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LBT Innovations: Closes in on appointing U.S. distributor

April 29, 2021

LBT Innovations (LBT) has posted its Q3 FY21 report, announcing it’s closing in on appointing a U.S. distributor for APAS Independence technology
The healthcare stock’s joint venture business, Clever Culture Systems (CCS), is progressing the appointments with a distributor expected to signed by the end of the October quarter
In terms of sales, LBT said COVID-19 continues to impact its ability to facilitate sales due to travel restrictions and some hospitals remaining closed to guests
LBT ended March 31 well-funded with $11.3 million in the bank, enough cash to keep the company going for another 94.7 quarters
The business has also begun the process of rejuvenating its board, with recruitment underway to find a new chair and non-executive director
Shares in LBT Innovations are trading down 3.41 per cent at 8.5 cents per share