Careteq Limited (ASX: CTQ, “Careteq” or the “Group”) is pleased to announce that its cash position has been bolstered by the receipt of $947,123 from the Australian Taxation Office under the federal government’s Research and Development (R&D) Tax Incentive program for FY2022.
The tax refund relates to the R&D activities undertaken by Careteq in FY2022 expanding and scaling up its Assistive Living Technology and Medication Management solutions, which are gaining good traction with channel partners and customers in the United States, Australia and New Zealand. There is a current sales pipeline representing potential deals with a value of over $5 million.
Careteq reported a cash position of $3.7 million in the September quarter.
This announcement has been approved by the Board of Directors.
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