Australian (ASX) Stock Market Forum

BCT - Bluechiip Limited

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peter2 said:
I read about the reason for the sudden price drop in July20, Labcon terminating chip supply.
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Would be good for business to settle out of court on terms of 'continuation of business' if viable. Lock them in for the future.
Even if it went to litigation, it seems like Bluechip is within rights.
 
I didn't think you bought to early to any great extent Peter.
It's only natural that the boat goes down a bit as travellers board.
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Have revisited today.
Market seemed to like the mutually beneficial outcome (most notable is a new and continued business relationship) of litigation late June.

"Bluechiip and Labcon are happy to announce a mutually-beneficial resolution to their disputes as set forth in the litigation filed in the United States District Court for the Northern District of California captioned Bluechiip Limited v. Labcon, North America, et al., No. 3:20-cv-5205-RS." See the announcement for the terms.

Bluechiip currently in discussions with a US medical OEM that may end well.
Decent amount of cash, no borrowings.
Not held but the recent bump sparked my interest again.

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BCT at 2021 highs today after announcing that it has signed a two-year Licence and Development Agreement with California-based FUJIFILM Irvine Scientific, Inc. (FISI).

Finally, some good news for BCT after a disappointing 2021. Will management be able to capitalise on this deal to secure further similar agreements, or is it just another short term share price spike in BCT's two year downward trajectory?

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What are your thoughts now Greggles a couple of weeks after the spike? Its hard to tell if its a false start or a continuation forming. I took a small position over the last couple of days after it broke free of 5 thinking that it might be a clean break of the long term down trend.
 
Swervin Mervin said:
What are your thoughts now Greggles a couple of weeks after the spike? Its hard to tell if its a false start or a continuation forming. I took a small position over the last couple of days after it broke free of 5 thinking that it might be a clean break of the long term down trend.
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Difficult to say as I have no idea how to value BCT. I find any technology company difficult to wrap my head around, unless I understand the technology. I'd trade BCT, but wouldn't invest for the long term. It will be interesting to see the next set of financials. I'd like to see how much of an improvement there has been.
 
greggles said:
Difficult to say as I have no idea how to value BCT. I find any technology company difficult to wrap my head around, unless I understand the technology. I'd trade BCT, but wouldn't invest for the long term. It will be interesting to see the next set of financials. I'd like to see how much of an improvement there has been.
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Not really possible to value it with virtually no sales yet, cash burn $1mil last quarter, R&D tax refund of about $1 mil over the next 3 quarters or so and no indication of the value of the agreement with FISI.

I get the technology, and apparently there is good inventory of the chips and equipment. Getting it into the market at acceptable volumes is the challenge, like any other company starting with a good product and with approvals but still out there finding the customers. I have a feeling they will achieve a level of success, but how long it will take is the issue.

Technically, I have it as a possible buy if it breaks through 5.8 but the momentum will need to see a significant change for that to happen.
 
Swervin Mervin said:
Any thoughts on the progression? Might keep going now. Currently 6.2c
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History has shown the trend was down with a bottom now possibly established.

BCT Open Briefing (see PDF attached) dated today, 28 Jul 2022 reports that sales grew strongly in the Jun 4Q over the Mar 4Q with increased customers and repeat sales.

Along with the recently granted USA patent and 40K cash burn for the Jun 4Q with $2.7 in the bank, coupled with an already large stock inventory of their premium product (sold at a premium price too), that bottom could very well be the foundation to the upside.
 

Attachments

  • 02546576.pdf
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RE: TRADING HALT REQUEST

– BLUECHIIP LIMITED Pursuant to Listing Rule 17.1, Bluechiip Limited (ASX: BCT) (Company) hereby requests a trading halt effective pre-open on Friday, 7 June 2024.

The trading halt is requested pending an announcement to the market in connection with a capital raising program.

The trading halt is necessary to allow the capital raising to proceed in an orderly manner and to ensure that trading in the Company’s securities does not occur in an uninformed market.

It is expected that the trading halt will end when the company is in a position to provide an announcement to the market regarding the proposed capital raising.

The Company requests the trading halt until the release of the announcement, but no later than the commencement of normal trading on Wednesday, 12 June 2024 (noting that Monday, 10 June 2024 is a non-trading/business day due to the public holiday) unless the Company otherwise requests.

The Company is not aware of any reason why the trading halt should not be granted, or of any other information necessary to inform the market about the trading halt.

i do not hold this share ( but have in the past )

one of those companies that missed/ignored an obvious market while trying to look sexy and prestigious

i bought in January 2014 @ 6.3 cents

reduced in August 2014 @ 14.5 cents ( to lock out any chance of capital loss )

and exited in December 2017 @ 5.7 cents , when i realized they had fixated on a path i didn't like

... currently trading @ half a cent ( ish )

good luck any investors left in this
 
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