Remote Monitored Systems expects substantial revenues from P2F’s face masks

0 27

Remote Monitored Systems PLC (LON:RMS) said it expects substantial revenues to be generated by new acquisition Pharm 2 Farm from the sale of anti-viral face masks.

The acquisition is still conditional on shareholder approval but Trevor Brown, chief executive, said: “Since we announced the proposed acquisition, the market for Pharm 2 Farm products, in particular for face masks, has continued to grow exponentially.

P2F is setting up a production line that will be able to produce up to 5mln standard or anti-viral face masks per month.

“The successful development of a face mask with anti-viral properties will, we believe, generate substantial revenue for the enlarged group,” said Brown.

“Proof of Concept for the efficacy of the anti-viral mask is imminent and mask production is anticipated to commence in the first quarter of 2021”.

Elsewhere, RMS said its Cloudveil risk management arm is currently negotiating with a London-based law firm over a security programme and had also bid for a testing contract for one of the UK’s largest public sector financial services institutions.

Gyrometric, meanwhile, is set to start a three-month trial at a Tarmac cement manufacturing operation now that a site has become available.

RMS added that for the half-year to June it recorded a loss of GBP253,000 (GBP381,000) on revenues of GBP58,000 (GBP18,000).

Current cash reserves are GBP360,000 said RMS.

Leave A Reply

Your email address will not be published.