Intelligent Bio Solutions issues 75,000 restricted shares for advisory services

Intelligent Bio Solutions Inc. (NASDAQ:INBS) disclosed that its board approved the issuance of 75,000 restricted shares of common stock as equity compensation to MDM Worldwide Solutions, Inc. The shares were issued in connection with MDM’s engagement to provide strategic communication advisory and consulting services to the company.

According to a statement released in a Securities and Exchange Commission filing, the engagement with MDM was formalized through an agreement effective September 11, 2025. The company did not receive any cash proceeds from the transaction, as the shares were issued solely in exchange for services rendered. This move comes as the company faces financial challenges, with InvestingPro analysis indicating INBS is quickly burning through cash and has not been profitable over the last twelve months.

The issuance was conducted as an unregistered sale of equity securities, relying on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933. Intelligent Bio Solutions is incorporated in Delaware and its common stock trades on The Nasdaq Stock Market under the symbol INBS.

This information is based on a press release statement contained in the company’s recent SEC filing.

In other recent news, Intelligent Bio Solutions Inc. reported a 50% growth in new customer accounts during its fiscal first quarter, ending September 30, 2025. The company added 33 new customer accounts, bringing the total to over 480 active accounts, with significant growth in the United Kingdom. Additionally, Intelligent Bio Solutions secured a contract with a major UK industrial service provider to implement its Intelligent Fingerprinting Drug Screening System, aiming to enhance workforce safety and compliance. The company is also preparing to initiate clinical studies for its drug screening system to strengthen its FDA 510(k) submission, anticipating clearance in the second half of 2026. Furthermore, Intelligent Bio Solutions announced an extension of the expiration date for its Series H-1 Common Stock Purchase Warrants from September 2025 to March 2026. These developments come as the FDA has requested a new 510(k) submission for the company’s drug screening system, following feedback that additional information is required. The company initially filed its 510(k) premarket notification in December 2024 and has been working to address the FDA’s requests.

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