Intelligent Bio Solutions Inc. (NASDAQ:INBS) Awards Fully Vested Shares to Top Executives
Intelligent Bio Solutions Inc., a leading company in surgical and medical instruments, recently awarded fully vested shares to its top executives. CEO Harry Simeonidis received 40,000 shares, while CFO Spiro Sakiris was granted 34,500 shares. The awards were based on the closing price of the company's stock on September 25, 2024, totaling $76,400 for Simeonidis and $65,895 for Sakiris. The decision was made by the Compensation Committee to reward the performance of key officers.
Intelligent Bio Solutions has been making significant progress in its operations, including completing a key phase in its FDA 510(k) submission process for its sweat-based drug testing method. The company also announced a $3 million stock offering to fund working capital and reported notable revenue growth.
InvestingPro Insights:
- INBS has shown impressive revenue growth of 147.58% over the last twelve months.
- However, the company is not profitable, with a negative operating income.
- The stock has been volatile, with a strong return over the last month but a significant decline over the past year.
Overall, Intelligent Bio Solutions Inc. is experiencing growth in revenue but struggling with profitability. Investors should consider the company's financial health and market performance before making any investment decisions.