The Sum of the Parts

I think ITD is a little company of substance and it's more accurate to describe it as a development story than a turnaround story.

Very happy with the Q1 results. In rough figures if the MHT segment wasn't there we would have a Q1 profit of around $800k, say $3.2m pa for the stand alone devices business - and no way an M/Cap of $16m IMO.

I'm still happy because I think self testing kits are the future. We have internally funded and mostly expensed the development burden of 4, versus initial revenue from only 1 and 3 straining to sell but awaiting approval. I think this business segment is just in its infancy and has every chance of looking a lot different when it is actually generating revenue from all its products. In fact, it only has to break even to make ITD look very cheap.

Market not prepared to move it for the moment so I have been slowly building a holding.