Appendix 4C - quarterly
Net operating cash outflow for the September 2019 quarter was $1,072,183, down from $1,282,907 in June 2019 quarter (the June quarter included the receipt of R&D Tax Incentive of $187k).
During the quarter Bluechiip successfully converted a proposal to a new OEM for the development of prototype consumables incorporating Bluechiip technology, including the delivery of a developer kit. The prototype consumables will enable our partner to test the market in their application. Bluechiip has now delivered 34 developer kits with a multitude of potential OEM partners.
Bluechiip has now progressed to full-scale manufacture of its Bluechiip Hand-Held, Multi-Vial and Matchbox readers, and importantly has completed tests in compliance with European market CE mark and United States FCC requirements. These are important to enable the full commercialisation of the Company's products in these important markets.
To view the Quarterly Report, please visit:
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