30th October 2020: Analytica Ltd (ASX: ALT), manufacturer of the PeriCoach® system and the Enhanced
Infusion System technologies, has today released its Appendix 4C - Quarterly Cashflow report for the period
ending 30th September 2020.
Analytica is finalising the current development of the PeriCoach to reduce cost of sales and upgrade
features. The coronavirus lockdowns have highlighted the need for in-home delivery of essential, effective
treatments. The PeriCoach is the ideal solution for in-home, clinician-guided treatment of women’s pelvic
floor health.
Announced changes to classification of medical devices in the EU has required an upgrade to Analytica
regulatory systems. Analytica is also working through the regional regulatory clearances required for current
distribution agreements and for jurisdictions being negotiated.
The coronavirus pandemic has severely impacted negotiations and product trials with distribution partners
for the PeriCoach. Distribution discussions for the Enhanced Infusion System have been delayed and supply
of trial product have been delayed due to limited transport. With shutdowns, suspension of travel and the
attention of partners diverted to manage their immediate demands to respond to the pandemic, there have
been limited opportunities to progress distribution agreements. This has delayed the anticipated sales from
these agreements. Despite these handicaps progress has been made.
Costs have been reviewed and tightened to ensure progress with development and to prepare when our
partners are able to finalise negotiations. Directors have agreed to defer payment of directors’ fees to assist
preservation of cash.
Analytica anticipates a R&D tax incentive refund of approximately $650k this quarter. The board is
committed to a capital raising in the new year to fund continued development and marketing and is confident
of support from major shareholder.
The Company at the 30th September 2020 had drawn down $626k of the unsecured revolving working
capital facility for up to $1 million from Halonna Pty Ltd, an entity associated with the Chairman, Dr Michael
Monsour (Facility).
Interest is payable at a commercial unsecured overdraft rate, presently 8.51%, quarterly in arrears. The
Facility must be repaid in full on the earliest of 30 June 2021, completion of an equity raising of more than
$250,000 and 14 days after a change of control event1 occurs in relation to the Company.
ALT Price at posting:
0.3¢ Sentiment: None Disclosure: Held
