BLT - Blis Technologies

Started by Left Field, Jul 14, 2022, 08:37 AM

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Left Field

Life in the old dog yet?

Rare revenue upgrade!

https://www.nzx.com/announcements/429533

Blis Technologies Limited (NZX:BLT) advises that the draft full year financial results for the 12 months to 31 March 2024 have exceeded previous guidance due to favourable timing of several major customer orders, increased sales across our B2B channels and an underspend in some planned R&D expenditure for this year.

Our latest guidance for the year ended 31 March 2024 is for revenue of $11.5m and EBITDA of $0.8m subject to completion of the annual financial audit.

This is an increase on the previous guidance provided on 23rd February 2024 of revenue of around $11.0m and EBITDA of breakeven to $0.3m.

Blis Technologies' annual report and financial statements are expected to be released in late May.
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Left Field

A long time ago I doubled my money in BLT and then moved on..... so for sentimental reasons it's nice to see BLT is now doing OK (however I wonder if its worth it being on the NZX?)

https://www.nzx.com/announcements/431666

In the year to 31 March 2024, Blis Technologies Ltd (Blis) achieved a return to profitability after two years of operating losses. The profit for the year was $0.6m, which was in line with guidance. This result was achieved on revenue of $11.5m, which was 12.6% higher than the previous year.

Revenue growth was achieved in our Business to Business (B2B) segment, with an 18.2% increase in ingredient sales and royalty income. Revenue in the Business to Consumer (B2C) area was affected by cost of living pressures on our customers and as a result revenue was consistent with the previous year. The revenue growth combined with a tight control over costs resulted in an improved trading performance. Net profit after tax for the year of $0.6m compares with a loss of $1.4m in the previous financial year.
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Left Field

Trading halt called..... not looking good... just as BLT were making progress...

Reasons for trading halt, including impact of event on fair orderly or transparent
markets: The company has become aware of a patent filing that potentially has a significant
impact on the company. The company needs time to assess those impacts including obtaining
legal advice.


https://api.nzx.com/public/announcement/438468/attachment/427641/438468-427641.pdf


"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

winner (n)

existential crisis Looming

Pierre

Quote from: Left Field on Sep 20, 2024, 10:36 AMTrading halt called..... not looking good... just as BLT were making progress...

Reasons for trading halt, including impact of event on fair orderly or transparent
markets: The company has become aware of a patent filing that potentially has a significant
impact on the company. The company needs time to assess those impacts including obtaining
legal advice.


https://api.nzx.com/public/announcement/438468/attachment/427641/438468-427641.pdf



It wouldn't be Blis if there wasn't a crisis looming just as the wheels look they're about to turn - again. Sigh!

Left Field

Market update on the competitive patent application.

BLT case looks strong......but progress will come at a cost.

https://www.nzx.com/announcements/438596

Blis Technologies Limited (BLIS) wishes to advise the market that it has become aware that a key customer has filed a patent for the BLIS K12™ and BLIS M18™ fermentation process in 3 key jurisdictions, being the USA, Europe and China.
 
 Also named on the patent registration as inventors are two employees of a European manufacturer which ferments probiotics. BLIS previously worked with this manufacturer to ferment the BLIS strains and disclosed its trade secrets to them as part of this process under a Non-Disclosure Agreement (NDA).
 
 The wording on the patent application contains wording and provisions which, in some instances, are identical or almost identical to information BLIS provided to the European manufacturer. BLIS is concerned by the release of its confidential information in the patent application and the potential impact that this may have on BLIS' ongoing operations.
 
 The release of BLIS' trade secrets and confidential information, as part of the patent application, has considerable financial implications for the company. A reduction in revenue is expected in the short term due to less sales of BLIS' probiotic ingredients. It is expected that this key customer will terminate its arrangement with BLIS as a result of its patent application.
 
 BLIS has sought legal advice in relation to this matter. BLIS will challenge the patent application and take action against the European manufacturer and the key customer for their alleged breaches. Additional costs will be incurred by BLIS as a result.
 On this basis the guidance provided by BLIS on 22 August 2024 is withdrawn.
 
 BLIS has cash reserves it can rely on whilst it works on alternative strategies to address these challenges.

 
"The difficulty lies not in new ideas... but in escaping from old ideas." (J M Keynes.)

Toddy

It's sad when these situations happen. What a major distraction to the business and more than likely financially material.

I wish them luck.

Untamed

#22
Boy, has this company has turned out to be a disaster. Just saw a post elsewhere that reminded me I used to hold a few.

I bought in, in Jan 2020 at $0.07
Sold Feb 2021 at $0.066

And today they are sitting at $0.014

Anyone still hold? Has there been any outcome on the patent situaton?