December 2016 Quarterly Cash Flow Report
Melbourne, Jan 25, 2017 AEST (ABN Newswire) - Bluechiip Limited (
ASX:BCT) (Bluechiip or Company) today released its quarterly cash flow report for the period ended 31 December 2016.
- Sales revenue of starter kits to SIAD Europe, Netherlands Distributor, Danish University and repeat sales to the Chinese Centre for Disease, Control and Prevention (CCDC);
- Continued aggressively building our pipeline of OEM partners and distributors
Commentary
Net operating cash inflow for Dec 2016 quarter was $72,869, compared to cash outflow of $578,725 for the previous quarter. The improvement in the net operating cash inflow during the quarter is mainly attributable to the government grants and tax incentives received of $674,677.
During the quarter, we:
- Continued with the second phase of our license and supply agreement to incorporate Bluechiip's technology into our partner's Assisted Reproductive Technologies (ART) medical device for sale into In Vitro Fertilisation (IVF) clinics across the globe, recording invoices for delivery of technology support service and components;
- Recorded repeat sales of starter kits to the Chinese Centre for Disease, Control and Prevention (CCDC), an agency of the Chinese Ministry of Health based in Beijing, People Republic of China. The first sale to CCDC was recorded in prior quarter;
- Recorded sale of 2 starter kits to SIAD-CZ, a Prague based subsidiary of SIAD, a European biobank solution provider for the life sciences sector,. SIAD-CZ has also signed a distribution agreement to distribute Bluechiip's technology in Eastern Europe with exclusivity in Czech Republic, Slovakia, Poland and Hungary;
- Recorded sale of 2 starter kits to our Netherlands distributor GR Instruments BV;
- Continued expansion of Bluechiip's OEM pipeline in the USA, Europe and APAC markets and converted OEM partner opportunities;
- Received a $50,000 in funding from Innovation Connections to proceed with the second phase of development of its 'over-temperature' chip technology in partnership with the University of Melbourne; and
- Continued to work on registering further patents from the R&D activities from our existing 24 confirmed patents.
To view the full report, please visit:
http://abnnewswire.net/lnk/DG8V7RL4
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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