Rover’s flexibility and extreme mobility across a broad range of operational scenarios.
    • AUS
      • 17-Dec-2020:  $1.3M Rover contract with ADF
      • Veterinary market use as of 1 July 2021 (x ray altered slightly for their use)
    • USA: FDA approved, US healthcare mobile xray market estimated to be 170m annually. DOD Vet Affairs are one of partners being supplied Rover?
    • Europe: 3-year term distribution agreement with Roesys (Germany) – company will promote, market and distribute Rover tech in hospitals and other areas.
  • IED x-ray camera – development stage – first public showing in April 2021 @ Army Robotics Exposition 2021.
  • Airport Self-Service Security Checkpoint – US homeland security – up to 4 mil contracts

How to monitor going forward

• Roll out of Mobile DR sales of Nano and Rover.
• TGA approval for Rover to be sold in EU and AUS.
• Rover/US military – contract later in year?
• Growing veterinary market due to attractive price point and user centric design

DISC: NOT HELD