The Nanosynth share price (LON: NNN) continued its recent surge on Friday after a frothy update to the market about the potential for £17m from its India distribution deal for an anti-viral mask.
Continuing where Remote Monitored Systems left off, Nanosynth claimed that its distribution agreement with Vivek Kohli Enterprises OPC Private Ltd (VKE) could, we repeat could generate revenues of £17m according to VKE themselves.
As part of a market update today, NNN reiterated that it considers India as a ‘significant opportunity’ for its Pro Larva anti-viral mask.
It added that VKE will be taking delivery of 250,000 Pro Larva masks in the coming weeks and subsequent items from an initial order to follow thereafter.
And while there was a caveat placed on the £17m projection, there was also a caveat there’s no guarantee of ‘further significant orders’ as they would hope for:
“Following the recent launch of the product in India, the Company is looking to make delivery of 250,000 masks in the next few weeks, with the remainder of the initial order to follow. These masks will, in part, be distributed to interested parties in India, with whom VKE have been in discussions, to help establish the level of demand and timeframes for future orders. The Company is delighted with VKE’s support and enthusiasm for the Pro Larva mask and naturally hopes that further significant orders will follow although there can be no guarantee of such.”Update on distribution agreement in India – 27 August
The share price of NNN is currently at 1.13p and has nearly doubled in value in recent weeks.
The NNN share price began to gain traction once more after revealing the respective distribution agreement in June.