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 £253,000 (£381,000) on revenues of £58,000 (£18,000).
Current cash reserves are £360,000 said RMS.
