FluroTech Ltd. announced that it has decided to pause any further expenditures on development of its Pandemic and Emerging Disease Defense Platform (“PEDDP”), initially targeting COVID-19, until it is able to obtain further financing. While management continues to believe that its COVID-19 testing technology will be viable and needed, the Company will require additional financing to complete the technology through to regulatory approvals in order to become commercial. To that end, management continues to pursue financing options.

Readers are cautioned that, although the Company has achieved proof of concept prototype, the testing method and device is still in the pre-approval stage and accordingly the Company is not currently making any express or implied claims that its PEDDP can, or will be able to, accurately detect the COVID-19 virus.