December 2018 Quarterly Report
Melbourne, Jan 30, 2019 AEST (ABN Newswire) - Bluechiip Limited (Bluechiip or the Company) (
ASX:BCT) today released its quarterly cash flow report for the period ended 31 December 2018.
ACTIVITIES REPORT FOR THE QUARTER ENDED 31 DECEMBER 2018
Highlights during the quarter
- Commenced monthly delivery of readers and chips to Labcon with sales revenue of $117k in the December quarter 2018 following Labcon's updated US$11.9m development and supply agreement in prior quarter.
- Scaling to meet customer orders, including to Labcon.
- Continued expansion of the pipeline with 32 developer kits and agreements in market.
- Fully repaid $0.6m R&D Advance Facility.
- Cash balance stands at $5.670m as at 31 December 2018 with no borrowings.
Business Progress Update
In December the first of our ongoing monthly deliveries under the revised agreement with Labcon North America's (Labcon) purchase orders was made. This was following the updated development and supply agreement on 29 August 2018 for a three-year term to supply chips, readers, software and engineering services worth US$11.9m ($15.9m).
Bluechiip has progressed transfer to production of the multi vial reader and hand-held reader and continued scaling the Bluechiip supply chain. With Labcon's Coldpoint Bluechiip Enabled Range moving into full production, deliveries are expected to accelerate over the coming 2 quarters.
Bluechiip continued to progress and pursue partnerships with 32 developer kits and agreements with potential partners in North America, Europe and Asia increasing our pipeline of opportunities.
To view the full report, please visit:
http://abnnewswire.net/lnk/5C09T6U2
About Bluechiip Limited
Bluechiip Ltd (ASX:BCT) understands that every sample - stem cells, blood, eggs, sperm and other biospecimens - is critical, so our objective is to manage each one with optimal quality in the most efficient way. Bluechiip's advanced management solution is the only one that provides sample temperature with ID in cryogenic environments to. Most importantly, this delivers confidence in every sample.
Bluechiip's unique patented technology is a MEMS-based wireless tracking solution that contains no electronics. It represents a generational change from current tracking methods such as labels (hand-written and pre-printed), barcodes (linear and 2D), and Radio Frequency Identification. Bluechiip tags are either embedded or manufactured into storage products such as vials or bags. Each product can be easily identified, and critical information such as sample temperature, is detected by readers and stored in the Bluechiip software. In addition to functioning in extreme temperatures, the Bluechiip(R) Advanced Sample management solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.
Bluechiip's technology has applications in healthcare, including in cryogenic storage facilities (biobanks and biorepositories), pathology, clinical trials and forensics. Other key markets include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.
Bluechiip: Delivering confidence in every sample.
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