Market cap $50 million with about $15 million cash, $5 million convertible notes.
Manufactures portable x-ray machines for hospitals, FDA, CE Mark, TGA approved. Recently raised capital at 14c to expand production due to covid demand. X-rays are used to assess lung condition in treatment. Due for a sales update. Sells exclusively through Carestream Healthcare, who own 3% of shares.
Relationship with US and Australian defense forces for a portable bomb detection x-ray machine, currently going through approval process, expected to take another two months. This will save lives and be a big seller.
Relationship with Thales (who own convertible notes in MX1) for an airport x-ray scanner product to be sold globally.
3.7% of the company changed hands yesterday after the close in a crossing. This might be the last of the retail underwriting shares which have been keeping the share price pinned to 14c or below.
