Core Insights - Intelligent Bio Solutions Inc. has surpassed 450 active accounts across 24 countries, driven by global demand for its fingerprint drug testing solutions [1][2][5] - The company added 35 new accounts in fiscal Q3, highlighting the growing adoption of its Intelligent Fingerprinting Drug Screening System, which provides results in under ten minutes [2][5] - The company is expanding into various sectors, including luxury marine, waste and recycling in Australia, and retail, indicating a strategic focus on high-demand markets [3][8] Company Growth and Expansion - Recent commercial milestones include entry into the luxury marine sector in Europe and expansion into regional testing programs in Australia [3] - The distributor network has grown to 19 countries through 18 partners, enhancing localized support and market access [4] - The company aims to strengthen its position in safety-critical industries, with plans for entry into the multi-billion-dollar U.S. market [5][6] Product and Technology - The Intelligent Fingerprinting Drug Screening System is designed for rapid, non-invasive testing, screening for drugs commonly found in the workplace [6] - The technology allows for sample collection in seconds and delivers results in under ten minutes, making it a valuable tool for employers [6] - The system's portability and ease of use are key factors driving its adoption across various industries [2][5]

INTELLIGENT BIO SOLUTIONS INC. 2019 Long Term Incentive Plan [Purpose and Definitions](index=1&type=section&id=Section%201.%20Purpose%3B%20Definitions.) This section defines the plan's purpose to incentivize key personnel and provides detailed definitions for critical terms - The plan's purpose is to offer **long-term incentive awards** to **key personnel** whose contributions are important to the success of the Company and its subsidiaries[2](index=2&type=chunk) - A "Change of Control" is defined as the acquisition of **more than 50%** of the company's stock value or voting power by a person or group[7](index=7&type=chunk) - "Fair Market Value" is generally defined as the **last sale price** of the Common Stock on a national securities exchange on a given date[11](index=11&type=chunk) [Plan Administration](index=3&type=section&id=Section%202.%20Administration.) This section details the plan's administration by the Board or a Committee, granting authority over awards while prohibiting option repricing - The plan is administered by the **Board** or a **Committee** of at least two "non-employee" directors[22](index=22&type=chunk) - The Committee has the authority to grant **Stock Options**, **Stock Appreciation Rights (SARs)**, **Restricted Stock**, **Restricted Stock Units (RSUs)**, and **Other Stock-Based Awards**[23](index=23&type=chunk) - The Committee is explicitly **prohibited from modifying outstanding Options or SARs to reduce their exercise price** or canceling them in exchange for cash or a new award with a lower exercise price[24](index=24&type=chunk) - Awards to any single non-employee director are limited to a maximum of **50,000 shares** of Common Stock in any given year[26](index=26&type=chunk) [Stock Subject to the Plan](index=4&type=section&id=Section%203.%20Stock%20Subject%20to%20Plan.) This section specifies total shares reserved, outlines adjustments for capitalization changes, and allows substitute awards in mergers Share Pool Information | Share Pool Information | Value | | :--- | :--- | | Total Shares Reserved | 1,300,000 | - Forfeited or terminated awards will have their shares **returned to the available pool** for future grants. However, shares used to pay the exercise price or satisfy tax withholding obligations will **not be returned to the pool**[28](index=28&type=chunk) - In the event of stock dividends, splits, or other capitalization changes, the Committee has the authority to **equitably adjust awards** to prevent dilution or enlargement of benefits[29](index=29&type=chunk) [Eligibility](index=4&type=section&id=Section%204.%20Eligibility.) This section defines eligibility for awards, including employees, officers, directors, and consultants, while restricting Incentive Stock Options (ISOs) to employees - Eligible participants include **employees, officers, directors, and consultants** of the Company or its Subsidiaries[32](index=32&type=chunk) - Incentive Stock Options (ISOs) are **restricted to employees** of the Company, its Parent, or its Subsidiaries[32](index=32&type=chunk) [Stock Options](index=5&type=section&id=Section%205.%20Stock%20Options.) This section details terms for ISOs and NQSOs, including maximum terms, minimum exercise prices, and rules for exercise and termination - The plan allows for the grant of both **Incentive Stock Options (ISOs)** and **Non-qualified Stock Options (NQSOs)**[33](index=33&type=chunk) Option Term & Price Rules | Option Term & Price Rules | Condition | | :--- | :--- | | **Maximum Term** | | | Standard Option | 10 years from grant date | | ISO for 10% Shareholder | 5 years from grant date | | **Minimum Exercise Price** | | | Standard Option | 100% of Fair Market Value at grant | | ISO for 10% Shareholder | 110% of Fair Market Value at grant | - Upon termination, vested options generally remain exercisable for a limited period: **one year for death or disability**, and **three months for other terminations** without cause, unless specified otherwise in the award agreement[41](index=41&type=chunk)[42](index=42&type=chunk)[44](index=44&type=chunk) - The aggregate Fair Market Value of shares for which ISOs become exercisable for the first time in a calendar year cannot exceed **$100,000** per holder[45](index=45&type=chunk) [Stock Appreciation Rights (SARs)](index=7&type=section&id=Section%206.%20Stock%20Appreciation%20Rights.) This section describes Stock Appreciation Rights (SARs), which can be standalone or tandem awards, allowing holders to receive stock value appreciation settled in cash or shares - SARs can be granted **in tandem with an option** or as a **standalone award**[48](index=48&type=chunk) - Upon exercise, the holder receives the SAR Value, which is the **excess of the Fair Market Value on the exercise date over the grant date price**. Settlement can be in **cash or Common Stock**[19](index=19&type=chunk)[51](index=51&type=chunk) [Restricted Stock and Restricted Stock Units (RSUs)](index=7&type=section&id=Section%207.%20Restricted%20Stock%3B%20Restricted%20Stock%20Units.) This section details Restricted Stock and RSU grants, outlining voting rights, forfeiture conditions, and settlement terms, including potential dividend equivalents - Holders of Restricted Stock have **voting rights**, but the company **retains custody** of the certificates and any dividends during the restriction period. Unvested stock is forfeited[55](index=55&type=chunk)[56](index=56&type=chunk) - Holders of RSUs have **no stockholder rights** until the shares are delivered upon settlement. The Committee may grant **dividend equivalents** on RSUs[58](index=58&type=chunk)[59](index=59&type=chunk) [Other Stock-Based Awards](index=8&type=section&id=Section%208.%20Other%20Stock-Based%20Awards.) This section grants the Committee flexibility to issue other Common Stock-referenced awards, including performance-based types, to meet diverse compensation needs - The Committee can grant **various other awards** denominated or payable in, or valued by reference to, Common Stock, including **performance-based awards**[60](index=60&type=chunk) [Accelerated Vesting and Exercisability](index=9&type=section&id=Section%209.%20Accelerated%20Vesting%20and%20Exercisability.) This section outlines award treatment during a Change of Control, detailing immediate vesting for unapproved changes and Committee discretion for approved transactions - In a Change of Control not approved by the Board, all outstanding awards will **fully and immediately vest**[62](index=62&type=chunk) - In an approved Change of Control or Asset Sale, the Committee has **discretion to accelerate vesting, require holders to relinquish awards for their Repurchase Value, or terminate awards**[63](index=63&type=chunk) [Amendment and Termination](index=9&type=section&id=Section%2010.%20Amendment%20and%20Termination.) This section grants the Board authority to amend or terminate the plan, provided existing award rights are not impaired without consent - The Board may amend or terminate the plan, but **cannot impair a holder's existing rights without their consent**[65](index=65&type=chunk) - **Shareholder approval is required** for amendments where mandated by the Code, other laws, or stock exchange listing requirements[65](index=65&type=chunk) [Term of Plan](index=9&type=section&id=Section%2011.%20Term%20of%20Plan.) This section establishes the plan's effective date prior to IPO and limits new Incentive Stock Option (ISO) grants to a ten-year period - The plan's effective date is the day **immediately prior to the consummation of the Company's initial public offering (IPO)**[66](index=66&type=chunk) - The granting of Incentive Stock Options (ISOs) is only permitted during the **ten-year period** beginning on the Effective Date[67](index=67&type=chunk) [General Provisions](index=10&type=section&id=Section%2012.%20General%20Provisions.) This section covers various legal and administrative aspects, including clawback clauses, tax withholding, data privacy, Section 409A compliance, and governing law - The Committee may require a holder to **return the economic value of an award** if, within 12 months of termination, the holder **competes with the company, solicits customers/employees, or discloses confidential information**[71](index=71&type=chunk) - The holder is **responsible for paying all applicable withholding taxes**, and the Company can require payment arrangements before issuing shares. Payment can be made with stock from the award if permitted[84](index=84&type=chunk) - Awards are **subject to clawback** as required by any law, government regulation, or stock exchange listing requirement[85](index=85&type=chunk) - The plan and all awards are **governed by the laws of the State of Delaware**[86](index=86&type=chunk) - The plan is intended to **comply with or be exempt from Section 409A of the Code**, and the Committee can amend the plan or awards to ensure compliance[91](index=91&type=chunk)

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Unaudited financial statements for March 31, 2025, show decreased assets and equity, a narrowed quarterly net loss, but a widened nine-month net loss, alongside significant liquidity and going concern issues [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets decreased to **$9.58 million** from **$13.78 million**, primarily due to reduced cash, while shareholders' equity fell to **$4.94 million** from **$8.18 million** Condensed Consolidated Balance Sheet Highlights (Unaudited) | Balance Sheet Item | March 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $2,807,112 | $6,304,098 | | Total current assets | $5,107,331 | $8,534,243 | | Total assets | $9,584,527 | $13,778,863 | | Total current liabilities | $4,564,385 | $5,450,733 | | Total liabilities | $4,640,761 | $5,595,672 | | Total shareholders' equity | $4,943,766 | $8,183,191 | [Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Other%20Comprehensive%20Income%20(Loss)) For Q3 FY2025, revenue decreased, but gross profit and net loss improved, while the nine-month period saw a slight revenue decline and a widened net loss Statement of Operations Highlights (Unaudited) | Metric | Q3 FY2025 (3 months) | Q3 FY2024 (3 months) | YTD FY2025 (9 months) | YTD FY2024 (9 months) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $728,867 | $823,800 | $2,208,648 | $2,383,957 | | Gross Profit | $341,368 | $178,489 | $911,282 | $610,068 | | Loss from Operations | ($2,553,248) | ($2,953,735) | ($7,542,991) | ($7,471,457) | | Net Loss Attributable to INBS | ($2,543,526) | ($2,977,667) | ($7,478,629) | ($7,372,512) | | Net Loss Per Share | ($0.44) | ($1.43) | ($1.59) | ($6.64) | [Condensed Consolidated Statements of Changes in Shareholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Shareholders' equity decreased from **$8.18 million** to **$4.94 million** due to a **$7.48 million** net loss, partially offset by capital raised from stock issuances - Total shareholders' equity decreased from **$8,183,191** on June 30, 2024, to **$4,943,766** on March 31, 2025[14](index=14&type=chunk)[15](index=15&type=chunk) - The decrease in equity was primarily due to a cumulative net loss of **$7,478,629** for the nine months ended March 31, 2025, offset by proceeds from stock issuances[14](index=14&type=chunk)[15](index=15&type=chunk)[11](index=11&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended March 31, 2025, cash used in operations increased, financing cash decreased significantly, resulting in a **$3.50 million** net cash decrease and an ending balance of **$2.81 million** Cash Flow Highlights (Unaudited, Nine Months Ended March 31) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($7,467,356) | ($6,627,555) | | Net cash used in investing activities | ($23,321) | ($54,118) | | Net cash provided by financing activities | $3,995,808 | $14,555,243 | | Net (decrease) increase in cash | ($3,496,986) | $7,860,279 | | Cash and cash equivalents, end of period | $2,807,112 | $9,397,523 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's medical technology business, significant liquidity issues, and substantial doubt about its going concern ability, highlighting its two operating segments and recent capital raising efforts - The company is a medical technology firm focused on rapid, non-invasive testing solutions[23](index=23&type=chunk) - Management has concluded there is substantial doubt about the Company's ability to continue as a going concern due to insufficient cash to fund operations for the next 12 months. The company will need to raise additional funds[28](index=28&type=chunk)[29](index=29&type=chunk) - The company operates through two segments: Intelligent Fingerprinting Products (IFPG), which accounted for **100% of revenue**, and the development-stage Biosensor Platform Technology (BPT)[49](index=49&type=chunk)[51](index=51&type=chunk) - Subsequent to March 31, 2025, the company raised an additional **$135,351** through its ATM offering and issued **4,892** shares upon cashless warrant exercises[73](index=73&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses decreased quarterly revenue, significantly improved gross profit margin due to sales mix and efficiency, stable operating expenses, and increased nine-month development costs, while emphasizing ongoing liquidity challenges and going concern doubts despite recent capital raises [Highlights of Achievements](index=22&type=section&id=Highlights%20of%20Achievements) Key achievements include securing a sixth U.S. patent, expanding European and Middle Eastern market presence, integrating Arabic into the screening system, and adding **35** new customer accounts, totaling over **450** across **24** countries - Granted a new U.S. patent for its Intelligent Fingerprinting Drug Screening Cartridge, its **sixth** patent[83](index=83&type=chunk) - Expanded access to its drug testing in Spain and Andorra and strengthened its European and Middle Eastern foothold through new partnerships[83](index=83&type=chunk) - Secured **35** new customer accounts during the quarter, reaching a total of over **450** active accounts in **24** countries[83](index=83&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Q3 2025 revenue decreased, but gross profit margin significantly improved due to sales mix and lower production costs, while nine-month development expenses increased due to FDA clinical study costs, leading to a narrowed quarterly net loss Revenue by Product (IFPG Segment) | Product | Q3 2025 (3 months) | Q3 2024 (3 months) | YTD 2025 (9 months) | YTD 2024 (9 months) | | :--- | :--- | :--- | :--- | :--- | | Cartridges | $442,029 | $448,868 | $1,278,840 | $1,159,876 | | Readers | $165,801 | $227,361 | $520,374 | $752,052 | | Other sales | $121,037 | $147,571 | $409,434 | $472,029 | | **Total Revenue** | **$728,867** | **$823,800** | **$2,208,648** | **$2,383,957** | Gross Profit Margin Analysis | Metric | Q3 2025 (3 months) | Q3 2024 (3 months) | YTD 2025 (9 months) | YTD 2024 (9 months) | | :--- | :--- | :--- | :--- | :--- | | Gross Profit | $341,368 | $178,489 | $911,282 | $610,068 | | Gross Profit Margin | 46.84% | 21.67% | 41.26% | 25.59% | - The increase in gross profit margin is attributed to a higher proportion of revenue from high-margin cartridges and enhanced production capacity leading to reduced direct labor and overhead costs[93](index=93&type=chunk) - Development and regulatory approval expenses increased by **$890,335** for the nine months ended March 31, 2025, primarily due to costs associated with the FDA 510(k) clinical study plan[104](index=104&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company's cash and working capital are insufficient to fund operations for the next twelve months, raising substantial doubt about its going concern ability, despite recent capital raises of approximately **$1.49 million** from an ATM offering and **$2.65 million** from a public offering - As of March 31, 2025, the company had **$2,807,112** in cash and cash equivalents and **$542,946** in working capital[121](index=121&type=chunk) - The company raised approximately **$1.49 million** (net) through its ATM Agreement between September 2024 and March 2025[122](index=122&type=chunk) - A February 2025 public offering raised approximately **$2.65 million** (net)[123](index=123&type=chunk) - Management believes there is a material risk that current cash is insufficient to fund operations for the next twelve months, raising substantial doubt about the company's ability to continue as a going concern[124](index=124&type=chunk)[148](index=148&type=chunk) [Controls and Procedures](index=31&type=section&id=Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of March 31, 2025, due to a material weakness in internal control over financial reporting, with an ongoing remediation plan to address deficiencies - Management concluded that disclosure controls and procedures were ineffective as of March 31, 2025[135](index=135&type=chunk) - A material weakness was identified relating to the control environment, risk assessment, control activities, and monitoring, including limited accounting personnel and a lack of formally documented procedures[137](index=137&type=chunk) - The ongoing remediation plan includes adding accounting personnel, enhancing controls for complex accounting, engaging experts, and implementing a new accounting system[138](index=138&type=chunk)[139](index=139&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings - The company is not currently engaged in any material legal proceedings[146](index=146&type=chunk) [Item 1A. Risk Factors](index=33&type=page&id=Item%201A.%20Risk%20Factors) The company faces material risks including the need for additional capital, a **$2.28 million** grant refund liability due to unmet milestones, and development delays for its Biosensor Platform Technology (BPT) due to intellectual property licensing issues - The company needs to raise additional capital to continue operations, and there is substantial doubt about its ability to continue as a going concern. Failure to secure funding could force it to cease or scale back operations[148](index=148&type=chunk)[149](index=149&type=chunk) - The company failed to meet milestones for an Australian government grant and will be required to refund a portion of the funds. The liability for this refund is recorded as **$2,278,681** as of March 31, 2025[150](index=150&type=chunk) - Development of the Biosensor Platform Technology (BPT) is postponed due to the liquidation of the licensor, LSBD. The company faces risks of extended delays or unfavorable terms in renegotiating the IP license with the University of Newcastle[151](index=151&type=chunk)[153](index=153&type=chunk)[154](index=154&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not sell any unregistered securities during the period, other than those previously disclosed in Form 8-K filings - No unregistered securities were sold during the period, other than those previously reported on Form 8-K[155](index=155&type=chunk) [Item 6. Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the quarterly report, including the Underwriting Agreement, officer certifications, and Inline XBRL data files - Exhibits filed include the Underwriting Agreement dated February 20, 2025, certifications by the CEO and CFO, and XBRL financial data[159](index=159&type=chunk)

Core Insights - Intelligent Bio Solutions Inc. reported a 20% sequential quarterly revenue growth and a 91% year-over-year gross profit growth for the fiscal third quarter ended March 31, 2025 [1][10] - The company achieved a significant increase in recurring higher-margin cartridge sales, which now account for 58% of total sales for the nine months ended March 31, 2025 [1][13] - The active customer base grew to over 450 accounts, with 35 new accounts added during the quarter, indicating strong customer acquisition and expansion efforts [2][8] Financial Performance - Revenue for the three months ended March 31, 2025, increased by $121,373, or 20%, to $728,867 compared to $607,494 for the previous quarter [10][13] - Gross profit for the same period rose by $162,879, or 91%, to $341,368 from $178,489 year-over-year [10][13] - Total revenue for the nine months ended March 31, 2025, was $2.21 million, a decrease from $2.38 million for the same period in 2024 [10][13] Business Strategy and Growth - The company is advancing its international growth strategy with initiatives such as expanded access in key European markets and multilingual upgrades to its drug screening system [3][4] - A focus on growing cartridge adoption is strengthening the business fundamentals, contributing to margin improvement and operational efficiency [4][8] - The company launched localized websites in multiple languages and activated multi-channel advertising campaigns targeting safety-critical industries [8][9] Regulatory and Product Development - The company granted a patent in the U.S. for the Intelligent Fingerprinting Drug Screening Cartridge, marking its sixth U.S. patent [13] - Continued regulatory scoping in Canada, Indonesia, and the Philippines supports the long-term expansion strategy [13]

Arabic, Italian, and Spanish-language websites unlock commercial access to regions representing over 1.4 billion people "This is not just a translation project; it's a commercial growth engine," said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. "By localizing our online presence and sales infrastructure to make it ready for use by customers across the globe, we are building scalable access to high-potential markets. These initiatives are the foundation for strengthening distributor rela ...

Company expands Intelligent Fingerprinting Drug Screening System multilingual capabilities to meet growing demand across Latin American Spanish-speaking markets Latin American drug screening market projected to reach USD 1.1 billion by 2030 Expansion is part of major multilingual Drug Screening System upgrade, targeting over 4 billion potential users worldwide NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (NASDAQ:INBS) ("INBS" or the "Company"), a medical technology company del ...

Core Viewpoint - Intelligent Bio Solutions Inc. has integrated Arabic as the second international language into its Intelligent Fingerprinting Drug Screening System, enhancing accessibility for Arabic-speaking organizations and reinforcing its presence in the Middle East [1][2][4]. Company Developments - The integration of Arabic follows the company's expansion plans in the Middle East through a partnership with Ivy Diagnostics, targeting a market where Arabic is spoken by approximately 450 million people [2][4]. - The addition of Arabic is expected to improve usability for organizations in safety-critical industries, law enforcement, and drug rehabilitation, aligning with the growing global demand for innovative drug testing solutions [2][3]. Market Potential - The workplace drug testing market in Saudi Arabia is projected to reach $64.5 million by 2030, indicating significant growth opportunities for the company in the region [3]. - The integration of Arabic will facilitate the incorporation of the company's technology into existing safety protocols, enhancing workplace safety standards [3]. Strategic Growth - The integration of Arabic is a key milestone in the company's broader international growth strategy, which includes scaling operations across North and South America, Europe, Asia Pacific, and the Middle East [4]. - The company aims to expand its presence in 19 countries and has made strategic milestones, including a recent FDA 510(k) submission and plans to enter the multi-billion dollar U.S. market in 2025 [4].

NEW YORK, March 28, 2025 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (NASDAQ:INBS) ("INBS" or the "Company"), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced its participation as a gold sponsor at the 2025 National Drug and Alcohol Screening Association (NDASA) Conference and Trade Show, taking place from April 1 – 4 in Jacksonville, Florida. Daniel Brown, Head of Clinical Affairs at Intelligent Bio Solutions, will present at the Internation ...

Company Overview - Intelligent Bio Solutions Inc. (INBS) has secured a key patent in the United States for its Intelligent Fingerprinting Drug Screening Cartridge, marking its sixth active patent in the U.S. [1][4] - The company aims to enhance its competitive edge and accelerate the commercialization of its technology as it approaches market launch [2][4]. Market Position and Financials - INBS currently has a market capitalization of $11.9 billion and anticipates an earnings growth of 80.4% in 2025 [5]. - Following the patent announcement, INBS shares fell by 5.1%, closing at $1.67, with a 6-month decline of 8.2%, compared to the industry's 13.2% decline [3]. Product and Technology - The Intelligent Fingerprinting Drug Screening Cartridge is a non-invasive drug testing solution that detects drug metabolites through fingerprint sweat analysis, offering rapid and hygienic screening [9][10]. - The cartridge collects a small sweat sample and provides results in minutes, eliminating the need for invasive sample collection and reducing contamination risks [10]. Intellectual Property and Competitive Advantage - INBS has developed a robust intellectual property portfolio, with six active U.S. patents covering various aspects of its drug screening technology [6][8]. - The strengthened IP protection reduces imitation risks and reinforces investor confidence in the company's long-term growth potential [4]. Industry Prospects - The global drug screening market was valued at $7.7 billion in 2023 and is projected to grow at a CAGR of 16.6%, reaching $19.5 billion by 2029, positioning INBS to capitalize on this growth with its patented technology [11].

Company Overview - Intelligent Bio Solutions Inc. (INBS) is a medical technology company focused on delivering intelligent, rapid, non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System [6] - The company aims to revolutionize portable testing via fingerprint sweat analysis, which is designed to be hygienic and cost-effective, screening for recent drug use in workplace settings [6] Market Opportunity - The Spanish drug testing market is projected to reach $448 million by 2030, driven by increasing drug abuse prevention efforts, growing acceptance of drug screening for safety, and rising illicit drug use [4] - Major Spanish accounts currently require 1,000 drug testing cartridges per month, indicating a strong demand for INBS' technology [3] Strategic Partnerships - INBS has expanded its access to fingerprint drug testing in Spain and Andorra through a collaboration with Detecto, a division of MTB Distribuciones Tecnologicas SL, which is a leading provider of drug testing solutions in the region [1][2] - Detecto has successfully integrated INBS' solution into existing security protocols for major clients, including Metro Barcelona and a large mine operated by Rio Tinto, enhancing workplace safety [3] Product Acceptance - The fingerprint drug testing system has been well received due to its non-invasive nature, ease of collection, and increased acceptance among workers, along with reduced maintenance costs due to yearly calibration [3] - Detecto is broadening its focus to include law enforcement and rehabilitation sectors, as well as engaging with the maritime industry, indicating strong growth potential in various sectors [4] Industry Focus - Detecto provides consulting services regarding substance abuse in the workplace, emphasizing worker safety and well-being, particularly in high-risk sectors [5] - The company offers training and information on new drugs and technologies, positioning itself as a key player in the prevention and treatment of addictive behaviors in Spain [5]