Business
Company Update
Company Update.
About this update from Metir Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nFOR IMMEDIATE RELEASE\n \n \nMicrosaic Systems plc\n \n(\"Microsaic\" or the \"Company\")\n \nCompany update\n \nMicrosaic Systems plc (AIM: MSYS), the developer of microelectronic instruments and provider of integrated Modern Water analytical solutions, is pleased to announce the following update.\n \nResearch & Development Tax Credit \n \nThe Company is also pleased to announce it has now received a research and development tax credit from HMRC in the amount of £262,000 for qualifying costs expended in 2022. These costs primarily relate to research and development work by the Company on the pathogen detector for identifying Covid-19 in water. As previously announced, the Company is further developing a device to identify and monitor a wide range of pathogens in water, by adapting the Covid-19 model into an online multi-pathogen detector capable of delivering rapid results.\n \nBusiness Restructuring\n \nHaving restructured the business at the turn of the year, the Board remains committed to the Company's reset objectives starting this year and to applying a business plan built on the integration of the Microsaic Systems and Modern Water technologies. This technical integration for water testing services is now branded and marketed as 'Tethys Puri...