Exhibit 99.1

Pro Forma Balance Sheet

	October 31, 2023 (Unaudited)			September 30, 2023 (Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	2,283,403		$	186,401
Accounts receivable, net		189,279			567,510
Inventories, net		1,009,410			965,091
Research and development tax incentive receivable		551,261			559,588
Other current assets		303,322			413,305
Total current assets		4,336,675			2,691,895
Property and equipment, net		553,642			664,922
Operating lease right-of-use assets		464,071			471,532
Intangible assets, net		4,770,470			4,872,141
TOTAL ASSETS	$	10,124,858		$	8,700,490
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	2,078,866		$	3,628,797
Current portion of operating lease liabilities		222,652			227,414
Current portion of deferred grant income		2,299,900			2,240,929
Current employee benefit liabilities		352,445			406,964
Current portion of notes payable		352,389			341,834
Total current liabilities		5,306,252			6,845,938
Employee benefit liabilities, less current portion		27,251			27,732
Operating lease liabilities, less current portion		281,421			284,028
Notes payable, less current portion		269,305			306,234
Total liabilities		5,884,229			7,463,932
Commitments and contingencies
Shareholders’ equity:
Common stock, $0.01 par value, 100,000,000 shares authorized, 8,734,381, 2,330,399 shares issued and outstanding as of October 31, 2023 and September 30, 2023, respectively		87,344			23,304
Treasury stock, at cost, 1,386 shares as of October 31, 2023, and September 30, 2023, respectively		(14	)		(14	)
Series E preferred stock, $0.01 par value, 10,000,000 shares authorized, 1,556,962 and shares issued and outstanding as of October 31, 2023 and September 30, 2023 respectively		15,569			-
Additional paid-in capital		49,865,318			46,158,763
Accumulated deficit		(45,013,301	)		(44,232,777	)
Accumulated other comprehensive loss		(592,708	)		(593,512	)
Total consolidated Intelligent Bio Solutions Inc. equity		4,362,208			1,355,764
Non-controlling interest		(121,579	)		(119,206	)
Total shareholders’ equity		4,240,629			1,236,558
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	10,124,858		$	8,700,490