secwatch.observer — SEC 8-K summary
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Issuer:     INTELLIGENT BIO SOLUTIONS INC. (INBS)
CIK:        0001725430
Form:       8-K
Filed at:   2022-10-11T23:59:59+00:00
Accession:  0001493152-22-028015
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GBS acquires Intelligent Fingerprinting for stock; expands non-invasive drug testing
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- Acquired IFP for 2,963,091 common shares + 2,363,003 Series C preferred; up to 1,649,273 additional preferred reserved.
- IFP's 10-min fingerprint sweat test detects opioids, cocaine, methamphetamines, benzodiazepines, marijuana; over 200 customers.
- Board increased to 7 members; Jason Isenberg and David Jenkins appointed as directors.
- Preferred shares convertible into 3 common shares, subject to shareholder approval; 12-month lock-up on issued shares.
- GBS to file TGA application for IFP's CE Mark in Australia; IFP's UK ISO 13485 facility complements GBS Australia facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1725430/000149315222028015/0001493152-22-028015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1725430/000149315222028015/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-028015

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