Corporate and Business highlights
- Progressed negotiations with potential OEMs including in the IVF market,
- Focused on building a direct to market portfolio of products for the Biobanking market especially in
- The Company is financially well positioned with cash and cash equivalents of
- Since the lawsuit filed against Labcon on
- The Company continues to receive financial support from Federal Government incentives through Cashflow Boost and JobKeeper Payment. Also benefited from the
- Company continues to progress delivery of product despite challenges with marketing progress and activities hampered by the impact of the global coronavirus (COVID-19) pandemic; and
- Company successfully completed its Implementation and received certification of ISO 9001 Quality Systems compliance.
Additional information
Sales during the
Cash outflow during June and
Outlook
The Company continues to respond to market conditions by progressively reviewing several measures implemented including:
- Executing on potential opportunities in the US including evaluation systems into customer sites;
- Progressing negotiations with potential OEMs including in the IVF market,
- Lodging the registration of 2019/2020 R&D Tax Incentive refund with anticipated receipt in excess of
- Focusing R&D activities on improving the quality, performance, and scalability of chips. This is expected to attain higher quality and yield with the aim of achieving economies of scale and lowering production costs as the Company approaches full volume production;
- Reallocating the technical sales team resources to R&D activities with the aim of further improving our products; for example, improving our multi vial readers functionality by addressing market feedback to meet current and potential OEM partners' requirements arising from the sales of developer kits in previous quarters. The developer kits enable potential OEM partners to integrate
- While the Company anticipates that it will continue with more R&D activities over the coming quarters, it intends to carefully manage its existing cash reserves in line with overall strategy;
- Reducing, temporarily, the scale of production in response to the slowdown in sales activity, while continuing to build stocks with the expectation that when markets normalise,
- Working on further patent applications to add to
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About
The unique tag is based on MEMS technology and contains no electronics. The tag can either be embedded or manufactured into a storage product, such as vials or bags. Easy identification, along with any associated information from the tag such as temperature can be detected by a reader, which can also sense the temperature of the tagged items. The traditional identification technologies have significant limitations. Whereas a barcode requires a visible tag or line-of-sight optical scan, bluechiip(R) technology does not. Unlike labels, barcodes and RFID, the bluechiip(R) technology can sense the temperature of each item a tag is attached to, or embedded in.
The bluechiip(R) technology has initial applications in the healthcare industry particularly those businesses which require cryogenic storage facilities (biobanks and biorepositories). bluechiip(R) offers the only technology that enables accurate and reliable tracking of products including stem cells, cord blood, and other biospecimens. In addition to functioning in extreme temperatures, the bluechiip(R) tracking solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.
The bluechiip(R) technology has other healthcare applications in pathology, clinical trials and forensics. Several other key markets outside of healthcare include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.
Further information is available at http://www.bluechiip.com
Contact:
Company Secretary
E: leem@nrlawyers.com.au
T: +61 (0) 3 9640 0400
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