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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): September 3, 2024
INTELLIGENT
BIO SOLUTIONS INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-39825 |
|
82-1512711 |
(State
of Incorporation) |
|
(Commission
File Number) |
|
(IRS
employer identification no.) |
135
West, 41st Street, 5th
Floor, New
York, NY
10036
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (646) 828-8258
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.01 par value |
|
INBS |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
7.01 Regulation FD Disclosure.
On
September 3, 2024, Intelligent Bio Solutions Inc. (the “Company”) issued a press release (the “Press Release”)
announced significant growth in its customer employee base, reporting a 118% fiscal year-over-year increase in the estimated total number
of employees across its customer base. A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The foregoing disclosure is qualified in its entirety by the full text of the Press Release.
The
information contained in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed
to be “filed” for the purpose of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall
it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, unless specifically
identified therein as being incorporated by reference.
Item
9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
September 3, 2024 |
|
|
|
INTELLIGENT
BIO SOLUTIONS INC. |
|
|
|
|
By:
|
/s/
Spiro Sakiris |
|
Name:
|
Spiro
Sakiris |
|
Title: |
Chief
Financial Officer |
Exhibit
99.1
Intelligent
Bio Solutions Inc. Reports 118% Year-Over-Year Growth in Customer Employee Base, Reaching an Estimated Total of 1.4 Million Employees
NEW
YORK, September 03, 2024 - Intelligent Bio Solutions Inc. (NASDAQ: INBS) (“INBS” or the “Company”), a leader
in non-invasive drug testing technology, today announced significant growth in its customer employee base, reporting a 118% fiscal year-over-year
increase in the estimated total number of employees across its customer base.
As
of June 30, 2024, the estimated number of employees within INBS’ global customer base has grown by 720,000 compared to an increase
of 329,000 the fiscal year prior, bringing the estimated total customer employee base to 1.4 million*. The average number of global employees
per new customer in the 2024 fiscal year was 6,500, more than double the average of 3,000 employees per new customer the fiscal year
prior. This growth reflects the growing interest and adoption of the Company’s Intelligent Fingerprinting Drug Screening System,
particularly in industries with high occupational health and safety risks.
The
primary industries served by INBS, and their estimated number of employees, include Mechanical or Industrial Engineering (258,578 employees),
Construction (203,777 employees), Building Materials (194,402 employees), Mining & Metals (171,327 employees), Hospital & Health
Care (63,751 employees), Civil Engineering (54,602 employees), and Transportation/Trucking/Railroad (46,130 employees).
The
Intelligent Fingerprinting Drug Screening System, which consists of the DSR Plus reader and the Fingerprint Drug Screening Cartridge,
is designed to detect the use of certain illicit drugs within the prior 16-24 hour period to help ensure that employees are “fit
for work” and able to perform their duties safely and effectively. Ensuring that employees are “fit for work” is crucial
in industries where worker impairment can significantly threaten workplace safety and public health.
Harry
Simeonidis, President and CEO at INBS, commented, “The substantial growth of our customer employee base highlights our drug screening
technology’s critical role in safeguarding workplace safety across high-risk industries. Our ongoing mission is to work closely
with our customers to identify areas within the workforce where the risk of impairment from illicit drug use is most concerning and help
to ensure that every employee is fit to perform their job safely.”
As
INBS continues to expand its reach, the Company remains committed to providing innovative and effective drug screening solutions for
industries where safety is paramount.
*
The customer employee base estimate of 1.4 million employees was derived by aggregating publicly available data on the total number of
employees for each INBS customer. Where employee ranges were provided, the midpoints were used for calculation. This estimate excludes
customers for whom employee data is not publicly available. The total represents all employees within these organizations, including
those who will not be tested using the Intelligent Fingerprinting Drug Screening System. The Company does not have the data to incorporate
the percentage of employees tested using the Intelligent Fingerprinting Drug Screening System at each INBS customer. The growing customer
employee base is a basic indication of the increased utilization of the Intelligent Fingerprinting Drug Screening System. The nature
of work performed by certain employees or restrictions in specific jurisdictions may mean that drug testing is not necessary or applicable
for all employees.
About
Intelligent Bio Solutions Inc.
Intelligent
Bio Solutions Inc. (NASDAQ: INBS) is dedicated to pioneering non-invasive medical technology solutions. Our mission is to deliver innovative,
reliable, and user-friendly products that enhance drug testing and screening processes, ultimately contributing to safer and healthier
workplaces.
Forward-Looking
Statements
Some
of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and
uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.’s ability
to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations,
and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such
forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results
expressed or implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements
by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,”
“projects,” “intends,” “potential,” “may,” “could,” “might,”
“will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes
to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties,
and other factors, included in Intelligent Bio Solutions’ public filings filed with the Securities and Exchange Commission. Any
forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to
update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect
the occurrence of unanticipated events.
Company
Contact:
Intelligent
Bio Solutions Inc.
info@ibs.inc
LinkedIn | Twitter
Investor
& Media Contact:
Valter
Pinto, Managing Director
KCSA
Strategic Communications
PH:
(212) 896-1254
INBS@kcsa.com
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