Quarterly Report
Melbourne, July 28, 2020 AEST (ABN Newswire) - Bluechiip Limited (
ASX:BCT) today released its quarterly cash flow report for the quarter ended 30 June 2020.
- Subsequent to 30 June 2020 quarter, Bluechiip announced that it had received a notice of purported termination from Labcon North America (Labcon), a major customer, to the chip supply agreement. Bluechiip has responded by pursuing its rights and remedies as provided under the agreement (Please refer to the full announcement on 16 July 2020).
- The Company is financially well positioned with cash of $7.9m as at 30 June 2020, with no borrowings.
- The Company received financial support from Federal Government incentives through Cashflow Boost and JobKeeper Payment.
- The Company also received a refund of prior month's payroll tax made (pre-COVID-19) and benefited from the deferral of payroll tax payments for 6 months of Financial Year 2021.
- Following the decision made in the prior quarter, the Company continues with its resources reallocation to previously identified research and development (R&D) for more tax effective operation.
- Implementation of Quality Systems to meet ISO 9001 compliance is on track.
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/G526V2AF
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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