25th Sep 2020 14:31
Remote Monitored Systems PLC - data collection and surveying firm based in London - For first half of 2020 posts pretax loss of GBP253,200, narrowing from GBP381,022 recorded the year prior. This is as revenue jumps sharply to GBP57,685 from GBP17,679 and administrative costs fall to GBP267,944 from GBP334,063.
Looking ahead Monitored says it believes its acquisition of Pharm 2 Farm will be a major step for the company. P2F uses a patented process for producing and functionalising nanoparticles for various applications including human, animal and crop health.
"Since we announced the proposed acquisition, the market for Pharm 2 Farm products, in particular for face masks, has continued to grow exponentially. The successful development of a face mask with anti-viral properties will, we believe, generate substantial revenue for the enlarged group. Proof of Concept for the efficacy of the anti-viral mask is imminent and mask production is anticipated to commence in the first quarter of 2021," says Chief Executive Trevor Brown.
Cash held as at June end was GBP254,523, up from GBP74,770 the year before.
Current stock price: 0.46 pence
Year-to-date change: up 42%
By Ife Taiwo; [email protected]
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