Mr. Craig Milne reports

INNOVOTECH REPORTS A LOSS FOR FISCAL 2023

Innovotech Inc. incurred loss of $157,582 on revenue of $1,182,632 in the year ended Dec. 31, 2023.

Revenues were up 5.3 per cent over 2022; however, the company increased expenditures in several categories resulting in the overall net loss. Research and development was up 73.3 per cent to $192,290 as the company continues to invest in expanding service offerings to clients as well as advancing the manufacturing processes and studying further physical properties of its patented InnovoSIL anti-microbial silver family of compounds. Increased G&A (general and administrative) expenses were partially driven by increased productive capacity as well as retaining the company's first full-time chief executive officer in approximately 10 years. The company increased its sales and marketing expenditures to $29,365 with renewed optimism to capture the value within the deep scientific expertise and trusted client relationships built over the past two decades of operations.

About Innovotech Inc.

Innovotech is a Canadian biotechnology company owning proprietary intellectual property, conducting contract research, and owning and providing proprietary devices for testing in multiple applications in microbiology.

We seek Safe Harbor.