ImpediMed Limited (ASX: IPD) has finally sold one of its asset named XiTRON technologies to Vitrek, LLC. The reason of the sale was that company finds certain opportunities with SOZO, which is a digital health platform and so that they can completely focus on it. Under the terms and conditions of the sale, Vitrek, LLC is to pay an amount of US$ 500,000 for the net asset of business taking care of test and measurement that will depend on the adjustment on the working capital. ImpediMed has a life long world-wide license for all technology and knowledge related to its business of medical services. The process of selling its subsidiary unit is not subjected to the satisfaction of the previous actions taken. On these grounds company has signed the transaction and the process got completed today.
The managing director and CEO of the company Mr. Richard Carreon expresses his happiness with the transaction and is looking forward to focus more on SOZO in order to have better opportunities where the company has started clinical trial of SOZO to build data regarding the heart failures. Mr. Richard Carreon is believing in the accuracy and noninvasive property of measuring and monitoring even any small fluid changes in the human body. SOZO has great potential in the improvement of the health of patients followed by the savings made in the healthcare system. SOZO has received clearance in monitoring the cause of heart failure from the US FDA and a CE Mark. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]
If we look at the company’s performance report, company has shown a negative performance of -42% in one year in terms of stock price. In a period of 5 years, the company shows a positive performance report of 155.42% and movement of -31.01% for the period of 10 years was noted. For the period ended 30 June 2018, company has made a net comprehensive loss of A$ 26.303 million. Company has total asset worth A$ 41.767 million with total liabilities of A$ 5.765 million indicating a strong capacity to clear is long term obligations. The total shareholders equity is worth A$ 36.002 million. The total current asset of the company is A$ 37.8 million with no current liabilities. The net cash flow used in the operating activities was A$ 23.458 million where the major outflow was made in regards to the payment made to suppliers and employees. As a result of the purchase of property and equipment and the intangible items the net cash used in these investing activities comes around A$ 1,215 million. The net cash flow from the financing activities comes around A$ 0.256 million. There was a net decrease on cash and cash equivalent for this period amounting to A$ 24.417 million. As a result of which company was left with the cash and cash equivalent at the end of the period amounting A$ 31.345 million.
Currently the company the company’s share price is trading at A$ 0.43 with a market capitalization of A$ 164.86 million. The price movement of that shares indicates that the prices might take some dip as the moving average convergence and divergence line (MACD line) was moving below the signal line.
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