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MX1 - MICRO-X LIMITED


nipper
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Micro-X Limited (MX1) is an Australian public limited company focused on the design, development and manufacturing of ultra-lightweight CNT based X-ray products for the global healthcare and counter IED imaging security markets. MX1 currently has three products in its development pipeline that leverage the XinRay CNT technology.

 

Since listing in late 2015, it hasn't really gone anywhere except down, spending precious capital on R&D, trying to make inroads

 

Then, some action if not traction

Following the Market Update provided on 13 February 2020, Micro-X has now received additional purchase orders for Nano units totalling approximately A$1.0 million, bringing the total sales orders to $1.8million for the current Quarter. The majority of these sales orders will be recognised as revenue this Quarter and the balance in the June 2020 Quarter. These $1.8million of orders demonstrate strong growth and uptake as compared to $0.2M sales for the December 2019 Quarter and $1.9M sales for the whole of FY2019. These additional purchase orders are for delivery to Asia and Europe.

 

As with the previous purchase orders there is a requirement for urgent delivery within a 4 week time frame. The orders do not specify the end customer use although it is understood that due to the size and urgency of the orders, some of these Nano units are to be deployed in connection with the ongoing COVID-19 (formerly 2019-nCoVor Coronavirus) epidemic.

 

Micro-X continues to work with its supply chain partners to maximise its ability to respond to any future such requirements to deliver Nano units in a very short time frame.While the standard lead time for the delivery of a Nano is between 8-12 weeks from order date, Micro-X has been able to deliver its recent February orders within a time frame of approximately 4 weeks from order date.

As previously announced, early-stage diagnosis of Coronavirus is by a blood test to confirm the infectious agent, and a chest x-ray is used as an essential part of diagnosis of the development and progression of the severity of the illness. Like with pneumonia, a chest x-ray is used to detect fluid in the lungs, particularly with patients presenting with severe acute respiratory distress. The World Health Organisation has defined a criterion for diagnostic progression of the Coronavirus infection from âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“Confirmed Caseâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ to âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“Severe Illnessâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ as a chest x-ray with multi-lobar infiltrates or pulmonary infiltration which has progressed more than 50% within 24-48 hours.

 

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