Quarterly Activities Report
Melbourne, April 28, 2023 AEST (ABN Newswire) - Bluechiip Limited (
ASX:BCT) (1BL:FRA), a leader in the development of advanced sample management solutions for harsh environments, is pleased to release the company's Appendix 4C - Quarterly Cashflow report and update for the quarter ended 31 March 2023.
Corporate and Business updates for the quarter
- Recorded sales of $203k and cash receipts of $144k for the third quarter FY23;
- Receipt of $369k in orders including a substantial order from New York State Psychiatric Research Institute which has been partially delivered with $167k forward order on Bluechiip Enabled Consumables;
- Customer conversion and sales closure. 13 end-users have now ordered Bluechiip products, which will be used across 25 laboratories;
- Growing pipeline of new customer opportunities and continuing sales closure supported through its growing North American sales and marketing team;
- Launch of Bluechiip's STREAM(TM) Sample Manager '23 platform with enhanced features based on customer feedback;
- Actively executing development activities with FujiFilm Irvine Scientific under the licence and development agreement executed in October 2021;
- Continued discussions and negotiations with potential OEMs in pursuit of additional OEM partner agreements including delivery of concepts and prototypes to pharmaceutical, cell therapy and biobanking OEM customers; and
- Closing cash and cash equivalents of $323k as at 31 March 2023 with $400k of borrowings drawn down from a loan facility of $650k, and remainder $250k of borrowings drawn down subsequent to the end of Mar 23 quarter.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/12E51I80
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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