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Printed Circuit Board’s (PCB’s) are called the “The Mother of Electronic Products” . They are the backbone of every electronic device.

PCB’s act as the foundation for electronic component integration. A printed circuit board automatically supports and electrically links electronic components by etching conductive paths, tracks, or signal traces from copper sheets laminated onto a non-conductive substrate. 

The global printed circuit boards market is expected to reach US$ 107.6 billion by 2030, with an annual growth rate of more than 4.1%. The growth of the printed circuit boards market is attributed to the increasing demand for electronics and IoT devices in various industries, such as consumer electronics, automotive, healthcare, and telecommunications.

Source: Rationalstat LLC 

November 13, 2023

Rigid PCB's - the most common type, with a solid, inflexible base material.


Flexible PCB's - made with a flexible base material, allowing them to be bent and flexed.


Rigid-Flexible PCB's - a combination of rigid and flexible materials, offering both stability and flexibility.


High-Density Interconnect (HDI) PCB's - designed for high-frequency applications, with dense, intricate traces and components.

 ZTEST completes assemblies involving each of these PCB types as well as other less common versions.

The newly activated equipment is expected to enhance the Company's ability to maintain, and continue to grow, its revenue base. This machinery offers a greater breadth of capabilities, and provides certain operational efficiencies, in comparison to the older equipment it supplanted in one of the Company's primary production lines. That older equipment remains in use in a lesser capacity.


PCBs provide a stable and reliable platform for electrical components, reducing the risk of short circuits and other failures.


PCBs enable complex electronic systems to be miniaturized, making them ideal for use in portable devices and other applications where space is limited.


PCBs are relatively inexpensive to produce, especially in large quantities, making them a cost-effective solution for many electronic applications.

Design flexibility

PCBs can be designed to meet specific requirements, including custom shapes, sizes, and component configurations.


The Institute for Printed Circuits is the trade association for the electronic interconnection industry. It provides industry standards for the assembly and protection of electronic equipment, as well as training, market research and public policy advocacy.

The organization got its start in 1957 as the Institute for Printed Circuits. It later changed its name to the Institute for Interconnecting and Packaging Electronic Circuits due to the expansion to packaging and electronic assemblies from bare boards. In 1999, it adopted the name IPC, with the tagline Association Connecting Electronics Industries.

IPC is a member-driven organization and has more than 3,000 member companies around the world. Its members include companies in all aspects of the global electronics industry, including designers, suppliers, board manufacturers, assembly companies and original equipment manufacturers.

In electronics manufacturing, printed circuit boards are separated into three classifications: 1, 2, and 3. The categories reflect the level of quality of each circuit board type, from lowest (Class 1 standards) to highest (Class 3 standards). This classification system was developed and is monitored by IPC under the IPC-6011 standard.

Perhaps the major difference between each class is the degree of inspection electronics assemblies must undergo and the quality standards to which they're subjected. Understanding the classes and their requirements can be helpful to OEMs who aren’t sure to which class their product should belong. Factors like customer requirements and cost can weigh heavily in deciding which class to pursue.

ZTEST adheres to IPC Level 2 & 3 manufacturing compliance, in accordance with customer requirements.

In early January 2024, the Company obtained pre-approval for an additional term loan enabling it to order new equipment costing US$463,525, plus delivery and installation costs. 


The machinery was ordered January 2024, was manufactured outside of Canada, arrived at our facility late May. Installation, set-up and training has been completed and the new machinery is now fully operational.


Following a review of the Company’s liquidity, cash flows, and capital under management it was determined that the term facility for which the Company was pre-approved was not required and that the Company would self-finance this equipment purchase.



ZTEST holds a passive investment in Conversance Inc. and does not participate in, or have any right to influence, the operations of Conversance.


ZTEST reduced the carrying value of its investment to $1 at June 30, 2020 while Conversance continues efforts to commercialize its technology.


ZTEST holds a 25.29% interest, with the potential to be diluted to 17.89% should holders of convertible promissory notes elect to convert. Provided ZTEST holds at least a 15% interest it retains the right to maintain its interests by participating in financing transactions completed by Conversance.