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LONDON (Alliance News) - Shares in IQ-AI Ltd were trading lower on Friday as the company said the US approval of its StoneChecker software was delayed due to the government shutdown.
The company, formerly known as Flying Brands, invests in technology and logistics assets.
StoneChecker is an innovative medical software designed to aid clinical decision making by providing information about a patient's kidney stone.
IQ-AI shares were trading 6.6% lower on Friday at 1.82 pence each.
IQ-AI said it has secured a medical information bulletin on its StoneChecker software from the UK's National Institute for Health & Care Excellence.
Meanwhile, the StoneChecker software's regulatory approval process continues in the US, as the recent and continuing threat of a US government shutdown has delayed the review of the product.
In addition, IQ-AI said it made the first sale of its imaging biometrics software to South Korea.
The investment company said its distributor, Korea Computer ISG, has sold a suite of imaging biometrics neuroradiology software to Haeundae Paik Hospital in Busan, South Korea, which will be installed in March.
Looking ahead, the company said it continues to seek business development relationships that will expose its products to a broader audience worldwide, with several marketing and distribution alliances under active consideration.