Ann: ITL Launches more Blood Sector Products, page-10

last HY report, DEC 17 The company had 17 c per share of NTA.
It seems as if Mr market is discounting profitability.

My Health test will take sometime before reaching cash flow positive, that will drain most profit out of the devices sold for the blood market in the profitable Biomedical part.

They are introducing new apparatus/devices this year, but that may take time to filter to the bottom line,

investors are pulling out not willing to wait for the next cycle of large orders and the lift in new markets and profitability.

I suspect investing in this opaque state will require patience, meanwhile, SP can get ridiculously cheap.
As no buyers seem to be interested including management that already owns a large portion of the business.

well, I plunged in, a bit early it seems, and not expecting miracles.
But i do believe in this niche market as well as the company Intellectual Property. all the years of R&D cannot be dismissed and annulled from the business valuation.