Bluechiip Limited (Bluechiip or the Company) (ASX:BCT) today released its quarterly cash flow report for the quarter ended 30 June 2019.

Business highlights

- A record quarter with net sales revenue of $517k (unaudited) from the delivery of readers, chips, software and services. The previous record net sales revenue, $272k, occurred in the March 2019 quarter.

- Total net sales for FY 2019 of $1.02 million (unaudited), an increase of 82% on the sales of $562k achieved in FY 2018.

- Scaling activities progressed well as the company continued to meet customer orders.

- Continued to pursue partnerships from the pipeline of developer kits and agreements in market.

- Received $187k from the Australian Government for the final portion of 2017/2018 Research & Development (R&D) Tax Incentive registration.

- Received $48k Export Marketing Development Grant (EMDG) from Austrade.

- Cash balance stands at $3.877m as at 30 June 2019 with no borrowings.

To view the report, please visit:
http://abnnewswire.net/lnk/0OHVM112


About Bluechiip Ltd

Bluechiip Ltd (ASX:BCT) has developed a wireless tracking solution for the healthcare and life science, security, defence and manufacturing industries which represents a generational change from current methods such as labels (hand-written and pre-printed), barcodes (linear and 2D) and microelectronic integrated circuit (IC)-based RFID (Radio Frequency Identification).

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

Andrew McLellan
Managing Director / CEO
Bluechiip Limited
Ph: +61-457-823-470
Email: andrew.mclellan@bluechiip.com

Media
Richard Allen
Ph: +61-3-9915-6341
Oxygen Financial PR
Email: richard@oxygenpr.com.au



Link: Appendix 4C - quarterly



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