Genetic Technologies intends to transition to capital light operations model

Genetic Technologies Limited has conducted an operations review and announces that it intends to transition to a capital light operations model – which is anticipated to result in an immediate material reduction in operating costs. This capital light operations model is intended to focus on sales growth and move the Company’s operations to an outsourced / collaborations approach. The company plans to: Transition to a capital light operating model; with lower cost operations, Continued focus on the Company’s core business of “EasyDNA” and “GeneType”, Working capital funded by short term $800,000 secured loan, Active Channel partners in the USA with geneType sales growth, EasyDNA sales of $7m and growing