BLT - Blis Technologies

[percy]

Sales growth has certainly slowed.
There are 1,107,653,565 shares on issue giving a market cap of just under $43.2 mil @ 3.9 cents share price.
Just does not add up with revenue of only $6.5 mil..

[simla]

"The company will report its full year annual audited financial results by Monday 26 May 2017."

I just noticed that there is no Monday 26 May. Perhaps they mean Friday 26 May.

[winner69]

"The company will report its full year annual audited financial results by Monday 26 May 2017."

I just noticed that there is no Monday 26 May. Perhaps they mean Friday 26 May.

Typical of a Mickey Mouse company?

[QOH]

Typical of a Mickey Mouse company?

Yes pretty bad mistake to make, very sloppy

[Leon]

Yes pretty bad mistake to make, very sloppy
Does the right hand know what the left hand is doing?

[simla]

Let's not sweat the small stuff. Everybody makes mistakes from time to time.

My concern is simple: how many years to a $5m profit with the trend lines below, let alone $10m or more? What is the plan, and what is being done to implement that plan?



Source : last few annual reports, plus update on 2017 just published.




(000s)20132014201520162017



Loss-1856-1541]-1373-816-24


Revenue11611322263156616547


Total Expenses30172863400464776571


Cost of goods sold5275859351762


Ergo other expenses?2490227830694715


I have checked the figures carefully, but check them yourself if relying on them.

[simla]

A plan that obviously should work is to take a very large pair of scissors to the expenses. That would instantly produce a respectable profit. The 2016 report talked of non-recurring costs that year, but that does not seem to have altered the outcome this year?

Another plan that should work is to change the objective. The reports constantly talk of growing revenue, and I would like them to start instead talking of growing profits. If you are aiming at growing revenue then of course you are going to spend money to achieve that aim. But if you are aiming at growing profits, the incentive would be the opposite.

[Leon]

A large pair of scissors to the expenses would be an excellent starting point.

[emearg]

A large pair of scissors to the expenses would be an excellent starting point.

Yeah Leon! Trim it down so they make a tiny profit and stop growing the revenue. Sticking with a tiny profit will be much better than growing Blis into a decent sized company with big profits. Maybe they can cut some staff? 20 odd people is clearly excessive! Trim the marketing budget? They spend far too much on that. And cut the support people out. Their customers and partners don't need support in launching new products. And cut the tiny budget in making their crappy website slightly less crappy. I'm with you pal no question! You should be in charge.

[winner69]

Yeah Leon! Trim it down so they make a tiny profit and stop growing the revenue. Sticking with a tiny profit will be much better than growing Blis into a decent sized company with big profits. Maybe they can cut some staff? 20 odd people is clearly excessive! Trim the marketing budget? They spend far too much on that. And cut the support people out. Their customers and partners don't need support in launching new products. And cut the tiny budget in making their crappy website slightly less crappy. I'm with you pal no question! You should be in charge.

Jeez mate - thats a depressing view, esp coming from a true believer

[Brain]

Jeez mate - thats a depressing view, esp coming from a true believer I think he has his tongue in his cheek Winner

[winner69]

I think he has his tongue in his cheek Winner

But emearg has always been so serious and sincere in his posts on BLT i find that hard to believe ......but then he may have just given up on his beloved

[simla]

Emearg, it's not about not investing. It's about balance. I assume you don't wish they had just spent an extra 10m last year for example.

But if growth is going to be slower, as now seems a possibility, then we need to be turning out profits. The patents don't last forever.

Look, the company had a 428k profit before tax locked in six months ago, and a 690k operating cash surplus. (Half year report, p6, p9). But now that's gone (though we haven't seen the cash flow yet). That would still be there if expenditure had been limited to income.

Consider the last two results expressed the old fashioned way:

FY 2016: (from 2016 Annual Report) http://blis.co.nz/media/wysiwyg/pdfs/BLIS_Annual_Report_2016.pdf



100%Sales Revenue5.661m2016 report, p12


-31%Cost of Goods Sold1.762m2016 report, p22


[tr]
69%"Gross Profit"3.899mNet of above, traditional definition of gross profit?


-83%Money the company spent4.715mTotal expenses, 2016 report p12, 6.477m less cost of goods sold above (ie. already included) 1.762m


-14%Net Loss-0.816m2016 report, p12



FY 2017: (from 2017 update 8 May 17) https://www.nzx.com/files/attachments/257705.pdf



100%Sales Revenue6.547m2017 update


-31%Cost of Goods Sold *2.049m* If at the same rate as 2016


[tr]
69%"Gross Profit"4.498mNet of above, traditional definition of gross profit?


-69%Money the company spent4.522mTotal expenses = loss (24k) + revenue (6547) 2017 update, less cost of goods sold above (ie. already included) 2.049m


-0.003%Net Loss-0.024m2017 update



As is plainly visible, there is a good underlying business turning out profits. But the company keeps outspending that profit - whatever the reasoning and sure that can be debated from various points of view.


2018 ... and all future years please (in my opinion)



100%Sales Revenue


-31%Cost of Goods Sold


69%Gross Profit


-54%Money the company can spend


+15%Net Profit



(And hopefully the percentage profit will rise over time as the need for investment reduces. But it should never drop below 15%.)


To do that: Lock the profits in cash in a separate bank account month by month. Never ever spend ahead now because you think good times are just around the corner. If you ain't got the cash, don't spend it. Make that 15% profit every single month of the year. Month after month. Year after year. And the only way to protect that profit is to only ever spend those profits on: cash reserves; dividends; investments that qualify as capital expenditure under audit guidelines.

If this is done, so that profits are turned out like clockwork, then the company would surely become more respected on the market with a respectable share price. When the company does business overseas there is surely no doubt that the prospects look up Blis's share and many doors must surely be quietly closed as they look at a share price of just a few cents. It is simply a good business investment to protect your company's share price surely.

As usual, just my personal views as a shareholder based on the public information available to me. I have checked the figures, but check them yourselves if relying on it. Feel free to disagree. I never claim to be right.

[Bobby_Fischer]

The patents don't last forever.

Until 2020 for Strep. Salivarius K12, from memory. Was wondering when someone would bring this up.

[simla]

Hey, Bobby, nice to hear from you with one of your elusive posts :)

[pierre]

Without going into all the details Simla, your analysis of the financials seems pretty fair to me and I agree the company's reputation is not looking particularly flash. In fact, there must be a few red faces among the management and board members right now.

I think the BLT team had better be working on preparing a very convincing story about what went awry in 2017 and what they are going to do about fixing it over the coming year.

They had us all excited six months ago about prospects for a maiden profit of $700k and now that has turned out to be a mirage. It's obvious the market has lost confidence (latest SP 3.3c) so if BLT is investing in marketing and other activities that will turn the ship around in the next 12 months then let's have some details of the plan to give us confidence they know what they are doing.

I attended last year's AGM in Dunedin, met Brian Watson and felt he was a good choice to follow on from Barry Richardson. Right now, I'm not so sure - the general lack of communication, the reversal of fortunes in such a short period, no news of what's happening in China or other markets, not even a correction of the (admittedly minor) reporting date error in their 8 May announcement - all leave me wondering.

Friday 26 (or perhaps Monday 29) May is an opportunity for redemption. I hope Brian and the directors don't waste it.

Bonne chance.
Pierre

[Bobby_Fischer]

Hi Simla. I don't hold any more, but I still keep half an eye on BLIS' progress. At one time (we're going back to 2003 now) I must have been BLIS' no. 1 fanboy on ST, but I gradually lost confidence after repeated promises from the company that situation cashflow positive was just round the corner. Well they finally made it, so maybe brighter times are ahead? It was around the time I was losing confidence, that you showed up and took over as the main poster on the thread. I finally sold out in disgust after the debacle that was the conversion of the preference shares back in 2012, when I believe holders of the ordinary shares got stiffed ... but no need to relitigate that. Do I now detect in your posts the beginnings of exasperation with the glacially slow progress BLIS appears to be making? I've moved on to greener pastures since booking significant losses on my BLIS holdings, and I'm much happier for it, but I do wish you and all current holders the best of luck. You never know, there may still be a pot of gold at the end of the BLIS rainbow somewhere?

[simla]

Yes, Bobby, 2012 was a very testing time for investors. After much thought I finally decided I could not fault the company's actions and backed Barry to dig some new foundations for the company despite the share price which indeed he did, presumably with much effort. For those of us who did that, the reward has already been reasonable and I have a reasonable profit to show for sticking with them. But not as much as I hoped for by now.

Exasperated now? Well, we do not know enough (or I don't anyway) to know whether the company is doing well in the circumstances. But I admit that if the next report is not clear and comprehensive that I am starting to think it might be time for me to vote for some fresh blood on the board. Undecided at this stage, but every election is open to the "it's time for a change" effect. It would certainly be a considerable change of stance for me after so many years of being such a staunchly loyal shareholder. But I'll wait and see what the report says.

[pierre]

Hi Simla. I don't hold any more, but I still keep half an eye on BLIS' progress. At one time (we're going back to 2003 now) I must have been BLIS' no. 1 fanboy on ST, but I gradually lost confidence after repeated promises from the company that situation cashflow positive was just round the corner. Well they finally made it, so maybe brighter times are ahead? It was around the time I was losing confidence, that you showed up and took over as the main poster on the thread. I finally sold out in disgust after the debacle that was the conversion of the preference shares back in 2012, when I believe holders of the ordinary shares got stiffed ... but no need to relitigate that. Do I now detect in your posts the beginnings of exasperation with the glacially slow progress BLIS appears to be making? I've moved on to greener pastures since booking significant losses on my BLIS holdings, and I'm much happier for it, but I do wish you and all current holders the best of luck. You never know, there may still be a pot of gold at the end of the BLIS rainbow somewhere?

Hi Bobby

I wont presume to speak for Simla - but my own feelings are most certainly in the exasperation category that you describe.

I've been a holder and supporter since 2005 and participated in all the capital raisings since that time. My average cost is very low and I'm currently showing an unrealized gain of 75% - not as good as when the SP was up around 6c and my gain was 300%+ - but moderately acceptable all the same.

It always seems with BLT that just when the light is appearing at the end of the tunnel it turns out to be another bloody train and not the daylight that we (holders) are hoping for. As I mentioned in my earlier post neither the new CEO's disappointing lack of communication, nor the company's sudden change of fortune - once again - fill me with much confidence right now.

I actually think glaciers are probably moving faster than BLT but then again maybe we will get some more cheering news on "Monday 26 May" (sic) and the pot of gold may move into sight in the coming year. I wont be taking any wagers on it though!

[simla]

I've moved on to greener pastures ... and I'm much happier for it
It may surprise people to learn that I actually do have other investments than BLT :)

[emearg]

It may surprise people to learn that I actually do have other investments than BLT :)

Wellington Drive being one? Me too...took a beating on them investing a decade ago but they do seem to be running well now with the new guy. I have lost plenty though. Never mind...learn...and be greatful of having a decent job to make up for my youthful enthusiam :)

[emearg]

My sarcastic message last night sure has made this forum more interesting so that is one positive. My point is that after a decade holding Blis I don't want them to back off now and settle for mediocrity. Go crazy and hopefully you succeed. You will make me rich if you do. If not life will continue. We don't know enough to know what is happening, and some fluffy words in the report won't tell us anything. I learnt that from Ross Green from Wellington Drive. Bull sheet artist numero uno. He should work at Rakon. Numbers tell the truth. Right now tracking poorly. One off? Will need to wait and see. Cheers

[RGR367]

Just got an email saying they've launched their new website today! And international customers can pay with their local currency. https://blis.co.nz/?mc_cid=a5d8c8fd2c&mc_eid=cdfcadbdee

[huxley]

Looks good, but it seems a bit buggy on the iPhone... a few 404 pages... especially on the "buy now" link!

[suse]

It would have been good if they had let someone out of the firm and their marketing co have a play around on the website and find it's glitches and what would make it work better. Nonetheless, at least they are doing something.

[kerryo]

Looks good, but it seems a bit buggy on the iPhone... a few 404 pages... especially on the "buy now" link!

All fixed now ... working perfectly on my iphone. Fast too. :)

[simla]

Yes, it looks very cohesive and sensible, like the website of a company that has some polish. A lot of 404s in the investor centre too presently.

Obviously in light of the 2017 result, I'm wondering at what cost was this stuff done. Website. Toothguard and its video. Repackaging of existing products. Lots of staff. That makes sense if it definitely will lead to strong growth, but otherwise could be strung out over time. Balance etc.

I continue to look forward to the next report.

[emearg]

I'm impressed that it is 'responsive' ( https://en.wikipedia.org/wiki/Responsive_web_design ). Anyone contacted them pointing out the broken links?

[simla]

Bevan Wallace has resigned as director. No explanation was offered in the announcement. He certainly has laboured long and hard for the company and that effort is appreciated. Thank you for all you have done. https://www.nzx.com/companies/BLT/announcements/301390

However, the data points remain puzzling. Many will have spotted this clip "Blis holders reduce stakes " http://www.stuff.co.nz/business/92326818/blis-holders-reduce-stakes

And then look at the new management team at Blis. The chairman has been there a long time, the deputy chair a fair time, and the rest of the team joined in 2014, 2014, 2012, 2016, 2011, 2015, 2016, 2016. https://blis.co.nz/investor-centre/corporate-governance/

The times they are a changing at Blis whichever way you look at it.

[simla]

Let's hope the next report is heartening. The share price looks ready to slip into the 2 cent range otherwise to judge by the market bids this morning.

Well, the 1.5m drop in the February update https://www.nzx.com/companies/BLT/announcements/297031 stressed that underlying demand remained the same, and presumably they expect growth on last year's target as well, so the potential has to be there for good news if they make a forecast. Of course, we would also want some confidence that the costs would not grow to meet that.

Interesting times presently. No trend lines to fall back on that I can see.

[Bilbo]

However, the data points remain puzzling. Many will have spotted this clip "Blis holders reduce stakes " http://www.stuff.co.nz/business/92326818/blis-holders-reduce-stakes


Love the last line of that article "The shares are trading at 41 cents each compared with a high in August 2016 of 59c." If only :)

[Leftfield]

Thanks for posting the article Simla.

In terms of shareholders, the largest shareholder remains Leveraged Equities a company associated withForsyth Barr principals, Sir Eion Edgar and Neil Paviour- Smith....... no fools those guys.

[simla]

Love the last line of that article "The shares are trading at 41 cents each compared with a high in August 2016 of 59c." If only :)

Yes, the price has been almost a continuous downhill slope since July last year.

But .. are people sure of the choice? Say the 8m revenue estimate for last year remains the base for the coming year, and add in 25% expected growth. Then they could be (maybe) going to forecast revenue of 10m this year. If they then declared an intention to run a 15% profit on gross, that would be 1.5m, or 0.13 cents per share (1.5m/1107m). At a PE of 45, that would be 45 * .13 = 5.85 cent share price, or considerably more than trading today. (Check the maths yourself obviously.) And presumably with reasonable prospects for the future then.

Or maybe they will downgrade on the forecast in light of last year's experience.

It's all highly speculative. But nevertheless the market price appears to be entirely based on sentiment presently rather than maths. If the company were to surprise us by releasing a report designed to reassure the market, then the result could be interesting. And if not, then who knows.

All very fluid presently in my opinion. I have no idea what to expect.

[Golfer01]

Man, I've owned shares in BLT for 15 years and every day I hope that there's going to be exciting press release detailing how they've signed up some multi million dollar deal with some large global company. Alias, not to this point. Generally it's 1 step forward and 1.5 steps back....Year in, year out...
I believe in the science and the products but the marketing and therefore sales just doesn't seem to gather enough momentum.... Is it because it's pushed as a preventive or post illness "supplement". Myself, I do not use a "product" to stop me getting ill or one, once I've got better...I would guess that a great deal of the population has a similar outlook???? Yes, I know they have the lozengers which help a sore throat but I think they need to incorporate or develop a product which is actually used to cure or improve health at the time of the illness...
Take their fresh breath kit.. Bad breath is a problem and I'm sure there are days when my breath isn't as fresh as it could be but do I know that.... Sure, family or friends might tell you but what would you do about..... Buy some gum or mints and hope it goes away?? Additionally there appears to be some time and energy involved in using the kit to get the "maximum" benefit/results...
People want results, cures and with convenience. What about mints or gum which promote instant fresh breath (other products do that) but incorporates properties which prevent bad breath occurring and agreesively market that point of difference???
What about putting the science into infant formula, milk powder, honey or other dairy products??? Get involved with Fonterra or A2....
Perhaps pie in the sky stuff but I believe they need to change their approach from preventive or post to actual/cure/getting better...
Regards a frustrated shareholder....

[simla]

I am fairly sure that the company could turn the share price around by committing to keeping costs in ratio to the income and never spending ahead of cashflow, thus locking in future profits. Better yet would be to commit to the actual ratio they would constantly aim at (eg 15% profit on gross, which seems to me to be eminently sensible as a target) so that the market had some certainty of what was coming. This would remove (most of) the speculative element in owning BLT shares and we might finally see some interest from non-present-holders who undoubtedly look at the price history of BLT with trepidation.

[GR8DAY]

Hi Simla and thanks for keeping the interest up.....your posts are invaluable in that regard and you clearly do more research than most of us. Disappointing to see the SP at these old levels again for sure but Im not surprised given the change in sentiment over the last few months. Pity. Anyway Im seeing it as a buying opportunity as I really do believe this will be short lived.........too much work is going on behind the scenes and too much money going into rebuilding/rebranding for results then sentiment not to turn soon.......IMHO.

[RGR367]

Almost halfway to my 3 year holding plan and the price now is just slightly a tad higher when I started buying. So I am not disillusioned yet. That "gut feel" is still strong on this one :cool:

[simla]

Anyway Im seeing it as a buying opportunity as I really do believe this will be short lived.
Well, certainly it is hard to see prospects not improving over time. The problem is that we've said that for a few years now yet costs keep eating the profits. It would so great for the company to make some sort of commitment on that front.

One difficulty with the staff all being so recent is that it is very hard for them to appreciate just how very very long shareholders have held in here. I would compare it to checkout staff looking at older people irritatedly for being able to afford good food. They simply cannot appreciate what a very long time several decades is and how much effort it is to save up over those long decades - decades is just a word for them and it just means "slightly longer then it was for me" when you haven't actually been there and done that. I've been in this for ten years and that is ten times as long as people who joined in 2016. Ten times is a very long time ... but again, just words if you haven't been there.

[patrick]

Well, certainly it is hard to see prospects not improving over time. The problem is that we've said that for a few years now yet costs keep eating the profits. It would so great for the company to make some sort of commitment on that front.

One difficulty with the staff all being so recent is that it is very hard for them to appreciate just how very very long shareholders have held in here. I would compare it to checkout staff looking at older people irritatedly for being able to afford good food. They simply cannot appreciate what a very long time several decades is and how much effort it is to save up over those long decades - decades is just a word for them and it just means "slightly longer then it was for me" when you haven't actually been there and done that. I've been in this for ten years and that is ten times as long as people who joined in 2016. Ten times is a very long time ... but again, just words if you haven't been there.

Not many sleeps!

[simla]

Not many sleeps!

Apparently a few more yet. No report on Friday 26 May.

" Monday 26 May 2017" seems to be Monday 29 May. The date was ambiguous, but the company could have corrected it or met the earlier interpretation.

[artemis]

So funding to reduce rheumatic fever has been halved in the Budget with focus now being on Auckland, probably South Auckland. as Maori and Pasifika are disproportionately affected. So the government has realised that 'if we always do what we've always done ...'. Maybe time to spend the millions of dollars on BLIS, as was done in Whakatane schools with excellent results.

[emearg]

So funding to reduce rheumatic fever has been halved in the Budget with focus now being on Auckland, probably South Auckland. as Maori and Pasifika are disproportionately affected. So the government has realised that 'if we always do what we've always done ...'. Maybe time to spend the millions of dollars on BLIS, as was done in Whakatane schools with excellent results.

Where did you read it has been halved? I can't find that via The Google.

[artemis]

Where did you read it has been halved? I can't find that via The Google.

Funding for rheumatic fever prevention halved in Budget despite failure to cut hospitalisations

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11864132

[emearg]

Thank you.

[simla]

Blis annual report 2017 now out. https://www.nzx.com/files/attachments/259053.pdf

There was more detail than in the past. I am grateful for that and somewhat relieved. Still very little information on end-user activity in actual markets. For instance, the US was barely mentioned (although they seem to going for GRAS on M18 now).

Significant bits that I saw:


"early trial activity in China as one of our prospective customers prepares for launch activity in FY2018. (p4)
"The Company recorded positive net cash flow from operating activities of $244k (p4)
"In FY2017, we focused on establishing the fundamentals for sustainable growth. Considerable effort has been applied to internal processes to support growth and building capability for the future. (p5)
"Dermatology (future focus) (p5)

Recognise the potential of "BLIS®-containing functional food solutions" (p5)
Recognise the potential of "BLIS®-containing pet applications and animal health solutions" (p5)
"BLIS EliteProTM (high dose BLIS K12® targeted at athletes) launched, and ongoing collaboration with elite sports organisations (p6) (Missed that one Emearg?)

"New [NZ] distributor relationships with Pacific Health targeting health practitioners and Henry Schein NZ for the professional dental channel (p6)
"Early-stage evaluation of new food formats for one probiotic strain (p6)
"Solid foundations for the future have been established and we have our cost base clearly defined for future sustainable profitable growth. With prudent investment, we believe there is a good balance between existing business support and pipeline development to realise the potential of our IP. (p7)
"In the medium term, we expect meaningful sales from China, and from expanded market approvals in Australia and new
customer relationships globally. (p7)
"The Company is investing in the evaluation of new candidate strains in its pipeline. One strain (BLIS Q24 TM for skin applications) has progressed to the point of formulation trials. (p7)
"Further advances through an early-stage clinical trial of a new strain (BLIS Q24TM) targeting skin applications (p6)
"We expect that the new probiotic strain targeting skin applications will launch in the 2019 financial year. (p7)
Website development cost $114k (p31)
No new issue mentioned, working capital of 2.2m considered sufficient. (amended: p4 possible issue for more growth. Thanks, underworld.)
No estimate provided for this year's revenue or profit.



The announcment, https://www.nzx.com/companies/BLT/announcements/301839

"During this financial year, the company will continue to invest in growth initiatives, delivering increased turnover and a profit.
"It is important to note that management and the board have undertaken a review of within market demand internationally. This review is providing us with confidence that there remains strong evidence of continued growth.

[simla]

Somewhat more confident than last year, and the extra detail allows us to be somewhat more confident as well. Almost impossible to judge what to expect over what time scale though.

[simla]

An update on the figures I put up recently adding the 2017 report. I added a few rows. Sourced from the last few annual reports available here https://blis.co.nz/investor-centre/annual-and-half-year-financial-reports/



(000s)20132014201520162017



Revenue11611322263156616547


Loss-1856-1541]-1373-816-24


Net cash flow (ex finance)-1110-1324-1516-919-71



Total Op'ing Expenses29592863400464776571


- Cost of goods sold5275859351762*1688* New name but seems to be the same figures


= Other expenses24322278306947154883



Capital expenses467348421408315From cash flow report


Employee Benefits697878120316712024


Shareholder equity3490* 6176480339874017* Included share issue


Working capital909* 3753251919272253* Included share issue



I have checked the figures carefully, but check them yourself if relying on them. As usual, just my viewpoint, feel free to dispute it.

[Leftfield]

Thanks Simla.....I haven't had too much time to analyse the results so appreciate your homework. I agree things are beginning to look more positive. Nice to see the new managers making 'progress' and some interesting new product and market extensions. How all this impacts on next FY18 financials is going to be v interesting.

Disc; I've lowered my BLT exposure 25%, but retain 75% (happily well in the green zone.)

[simla]

The biggest change for me was a sense that the company was getting on top of more of the detail. Last year's report left me with somewhat doubt that the company was really on top of everything (whether that was a fair reading or not we'll never know.) This report still didn't ooze confidence, but a continuation of this trend might be more reassuring next year? It is still all very difficult to read.

Only slight mention of costs and profit, that might have been a bold assertion that expenditure wasn't going to stop any time soon, but on the other hand might also have been a concession that balance with actual profit was also required. It was all such a very slight discussion (for a topic that surely leaps off the page from the last results) that it was impossible to be sure what was meant. Or as I read it anyway.

More reassuring than last year, but still difficult to know what to make of it.

[simla]

Share price slipping presently. I suppose people did notice "in China as one of our prospective customers prepares for launch activity in FY2018. " This IS FY2018. Still, China is always hard to predict.

[underworld]

I hope everyone noticed this in the report......

"The Company is investing in upgrading plant to a fully accredited “Good Manufacturing Practice” (GMP) status, regulatory approvals and new product launches. Depending on progress, the Company may consider options to support its growth and may seek additional capital by way of a placement and/or share plan.

"

[simla]

Oops, missed that. Sorry.

Probably also could have mentioned: "We are moving our focus towards being a supplier of BLIS®-branded finished goods (including prominent co-branding) to help ensure that Blis Technologies is recognized as the source; this is a means of future-proofing the business by developing a closer relationship with customers and consumers." p5. Is that a reference to surviving patent loss at some point maybe?

[Ghost Monkey]

Revenue and loss were signaled a couple months ago so in that respect nothing too 'out of the blue' here. Nothing that's going to light a fire under the SP.

Revenue didn't grow as fast as the previous year and Australasia sales are down a bit. But other regions seem to be doing well. I do like the sound of their research/product pipeline, that's the big positive for me. They've proven they've got the ability to develop and bring a product to market (though its taken awhile!) so I don't see why they can't continue to grow in this respect. They've got the base to work from now. That and Asia potential are what really interest me. Hopefully all these newly appointed directors and such can push this company forward. For myself, at least another year to go to see what results they can achieve before I'm confident with the future.

Happy to hold at this stage but no reason to increase/decrease my position.....yet.

[simla]

Well, the company is quite open that it spent a whole lot of money setting up a base for expansion. "In FY2017, we focused on establishing the fundamentals for sustainable growth".

The new guy has come in, spent a whole lot of money changing the strategy around and the board backed that. The question for shareholders is whether that will pay off. The company hasn't actually told us (that I have seen) what they expect the payoff will be. They haven't said they intend to now turn to pushing profits, or that they have an achievable plan to push growth. Since neither of those happened much this year, then we shareholders can't know what to think - as far as I can see anyway.

So, it was a more reassuring report. But I can't see how we can feel a whole lot different about prospects without waiting another year maybe to see what the company does next. Once again the report did not seem to mention the future much.

Just my view as a shareholder, as always. Feel free to disagree.

[simla]

Happy to hold at this stage but no reason to increase/decrease my position.....yet.

You probably said that better than me. I agree.

[simla]

But I admit that if the next report is not clear and comprehensive that I am starting to think it might be time for me to vote for some fresh blood on the board.

Well, I might have hoped for more detail, but that was much clearer than last year's, which I felt was more generalised. So that's off the table for me happily.

[simla]

Disc; I've lowered my BLT exposure 25%, but retain 75% (happily well in the green zone.)
Yes, I sold enough to show a small (tiny!) cash profit so that I could stop being so concerned about the future outcome. If Blis lives up to it's potential then a year's growth should cover us both on that front, and if not then less to gnash teeth about!

[simla]

Well, it doesn't look like the market is going to react to that report up or down. Next news AGM presumably.

[Leftfield]

Yes, I sold enough to show a small (tiny!) cash profit so that I could stop being so concerned about the future outcome. If Blis lives up to it's potential then a year's growth should cover us both on that front, and if not then less to gnash teeth about!

Let's hope we are both right. We may also be well positioned for a possible cap raise!! :scared:

Looks like the new management is taking longer to make progress than I hoped, but they seem to be making the right moves. My key problem with BLT is that I picked it for the 2017 stock picking comp! Going to have to wait longer I suspect.

[simla]

Let's hope we are both right. We may also be well positioned for a possible cap raise!! :scared:
Yes, it has been difficult watching the company spend about $14m on/during the new plan (expenses + capital expenses 2016 + 2017 as above chart) without any assurances that they do expect to recoup that in future by creating additional future profits of $14m (or is it $20m, before tax ~= $14m after tax). Obviously you could argue about how much of that counts, maybe even less than half that, but the principle remains the same. And now a capital raising that will require even more future profits to recoup. Yet the company is making no mention of how much profit it is in fact hoping to generate in future. I'm sure they have done the maths themselves, but it would be nice to be aware of it.

[NeverQuestion]

https://www.nbr.co.nz/article/blis-technologies-says-customer-changes-still-impacting-orders-b-203511

[simla]

An upbeat article from the NBR.

Certainly I feel happier after reading that report than before. And I very much appreciate the work it must have taken.

Essentially they seem to be gearing up to be a major company. Unfortunately there didn't seem to be enough discussion of the future for us shareholders to be able to assess the likelihood of that happening.

But presumably they think it will happen, so we can only wait and see how the next year or so plays out for progress. If they are right in their expectations then the future would seem to be promising.

[emearg]

"BLIS EliteProTM (high dose BLIS K12® targeted at athletes) launched, and ongoing collaboration with elite sports organisations (p6) (Missed that one Emearg?)

A google search finds nothing so yes it was easy to miss :p

[emearg]

I remember discussing Q24 in 2007. So I won't hold my breath. Will be happy to see it launch though.

PS my breath is fab thanks to K12 and M18. It would be nice to try Q24 before I am far too old to get even an occasional zit. COME ON Blis!!

[emearg]

Same with China. What a customer is planning and what happens are usually very different. Won't hold my breath on that either.

[emearg]

Remember Nekta? They were going to launch a juice with K12 in it. Four years ago? I urged caution before factoring it in to the equation. Seems warranted. Until products are sitting on shelf with a price tag I don't believe any of it.

They did launch their own range of lozenges though. Mainly targeted at the Brits.

[simla]

Happy to hold at this stage but no reason to increase/decrease my position.....yet.
Yes, the market seems to be of the same view with very little action since the release of the report.

Nevertheless, it seems likely that the share price has probably bottomed and will only go up from here. Maybe it will drift a little lower in the short term.

The report did not discuss this year's results, but the announcement said "During this financial year, the company will continue to invest in growth initiatives, delivering increased turnover and a profit."

I very much doubt they intend to get caught out making another loss now.

[simla]

The report had a lot more detail than last year's. I found 17 things to bullet points in my post on this year's report, but last year I just quoted a couple of non-specific items. A considerable difference.

Everyone in my household owns Blis shares and we are all agreed that this report gave us a way better idea of what the company is up to than anything in the last couple of years. That is a major relief and it is great to hear them express a sense of confidence in the future and have it associated with quite a bit of detail to support that confidence.

I still don't know if this company has a great future in front of it, but I am now at least confident it doesn't have a bad future. Profits seem likely to roll now and so the company is a viable and real investment. Or at least it probably will be some time this year!

Just my views as always. Feel free to disagree.

[emearg]

I very much doubt they intend to get caught out making another loss now.

I very much doubt they intended to get caught making a loss last year either.

[simla]

You have a point. But the school of hard knocks is an excellent school. They just had a tutorial on the fickleness of markets, that it is no customer's responsibility to provide you with regular income. The key to profits is to lock them in when you get them.

[emearg]

You have a point. But the school of hard knocks is an excellent school. They just had a tutorial on the fickleness of markets, that it is no customer's responsibility to provide you with regular income. The key to profits is to lock them in when you get them.

I reckon they have been held back a few years. Busy doing cabbage maths perhaps?

But yes, quite right.

I'm not in panic mode. Been riding this one long enough to know how things work. Slowly and without any certainty. Nothing to see here...

[EJK]

I didn't get any alerts or articles regarding to the drop this afternoon (-10.34% as of now).

Anyobody knows what's going on? What's the news?

[Leftfield]

I didn't get any alerts or articles regarding to the drop this afternoon (-10.34% as of now).

Anyobody knows what's going on? What's the news?

Check the depth. Approx 18,000 shares traded at this price, so IMHO hardly a major sell-off. That said BLT is trending down and has been for some time. Until there is good news this is a risky stock.

[simla]

Markets go down when there is a lack of buyers.

This company just turned in yet another loss. It gave no guidance at all as to future revenues or profits (other than an intention to have a profit this year), said "meaningful sales" in China are still in the "medium term" and projected nothing elsewhere that I saw, made no apology or explanation for the doubling of expenses in the last couple of years. It did mention launching "skin applications" next year but gave absolutely no detail on what or whether we should be excited or not. It still won't mention any disappointments (what happened to the rheumatic fever trial for instance?)

The most upbeat statement made seems to have been "With prudent investment, we believe there is a good balance between existing business support and pipeline development to realise the potential of our IP." Not exactly talking the market up.

By comparison:

WDT : "we had got our heads around achieving $50m in revenue, and over the next 5 years we could be well on our way to $100m."
ATM: "We’re on an extraordinary growth and transformational journey"
XRO: "Founder-led urgency, vision and passion"
MFT: "Larger multi‐national customers are increasingly becoming a part of our supply chain initiatives"
SPK: "We’re confident we can collectively rise to the challenge and continue to deliver for our customers, for you, our shareholders, and for New Zealand."

So, would you be buying BLT presently? Well, we know the answer because nobody much is. What we do not know is whether the company is not cheering us up because they have little to tell us or whether they are just really reticent to tell us stuff. And if that is just because one lawyer is telling them to play safe then I would urge them to get a second opinion, please!

I must say that I supported the company through many very tough years. I certainly did not anticipate that when the break even point finally arrived that it would become tough for shareholders simply because the company went mum.

[EJK]

Markets go down when there is a lack of buyers.

This company just turned in yet another loss. It gave no guidance at all as to future revenues or profits (other than an intention to have a profit this year), said "meaningful sales" in China are still in the "medium term" and projected nothing elsewhere that I saw, made no apology or explanation for the doubling of expenses in the last couple of years. It did mention launching "skin applications" next year but gave absolutely no detail on what or whether we should be excited or not. It still won't mention any disappointments (what happened to the rheumatic fever trial for instance?)

The most upbeat statement made seems to have been "With prudent investment, we believe there is a good balance between existing business support and pipeline development to realise the potential of our IP." Not exactly talking the market up.

By comparison:

WDT : "we had got our heads around achieving $50m in revenue, and over the next 5 years we could be well on our way to $100m."
ATM: "We’re on an extraordinary growth and transformational journey"
XRO: "Founder-led urgency, vision and passion"
MFT: "Larger multi‐national customers are increasingly becoming a part of our supply chain initiatives"
SPK: "We’re confident we can collectively rise to the challenge and continue to deliver for our customers, for you, our shareholders, and for New Zealand."

So, would you be buying BLT presently? Well, we know the answer because nobody much is. What we do not know is whether the company is not cheering us up because they have little to tell us or whether they are just really reticent to tell us stuff. And if that is just because one lawyer is telling them to play safe then I would urge them to get a second opinion, please!

I must say that I supported the company through many very tough years. I certainly did not anticipate that when the break even point finally arrived that it would become tough for shareholders simply because the company went mum.

Thanks for that. Kinda sounds like another Wynyard :-/

[simla]

No, I wouldn't compare it to WYN. Here was the WYN cash flow. https://www.nbr.co.nz/sites/default/files/2016-10-25%20at%2011.56%20AM_2.png

Whereas BLT ran a positive operating cash flow last year.

It seems to me that the problem is simply the lack of news. What are we expecting in the future? If you have actual quotes or data, then by all means post them!

[THEONE]

Hi Simla, I am still here reading your insightful posts thanks. I am back as shareholder now. With a Market Cap of about 30 million and lots of tax losses to use up. Surely they can make a few million profit within a few years. They almost made $700k last year. Bacteria is cheap to make. With meaningful sales in China this year. Not much as really changed since last year when shareprice was 6 cents.. If the shareprice was say 5 cents people wouldnt be so worried. But with the share price being less than 3 cents its all doom and gloom. Reminds me of the AIRNZ thread... Looks like there has been at least one desperate seller with a few million, which has depressed share price. The report was ok, seems like they are making good progress. Time will tell. Roger(AIRNZ) I know this is probably not your kind of share.. But would love your thorough analysis. Disclosure:This
is my opinion only, not financial advice. Do your own research. I have been known to be wrong often

[simla]

Hi, TheOne. Not-so-frequent voices are starting to gather here a bit now, so does that mean sentiment is turning? No knowing. Here's why it could matter though.


Required After-tax Profit for share price ?PE = 15PE = 45

Price = 2 cents1.48m0.49m
Price = 5 cents3.69m1.23m
Price = 10 cents7.38m2.46m
Price = 20 cents14.76m4.92m

* Check the maths yourself

Interesting, no? The first thing that stands out is how sensitive it is to the PE. And obviously the PE is sensitive to whether the market believes this company is going somewhere big. And that probably depends on either a string of great results or good communication from the company. Or the opposite.

Last year they forecast 0.7m profit. Okay, they did not get it but presumably this year they are aiming higher.

So if they announced in a few months/weeks that they are on track for a profit of say 1.35m (halfway between the 1.48m and the 1.23m figures above) then what are the shares worth? Well, if the market rated Blis as going somewhere big, then the shares are worth about 5 cents at a PE of 45. But if the market continues to doubt the future, then the shares are worth less than 2 cents with a PE of 15. I assume no tax payable presently due to old losses.

So is this like ATM when it was selling for a few cents and with a big future that was there if you looked? Or is this a company with only moderate growth prospects ahead that is already over priced even at 2 cents? Very interesting question and, no, I have no idea.

I've checked it but could be wrong so do your own maths. Obviously I'm a shareholder.

[RGR367]

Took 10 days for my order using their old website (no track and no trace) then to get delivered.
Took 2 days for my order the other day to arrive using their new website. Didn't even get to use or need to track and trace it.
So that's a hell of a lot of improvement.

[simla]

To be fair, Middle Earth is much easier to get to since Frodo and Gandalf defeated Sauron.

[gmatt]

THE BLIS MID-YEAR SALE IS ON!
We are having a sale for one week only on ThroatGuard and ToddlerProtect as we make room for new products.

We have cut prices by up to 50% for a limited time.

Just received above email from Blis ...... looks like new products are on their way!

[fungus pudding]

THE BLIS MID-YEAR SALE IS ON!
We are having a sale for one week only on ThroatGuard and ToddlerProtect as we make room for new products.

We have cut prices by up to 50% for a limited time.

Just received above email from Blis ...... looks like new products are on their way!




'Make room for more products' - translation 'let's see if we can get some cash in.'

[winner69]

'Make room for more products' - translation 'let's see if we can get some cash in.'

.......Or could be 'jeez that lot is getting close to its use by date'

[Leftfield]

.......Or could be 'jeez that lot is getting close to its use by date'


Or " jeez, sales are slow, stocks are high......."

[patrick]

One product line sold out before this sale!

[artemis]

Final reminder of end of sale came through today. With a note saying new range of products will be unveiled by the end of this week.

[artemis]

Two rebranded products and one new product.

DailyDefence and DailyDefence Junior replace ThroatGuard and ToddlerProtect.

This one is new and looks useful.

ThroatGuard PRO. This is a high dose BLIS K12 lozenge for the times where you really need extra strength probiotic protection for your throat. ThroatGuard PRO contains 2.5bn cfu of BLIS K12 and comes in vanilla flavour.

[suse]

i really believe in the product and I hope the company is really starting to gear up. I'd like to hear some positive news soon. Just chucked a few more dollars at my retirement fund :) I'd like to see those heady days of 6c a share back!

[emearg]

Great to see their website finally looks like a real one. Good stuff.

[simla]

Yes, I take my hat off to them. The web site is looking very good.

[emearg]

They should rebrand as Blis Probiotics. Blis Technologies means zip. Keep the company name by all means but as far as marketing/branding goes they need to be more relevant/meaningful.

[davflaws]

They should rebrand as Blis Probiotics. Blis Technologies means zip. Keep the company name by all means but as far as marketing/branding goes they need to be more relevant/meaningful.

I completely agree, and I am currently sitting here wondering why I didn't see that before. They should certainly be trading as "Blis Probiotics"

[ohpark0119]

Wow. That crappy old site is gone. Blis finally entered 21st century in web design.

[gmatt]

Wow. That crappy old site is gone. Blis finally entered 21st century in web design.

Someone likes the new website ....... single buy order in of 4,532,000 at .033c:eek2:

[ohpark0119]

Someone likes the new website ....... single buy order in of 4,532,000 at .033c:eek2:

Yep $148k worth :0. That can buy up to 0.04c.

[Meextr]

Someone likes the new website ....... single buy order in of 4,532,000 at .033c:eek2:
They may have missed the boat.

[RGR367]

They may have missed the boat.

Surely the start of "something big" for the company :p

[Meextr]

In the words of Diana Ross "I'm Still Waiting"

[pierre]

I received the notice of this year's annual meeting of shareholders in the mail today.Included on the agenda is a resolution to increase the aggregate amount payable to non-executive directors from the current total of $150,000 (approved in 2015) to $265,000, effective from the fourth quarter of the current financial year.

The explanatory notes state inter alia:
a) Since 2015 the company's business has grown significantly and the role of the Board has expanded and the current fees do not adequately compensate non-executive directors for the work they do.
b) There is a need to increase fees to attract new directors with one of the long-standing directors exiting the Board.
c) The increase will bring remuneration closer to market rates (but will still be below market) as recommended by Signium Executive Search International.
d) The company's move from an R&D focus to targeting market development & sales and that it is now in a different phase in its life cycle, may require it to seek directors with different skills who can assist BLT to achieve its strategic growth plan. (I guess this implies the current directors - or some of them - may not be the right people.)

Two directors appointed in July 2014 retire by rotation but both are offering themselves for re-election despite the current "inadequate" level of remuneration. Veronica Aris has 17 years sales & marketing experience in relevant related industries. Graeme Boyd was CEO of Comvita form 1998 t0 2005 and is now a consultant specialising in company turnarounds, growth strategies and international marketing.

I'm not sure that the timing of this request is particularly opportune with the company failing to meet its earlier guidance and still not recording a maiden profit. I am sure though, that there are plenty of long-suffering shareholders who have supported BLT through thick and thin who would like to see a positive result achieved on the bottom line before they start paying the directors any more.

Maybe though its a chicken and egg situation and if BLT can attract new directors with different skills we may start to see the results we are anxious for the company to achieve. I would be interested in the views of other holders on this resolution.

I am unable to attend the meeting this year (I went in 2016) but would be prepared to consider giving my proxy to someone who can attend, listen to the discussion and cast a vote in line with what they consider to be in the best interests of the company.

Comments welcome.

Pierre

[Brain]

There has to be some correlation between renumeration and performance. Paying directors in anticipation of good results is not the way to go. Too many N Z companies have very poor performing and over rewarded directors. I do not know what it is like in other countries say USA for example but I suspect that non performing directors would be quickly removed. Not the case in NZ . I am sure Sharetaders could name a number of companies that have collapsed because of dishonest and incompetent board of directors and incompetent CEOs Or CFOs

Bliss has Very good product I use it myself. Unfortunately I have no confidence in the management . I sold my shares a few weeks ago. I will buy back in again if I see a change in performance.

[ohpark0119]

There has to be some correlation between renumeration and performance. Paying directors in anticipation of good results is not the way to go. Too many N Z companies have very poor performing and over rewarded directors. I do not know what it is like in other countries say USA for example but I suspect that non performing directors would be quickly removed. Not the case in NZ . I am sure Sharetaders could name a number of companies that have collapsed because of dishonest and incompetent board of directors and incompetent CEOs Or CFOs

Bliss has Very good product I use it myself. Unfortunately I have no confidence in the management . I sold my shares a few weeks ago. I will buy back in again if I see a change in performance.

Agreed. Pay rise on speculation? Maybe at fuji xerox but not here.

[emearg]

They should rebrand as Blis Probiotics. Blis Technologies means zip. Keep the company name by all means but as far as marketing/branding goes they need to be more relevant/meaningful.

Oh I just noticed their new products have Blis Probiotics in the top left with the dots around part of Blis. Same design but that key additional word. Good stuff.

[suse]

With that level of increase do you think they are considering adding another director. It really depends on how much of an increase they are proposing for each individual director.

I would have liked to have gone to the AGM this year but am overseas. I'd certainly like to hear some more as to why they didnt achieve a profit last year. I was reading an article about the Daigou??? and how ATM do well because their products are often being sold that way and Bellamys? (sorry memory like a sieve) tried to do more of a push towards direct marketing in china and cutting out the Daigou? Bellamys share price plummetted. Is it a coincidence that a couple of major asian shareholders reduced their holdings at the same time that orders were reassessed? Just some thoughts!

edit:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11884911
found the article!

[Joshuatree]

Read about the Science of Blis. (https://blis.co.nz/the-science-of-blis/)

[simla]

I would be interested in the views of other holders on this resolution.
As it happens, Arvida just released a commissioned report on their director fees. https://www.nzx.com/companies/ARV/announcements/303567

On that basis, BLT underpays. But then those figures relate to large concerns turning out regular profits, although BLT is a listed company which should perhaps gain some allowance as well.

I don't begrudge them more money, but some might think it gauche to take a pay rise before they have even turned out their first million dollar full year profit, or any profit even.

On the other hand, the rise takes effect in six months, so maybe they have some very good news to share with us before then?

[ohpark0119]

As it happens, Arvida just released a commissioned report on their director fees. https://www.nzx.com/companies/ARV/announcements/303567

On that basis, BLT underpays. But then those figures relate to large concerns turning out regular profits, although BLT is a listed company which should perhaps gain some allowance as well.

I don't begrudge them more money, but some might think it gauche to take a pay rise before they have even turned out their first million dollar full year profit, or any profit even.

On the other hand, the rise takes effect in six months, so maybe they have some very good news to share with us before then?

If i hear some good news before agm then yes. If not, maybe? Can i vote online via linkmarket or have to attend the agm?

[simla]

As I understand it, you can only either attend, or appoint a proxy in advance. The directors can only vote as proxy on their fees if you direct them how to vote as a proxy. So you can only change your mind depending on what you hear at the meeting by finding someone else that you trust who will be attending the meeting on your behalf and send your proxy for them in advance.

Essentially the rules on shareholders relationships with directors have not changed for hundreds of years as far as I can see, during which time the companies themselves have changed enormously. Maybe better to email the directors group or the Minister or the NZX or the FMA or all of them and tell them it is high time directors had to consult better with shareholders. Good luck with that. (Amended: "write to", since emails invariably bounce off teflon walls of underpaid flunkies who seem to think their job is to ensure that nobody important ever has to bother themselves with actual feedback.)

In this instance, for example, we are being asked to vote for directors who have not seen fit to present us with any written communication to explain why we should do so or what role they each are playing in the board policies, and we are also being asked to vote for increasing fees without any communication explaining why we should do that. Directors are apparently not even legally required to write anything in support of resolutions they put to the AGM nor even tell us who proposed the motion. Likewise they do not seem obliged to write anything in their annual report other than the accounting standards require and any news which is "Material" under the NZX rules, but which they have to release outside the annual report regardless.

I continue to feel that this company could do quite a bit more in shareholder communication.

[simla]

Of course, if you want to be more interesting then there is Section 178 of the Companies Act.

" 178. Information for shareholders

(1) A shareholder may at any time make a written request to a company for information held by the company.

(2) The request must specify the information sought in sufficient detail to enable it to be identified.

(3) Within 10 working days of receiving a request under subsection (1), the company must either—
(a) provide the information; or
(b) agree to provide the information within a specified period; or
(c) agree to provide the information within a specified period if the shareholder pays a reasonable charge to the company (which must be specified and explained) to meet the cost of providing the information; or
(d) refuse to provide the information specifying the reasons for the refusal.

(4) Without limiting the reasons for which a company may refuse to provide information under this section, a company may refuse to provide information if—
(a) the disclosure of the information would or would be likely to prejudice the commercial position of the company; or
(b) the disclosure of the information would or would be likely to prejudice the commercial position of any other person, whether or not that person supplied the information to the company; or
(c) the request for the information is frivolous or vexatious.

(5) If the company requires the shareholder to pay a charge for the information, the shareholder may withdraw the request, and is deemed to have done so unless, within 10 working days of receiving notification of the charge, the shareholder informs the company—
(a) that the shareholder will pay the charge; or
(b) that the shareholder considers the charge to be unreasonable.

(6) The court may, on the application of a person who has made a request for information, if it is satisfied that—
(a) the period specified for providing the information is unreasonable; or
(b) the charge set by the company is unreasonable
as the case may be, make an order requiring the company to supply the information within such time or on payment of such charge as the court thinks fit.

(7) The court may, on the application of a person who has made a request for information, if it is satisfied that—
(a) the company does not have sufficient reason to refuse to supply the information; or
(b) the company has sufficient reason to refuse to supply the information but that other reasons exist that outweigh the refusal,—
make an order requiring the company to supply the information.

(8) Where the court makes an order under subsection (7), it may specify the use that may be made of the information and the persons to whom it may be disclosed.

(9) On an application for an order under this section, the court may make such order for the payment of costs as it thinks fit.

[patrick]

The optimists view might be that news at the meeting will justify the increase, large that it is.
This is a time where the Company needs all the best skills and judgement so I will support.
Bliss, with its great product should, with the best leadership, have produced good profits before now, i reason.
Patrick

[patrick]

And can someone take out the sellers at 034?

[ohpark0119]

The optimists view might be that news at the meeting will justify the increase, large that it is.
This is a time where the Company needs all the best skills and judgement so I will support.
Bliss, with its great product should, with the best leadership, have produced good profits before now, i reason.
Patrick

Agree with you.

[fungus pudding]

There's an article on probiotics in July consumer magazine. No doubt it will interest the probiotic fan club.

[patrick]

And can someone take out the sellers at 034?

Thanks, 035 a bit harder.

[patrick]

Thanks, 035 a bit harder.

Now sellers at 036
Interested to hear others views in light of Friday meeting.
How much will we learn?

[simla]

The news I would like to hear is what the plan is.

Google searches on Blis do not reveal any recent "gosh wow" stories at all (that I see anyway). The new packaging is lovely but also understated. Ditto the new website. Most of the staff has been appointed in the last couple of years or so seemingly, but the impression I get is that they are all hard working and intellectual and earnest people ... and that maybe the company has just appointed a whole lot of people in their own image even? Hard to say due to the lack of any detail and maybe I am completely wrong about that.

We know there are great products. But how to draw that to the world's attention?

There is an episode of WKRP Cincinnati (1980's classic) in which they all prove they can do a better job of sales than loud Herb. But sales aren't going so well by the end and they conceded that they need somebody loud to go out and bring in the business.

Has the company got a disrupter on board? Someone who is loud and communicative? Someone who can grab the attention of the shareholders and the customers? Surely this is the real secret of Xero, that Rod knows a thing or two about beating a drum loudly.

As I understand the idea for the last year or two, it is to make the place more efficient and capable. Okay, that's half the story. But what is the plan to go out and shout loudly in the streets to attract end user customers, and to convince the existing agencies to invest more into their own marketing of Blis, so that being capable and efficient can pay off? We've all seen kids selling lemonade by the roadside. Great product probably, sales tables all there, staff waiting ... and everybody driving by and taking no notice.

The impression I am getting of the company nowadays is of a highly efficient but very quiet company. If so, then what is the plan to grab new customers? To increase sales 10 fold, for example, you basically need 9 new customers for every existing 1. That will only happen with lots of loud and effective communication.

But communication is not a hallmark that we are learning to associate with the company presently, or I'm not anyway.

I've been asking about whether they have a great communicator on board for a couple of years now I think. It remains my great concern. Have they got a disrupter, a communicator, a loud person they probably don't actually like that much maybe because he is not humble? And will they empower him?

And if not, then what is the plan to increase the customer base and therefore sales? How will that be done without loud and frequent communication?

(They are presumably looking for another board member? But Google any of the Blis board members for "news" and get nothing. They don't want to be public presumably, like most people. Nothing wrong with being quiet and private, a lot of very nice and very effective people are that, but this company ALSO needs someone who doesn't mind being loud and public. In my opinion anyway. Start on the next board member maybe?)

The news I would like to hear is what the plan is.

[suse]

i'm intrigued by this latest announcement this morning. Is this softening us up as to why orders this quarter are going to be looking sluggish.

I agree with Simla that they need a loud drum beater. Interesting that in this last year they have had their performance impacted by orders that have been unforthcoming as a result of changes in the way their customers order. What are they doing to ensure they are getting new customers. That's what I want to hear.

Still a believer though.

[silverblizzard888]

i'm intrigued by this latest announcement this morning. Is this softening us up as to why orders this quarter are going to be looking sluggish.

I agree with Simla that they need a loud drum beater. Interesting that in this last year they have had their performance impacted by orders that have been unforthcoming as a result of changes in the way their customers order. What are they doing to ensure they are getting new customers. That's what I want to hear.

Still a believer though.

Its a positive delay

[patrick]

Its a positive delay
Impact on sales
"While this was still pending"
Not pending now but perhaps the Company is wrong in suggesting the drop in orders is historical.

[simla]

i'm intrigued by this latest announcement this morning. Is this softening us up as to why orders this quarter are going to be looking sluggish.
It will be interesting to hear. Could be good news coming, could be not so good. We'll find out on Friday.

I know absolutely nothing about the new CEO and assume he has brought much skill history with him. But any CEO has only two real objectives: sales growth and profit. The board are presumably watching both with much interest. This AGM represents 17 months in the job now.

[GR8DAY]

I MIGHT BE MISSING SOMETHING BUT ISN'T THIS MORNINGS ANNOUNCEMENT JUST CONFIRMING WHAT THE MARKET WAS TOLD A FEW MONTHS BACK? (he turns caps lock OFF) .....and from what Im reading this must be GOOD NEWS going forward ie Polands Largest Food Company now takes control of 2 products containing BLIS and increases staff to promote it??? Sounds like a lucky and positive break going forward to me.

[simla]

It surely depends on what we hear on Friday?

"Current sales are doing very well and future growth is in the wings" is good. But "Current sales are down (one of Europe's strongest brands delayed orders) but should recover in future" is less so. There was no mention of new staff by the way.

I have no idea what they thought we would understand from that announcement. Sorry.

[Chippie]

This announcement is good news look at
http://en.maspex.com/maspex,maspex-wadowice-group,3.html

"Maspex Wadowice Group is one of the biggest companies in Central and Eastern Europe in the segment of food products.
The company is the clear market leader in the production of juices, nectars and soft drinks in Poland, the Czech Republic and Slovakia and the main producer in Hungary, Romania, Bulgaria and Lithuania. It is also the leading producer of instant products (cappuccino, cocoa, coffee creamer, instant tea)....
For years, the company’s unchanged strategy has been to build brands that are deeply rooted in consumer consciousness and to accomplish projects of acquisition that may expand and develop its range of brand products. Over the last 25 years the Maspex Wadowice Group has completed 18 such acquisitions, including 10 abroad....
Products of Maspex Wadowice Group are sold to over 50 countries worldwide. The company cooperates with consignees in the European Union and other European countries, in the US, Canada, in the Middle and Far East. In the majority of these countries the products may be found on the shelves in the biggest commercial chains. Foreign sales accounts now for 35 % of the company’s turnover...
In 2015 the consolidated revenues from sales of Maspex Wadowice Group amounted to over 3,73 bln PLN." (note this is approx NZ$136B)

[Chippie]

Also I think the best strategy is to get the big distributors on board with BLIS products. So not too concerned that we do not hear much news in NZ as the NZ market is too small to make a real difference. In fact I am a little concerned that we have had soem TV advertising in NZ, unless this is just trialing an advert for oversea;s to use?

But agree that we really need to get an idea of what the strategy is.

[ohpark0119]

I MIGHT BE MISSING SOMETHING BUT ISN'T THIS MORNINGS ANNOUNCEMENT JUST CONFIRMING WHAT THE MARKET WAS TOLD A FEW MONTHS BACK? (he turns caps lock OFF) .....and from what Im reading this must be GOOD NEWS going forward ie Polands Largest Food Company now takes control of 2 products containing BLIS and increases staff to promote it??? Sounds like a lucky and positive break going forward to me.

Statement only says "Maspex have also taken on key staff involved with the ENTitisTM brand", not new staff. Then again, better to hear this then something like "fired all key staff involved..."

[RGR367]

Just a takeover announcement folks and this is not what a gut feel would say, "I'm All IN". Sorry but they should give us something more substantial than this.

[GR8DAY]

..........Thanks for that CHIPPY. NZ $136B IS A MIGHTY LARGE NUMBER BY ANYONES RECKONING. (what percentage of NZs GDP I wonder?) So added exposure now (for Blis) to over 50 countries through Maspex is on the cards......probably a given. What I would like to know is wether or not they (Maspex) targeted only the 2 products containing BLIS or was it just a general takeover of all products, from the previous distributor? Can anyone confirm or deny that?

[ohpark0119]

..........Thanks for that CHIPPY. NZ $136B IS A MIGHTY LARGE NUMBER BY ANYONES RECKONING. (what percentage of NZs GDP I wonder?) So added exposure now (for Blis) to over 50 countries through Maspex is on the cards......probably a given. What I would like to know is wether or not they (Maspex) targeted only the 2 products containing BLIS or was it just a general takeover of all products, from the previous distributor? Can anyone confirm or deny that?

It's 3.73b PLN which is somewhat equivalent to 1.36b NZD, not 136b. Eu numeracy system using , as a . but 1.36b revenue is still big

[GR8DAY]

Statement only says "Maspex have also taken on key staff involved with the ENTitisTM brand", not new staff. Then again, better to hear this then something like "fired all key staff involved..."

....."key staff" , possibly reads even better than "new staff"......... "key staff" may also be "New staff"??! To me "key staff" clearly indicates they are targeting sales for those 2 products containing BLIS. That's my preferred interpretation anyway? Whatever , it's only good news and hopefully more to come.

[Chippie]

oops, missed the decimal point on the exchange rate :(

Also I think the best strategy is to get the big distributors on board with BLIS products. So not too concerned that we do not hear much news in NZ as the NZ market is too small to make a real difference.

But agree that we really need to get an idea of what the actual strategy is.

[ohpark0119]

....."key staff" , possibly reads even better than "new staff"......... "key staff" may also be "New staff"??! To me "key staff" clearly indicates they are targeting sales for those 2 products containing BLIS. That's my preferred interpretation anyway? Whatever , it's only good news and hopefully more to come.

a good (but not HURRAY!!) news. If they said "planning to taken on key staff" then it would've been bad. However the statement doesn't mention anything on delayed orders being processed. Now the acquisition has completed, are orders being filled in or not? That's what we want to know.

[Chippie]

Just a takeover announcement folks and this is not what a gut feel would say, "I'm All IN". Sorry but they should give us something more substantial than this.

Makes me wonder what chance there is of Maspex taking over BLT?

re "For years, the company’s unchanged strategy has been to build brands that are deeply rooted in consumer consciousness and to accomplish projects of acquisition that may expand and develop its range of brand products. Over the last 25 years the Maspex Wadowice Group has completed 18 such acquisitions, including 10 abroad "

[ohpark0119]

Makes me wonder what chance there is of Maspex taking over BLT?

re "For years, the company’s unchanged strategy has been to build brands that are deeply rooted in consumer consciousness and to accomplish projects of acquisition that may expand and develop its range of brand products. Over the last 25 years the Maspex Wadowice Group has completed 18 such acquisitions, including 10 abroad "

unlikely but can't say since BLT share price is so low. If they were to consider acquisition, now would be best. it would all come down to maspex management's view on probiotics market and how attractive blis is.

[bulyak]

NZ market is probably bigger than many might think. My guess is that there is about 7-10 million worth of sales on the table here in NZ with a product like this. Their advertising program would put you off the product. It appears like the brief was prepared by an accountant. If Aussie sees the momentum success in NZ it could easily be worth 15-25 million. Blis already have the distribution network in place outside of Australasia. Which is to be applauded. Show these distributors in the other other world markets who Blis already sell through how it is done. Use the same advertising collateral. Tweak for their markets. Show them how to create customer demand with such a brilliant product and effective marketing program. Would appear the board is focusing on the process and not the result. Any revenue less then 10 million is pathetic for a company with this many chiefs of this and that and a board being paid over 150K per annum. I think their main ingredient comes off patent in something like 2 years, so they better get their A into G and start getting a run on sales and build the brand before a competitor comes on board. The whole patented process is sitting there within their patent filing. Some might say the bacteria cultures cannot be duplicated, but I dont buy it. Copycat will be waiting in the background. Simla's comments from earlier are on the mark. Based on progress to date, they might hit sales of 10 million by 2019. With real go and some sales focus leadership, it would hit 30-50 million by 2019/20. Maybe more. Until there is a paradigm shift it will remain another NZX listed entity of the same ole same ole. As for this distribution buyout in Eastern Europe. Wouldnt it be great if a company like Maspex could see just how successful this product is in a market that is a fraction of the size of Europe(IE Australia/NZ). They would then have no problem at throwing big budgets at getting the traction in the European market and afar..... Everybody wins.......They may even pay a premium for the whole thing.

[suse]

Ok I went back and re-read the annual report so yes maybe they arent softening us up as it was discussed in the annual report about a couple of key customers deferring orders due to change of ownership. I was thinking perhaps it was another! It was interesting to re-read actually as there is quite a lot going on in the pipeline. But they certainly arent bold, prudent is a word they like.

So now I'm sitting here thinking about buying another 100k seeing as some money dropped into my account today fortuitously. I wonder if and when we will ever get to a point where we will see dividends ? What to do, what to do....

[patrick]

The Update is Price Sensitive.
Does anyone, like me, think the Company believes it is "bad" news?

[fungus pudding]

The Update is Price Sensitive.
Does anyone, like me, think the Company believes it is "bad" news?

Yes. More likely than not. I'm not a shareholder - just a long term observer.

[silverblizzard888]

The Update is Price Sensitive.
Does anyone, like me, think the Company believes it is "bad" news?

"We believe that the resources and expertise of a company like Maspex will bepositive for our ongoing success in Poland.”

Sounds pretty positive to me, though I don't think will be reflected in the near time, it provides for a good partner down the track with room to grow product demand.

[ohpark0119]

The Update is Price Sensitive.
Does anyone, like me, think the Company believes it is "bad" news?

I don't see it as bad news but do wonder why this was price sensitive. If blis was to release a price sensitive news, it should include something like "new acquisition will increase/decrease sales".

I need to google why maspex acquired saquoia (if i can find it...) , was saquoia near bankcruptcy so maspex purchased dirt cheap or they saw a potential in probiotics market so wanted to jump in? If anyone know please share with forum.

[patrick]

Can I shift please?
With the benefit of another read and alcohol I think the Notice is positive, hope so

[ohpark0119]

All i could find was maspex bought 44% of saquoia in 2015 and bought the remaining share this time?

[patrick]

Predictions for news tomorrow please.
I have held these shares for years, probably 15, and it's always the same........prospects
Any thoughts from those who know more?

[pierre]

Predictions for news tomorrow please.
I have held these shares for years, probably 15, and it's always the same........prospects
Any thoughts from those who know more?

Hi Pat. I'm just a newbie shareholder in BLT - only held mine since 2005 (and topped up plenty of times since then).

My prediction is that we will receive promises and forecasts that things are getting/ will be better soon, at the ASM tomorrow.

We will also be told that there are difficulties penetrating the market in China/Europe/USA/Asia etc.

And we will be told that paying the directors more will be a good thing. (They will be much happier at their Board meetings and eventually will ensure good things happen for the shareholders one day).

We will also be told that there is slight possibilty that the long awaited maiden profit might occur this year - as long as there are no product recalls/distributor upheavals/regulatory dramas in whatever country.

In addition, we will be advised that the BLT team is working very hard to increase sales but expenses might have to increase again to make that happen.

I have to admit I don't actually know these things - but I have a feeling they might be pretty safe assumptions.

[simla]

it's always the same........prospects



(000s)20132014201520162017



Revenue11611322263156616547


Loss-1856-1541]-1373-816-24


Net cash flow (ex finance)-1110-1324-1516-919-71


[tr]


So, no. Much progress has been made. And in fact the 2017 result was still a good gain on 2016 since most of the increase in revenue was reflected in the bottom line rather than lost in even more expenses.

But we cannot really know what to expect of this year (now already one third complete) without the company telling us their intentions. Do they intend to force out a decent profit, or is there more expense they have been itching to make?

Unfortunately the company doesn't seem keen on discussing their own opinions of the situation. I'm sure they know exactly what profit they are hoping for this year and next, but I'm not really expecting to hear that information.

News tomorrow? I'm not really expecting a whole lot to judge by recent experience.

[bulyak]

Hi Pat. I'm just a newbie shareholder in BLT - only held mine since 2005 (and topped up plenty of times since then).

My prediction is that we will receive promises and forecasts that things are getting/ will be better soon, at the ASM tomorrow.

We will also be told that there are difficulties penetrating the market in China/Europe/USA/Asia etc.

And we will be told that paying the directors more will be a good thing. (They will be much happier at their Board meetings and eventually will ensure good things happen for the shareholders one day).

We will also be told that there is slight possibilty that the long awaited maiden profit might occur this year - as long as there are no product recalls/distributor upheavals/regulatory dramas in whatever country.

In addition, we will be advised that the BLT team is working very hard to increase sales but expenses might have to increase again to make that happen.

I have to admit I don't actually know these things - but I have a feeling they might be pretty safe assumptions.

You are spot on!

[ohpark0119]

Hi Pat. I'm just a newbie shareholder in BLT - only held mine since 2005 (and topped up plenty of times since then).

My prediction is that we will receive promises and forecasts that things are getting/ will be better soon, at the ASM tomorrow.

We will also be told that there are difficulties penetrating the market in China/Europe/USA/Asia etc.

And we will be told that paying the directors more will be a good thing. (They will be much happier at their Board meetings and eventually will ensure good things happen for the shareholders one day).

We will also be told that there is slight possibilty that the long awaited maiden profit might occur this year - as long as there are no product recalls/distributor upheavals/regulatory dramas in whatever country.

In addition, we will be advised that the BLT team is working very hard to increase sales but expenses might have to increase again to make that happen.

I have to admit I don't actually know these things - but I have a feeling they might be pretty safe assumptions.

would be funny if this is exactly what they say tomorrow

[pierre]

would be funny if this is exactly what they say tomorrow

Amusing but disappointing if that turns out to be the case.
I had high hopes of transformation of BLT under the new CEO's leadership but feel a bit disillusioned at his lack of communication with the market.
Hopefully someone will give him a poke with a sharp stick at the meeting.

[ohpark0119]

I couldn't attend the AGM so i've gone through the slides and i don't see any bad news but nothing interesting. BAU 'business will look into growing'

[winner69]

Note 30% odd voted again increasing directors rem and 14% abstained

That's telling then something .....if they actually listen

[ohpark0119]

Note 30% odd voted again increasing directors rem and 14% abstained

That's telling then something .....if they actually listen

If only they asked after turning profit

[Leftfield]

NBR reports...

"Blis Technologies expects to post a maiden profit in the current financial year as the Dunedin-based company says it is positioned for sustainable, profitable growth in a rapidly expanding market.

[ohpark0119]

NBR reports...

"Blis Technologies expects to post a maiden profit in the current financial year as the Dunedin-based company says it is positioned for sustainable, profitable growth in a rapidly expanding market.



Deja vu...

[RGR367]

Deja vu...

Yeah, and just like Linkin Park with Chester Bennington (RIP) singing.....

"I tried so hard, and got so far.
But in the end, it doesn't even matter" :confused:

Seriously, anyone attended the AGM?

[simla]

Actually the NBR appears to have been quoting the presentation which made clear it was merely repeating the last guidance given. It would be nice to hear from anyone who was actually at the meeting obviously.

[simla]

So, what did we learn from that presentation?

Well, obviously not a lot that we did not already know before, and specifically sales revenue to date.

Is there a plan? Yes, again it was laid out that the idea is to fill in the gaps in the market with a "broader and deeper channel presence". Well, that makes sense and is presumably the plan when multiplied across all markets. The presentation makes it sound like that is only happening in NZ but presumably the intention is to do it everywhere. Well, it makes sense. The company has gained access to the national markets, and then the idea is to increase the market presence.

And they repeated that last year's intention was to "build the business" this year, and then to "grow the business" and "invest in the pipeline" forwards from here. Again sensible stuff.

So we got very little actual news but we did get confirmation that they have chosen their plan and are running with it.

I think we old time investors have two issues going here. Firstly, the company has got very frugal with detailed news. I cannot for the life of me understand why they do that. It makes life difficult for investors. This is a publicly listed company and not a private company.

But, secondly, there appears to have been a major culture shift here. What was a "bold stroke on minimum budget" approach has suddenly been changed to a "large staff big budget micro-planned incremental" approach. Now, I think probably a lot of us early investors were there for the excitement and now the company has changed to the next phase of a large company and the pace seems a lot slower to us, a lot more deliberate.

But it may be that it is us who do not belong here now and not that the company is doing anything wrong. It is a different company now. I certainly am personally finding I am not really bonding with this new approach, but that doesn't mean that anything is actually wrong and maybe it does mean that I do not belong in this new direction.

But then the company is not releasing much news so that people like us find it difficult to exit because the company refuses to actively get involved with market perception. On logical grounds, the company is now a sound investment and yet the company seems disinterested in communicating that to the market.

Anyway, is there a plan? The presentation appeared to say, "Yes there is and this is it, like we said last time. We don't need a loud drum for rapid growth because we believe the incremental mathematical approach will pay off surely over time."

Or that's what I saw, anyway.

[winner69]

So, what did we learn from that presentation?

Well, obviously not a lot that we did not already know before, and specifically sales revenue to date.

Is there a plan? Yes, again it was laid out that the idea is to fill in the gaps in the market with a "broader and deeper channel presence". Well, that makes sense and is presumably the plan when multiplied across all markets. The presentation makes it sound like that is only happening in NZ but presumably the intention is to do it everywhere. Well, it makes sense. The company has gained access to the national markets, and then the idea is to increase the market presence.

And they repeated that last year's intention was to "build the business" this year, and then to "grow the business" and "invest in the pipeline" forwards from here. Again sensible stuff.

So we got very little actual news but we did get confirmation that they have chosen their plan and are running with it.

I think we old time investors have two issues going here. Firstly, the company has got very frugal with detailed news. I cannot for the life of me understand why they do that. It makes life difficult for investors. This is a publicly listed company and not a private company.

But, secondly, there appears to have been a major culture shift here. What was a "bold stroke on minimum budget" approach has suddenly been changed to a "large staff big budget micro-planned incremental" approach. Now, I think probably a lot of us early investors were there for the excitement and now the company has changed to the next phase of a large company and the pace seems a lot slower to us, a lot more deliberate.

But it may be that it is us who do not belong here now and not that the company is doing anything wrong. It is a different company now. I certainly am personally finding I am not really bonding with this new approach, but that doesn't mean that anything is actually wrong and maybe it does mean that I do not belong in this new direction.

But then the company is not releasing much news so that people like us find it difficult to exit because the company refuses to actively get involved with market perception. On logical grounds, the company is now a sound investment and yet the company seems disinterested in communicating that to the market.

Anyway, is there a plan? The presentation appeared to say, "Yes there is and this is it, like we said last time. We don't need a loud drum for rapid growth because we believe the incremental mathematical approach will pay off surely over time."

Or that's what I saw, anyway.

Hugs around Simla - hang in there and don't feel like a jilted lover

[simla]

Aw, shucks. http://icons.iconarchive.com/icons/codicode/smiley/48/kiss-icon.png

[Leftfield]

Hugs around Simla - hang in there and don't feel like a jilted lover

At current prices I'm up 46%, and am happy to hold as it inches towards profitability in FY18. Patience is certainly needed with this one.

[simla]

Patience is certainly needed with this one.

I don't know how much longer I will be part of that journey myself, to be honest. The grapevine reports that discussions at the meeting were fairly persistent. (Sorry, I only report things that I can post links to, so I won't be saying more than that, either here or via PM.) It reminds me that things have changed and I ask myself whether as a shareholder I see myself as part of the journey the company is now embarked on. I only just posted that personally I am having difficulty bonding with the new strategy, and I recently posted that I had sold some down anyway.

Most likely the company will be reporting a profit in November, and then bigger profits through next year. But I nevertheless have a feeling that my own time as a Blis shareholder may be drawing near the end sometime. Nothing lasts forever. I've made a profit already, as you say.

ps. The more observant of you will notice that it is July 2017. To your left you will notice that I joined in July 2007. Ten years.

[pierre]

Hi Simla

Maybe we're starting to experience the FE at Blis. What's the FE? It's the "Fonterra Effect".

I'm not a Fonterra holder, don't know much about that company and cant describe what the FE actually might be - but that's where our CEO came from and he must have been influenced by what happens there. Fonterra also does quite bit of manufacturing for BLT.

Does Fonterra have a tight-lipped policy with their shareholders? Maybe - I don't know. One thing I am pretty sure about though, is that Fonterra does know how to employ large numbers of people and pay many of them big bucks. The FE has already been seen in the BLT Board remuneration upgrade - let's hope it doesn't migrate too much further into the overall culture at BLT - at least not until there's a buck or two available for the long-suffering shareholders.

Like you, I'm pretty peeved at the way things are being handled as far as communication with the market is concerned. However the Board does seem to be more confident of delivering a profit this year, even though it hasn't been quantified. And after all the promises of the past, we cant blame Mr Market for sitting on his hands and waiting for some real money to be made. A bit of FE on the bottom line wouldn't be a bad thing!

Regrettably though, we're also having to deal with the RE - the Rachel Effect - "it wont happen overnight but........"

Once again - Patience Grasshopper!

Bonne chance
Pierre

[suse]

well I felt rather flat after this presentation and even flatter watching the share price dip a bit lower.. It's a shame I was overseas as I definitely would have trekked down to Dunedin to have a listen and get a feel for what is happening. INteresting new products coming along, so good to know that..

What happened to those heady days of 6c!!! :) Come back, all is forgiven.

[Leftfield]

well I felt rather flat after this presentation and even flatter watching the share price dip a bit lower.. It's a shame I was overseas as I definitely would have trekked down to Dunedin to have a listen and get a feel for what is happening. INteresting new products coming along, so good to know that..

What happened to those heady days of 6c!!! :) Come back, all is forgiven.

Bit of an uplift today...... no doubt heeding your concerns.... well done!! ;)

[winner69]

Simla - so it really is divorce time?

[simla]

Don't know. But the conviction in my heart is cooling. Perhaps they will announce some great news in a bit and the romance will be back on. But the company is dancing to a very different beat now, and it just isn't the sort of company now that I would have invested in from scratch. I just don't know. I know I'm cooling though. I only invest when I get where the management is going, and personally I don't seem to get where the new management is going. Just my own view, as always.

[Arthur]

I went to the AGM. There was quite some debate about raising the directors fees. They said the increase is needed to for succession planning. The Chair will retire not long after the new fees kick in. They are well aware that patents start to expire soon. They believe that there is some protection in process and the brand name. Private investors are spending up big in China trying to try and get sales there, but it is a complex area. Italy is going well, but it is raw ingredient sales. Canada and Aussie should increase soon. Japan is doing ok, but is complex. Websales are tricky as they cant promote health benefits in most places. The USA is a real problem area website wise. German regulation all but blocks them there. The Polish deal could be a company maker (we have heard that before many times, but surely one of them will come right)

[Arthur]

They are naturally gun shy on profit projections. Sales are still lumpy, last years "profit" disappeared after a few delayed orders. I am hoping that they are now going to under promise and over deliver. They said that they have no plans to raise further cash, but if the customer from heaven arrives with big orders they would not rule it out.

[simla]

Thanks for the posts, Arthur.

[ohpark0119]

Thank you Arthur.

[pierre]

Thanks Arthur - appreciated.
Fundamentally the news is more of the same as we've had in previous years. A bit of variation on the theme but not really too much different.
Still a waiting game I'm afraid - but maybe a marginally better chance of success this year. Maybe being the operative word!

[RGR367]

........................They said that they have no plans to raise further cash, but if the customer from heaven arrives with big orders they would not rule it out.

Thanks Arthur.
To others, how big would that order of a customer from heaven be for them to raise additional cash? And what for? Will they need additional staff or more manpower? Improve the lab for ingredients? I'm not getting the reasoning for the need of cash just because a big order comes along so maybe you guys can explain it to me a bit. Thanks again.

[patrick]

well I felt rather flat after this presentation and even flatter watching the share price dip a bit lower.. It's a shame I was overseas as I definitely would have trekked down to Dunedin to have a listen and get a feel for what is happening. INteresting new products coming along, so good to know that..

What happened to those heady days of 6c!!! :) Come back, all is forgiven.

I was keen to go but my last AGM, including a trip down the mine with other shareholders, was north of Blackball.
I try and convince myself that the new CEO would not have taken extra people, and expense, on if he did not think the Company had good prospects.
All going well 6c may not be that faraway

[Arthur]

Like many of us that have been invested a while I'm somewhat jaded about all of the opportunities than have never come to anything. I did get the vibe that they are taking more control, rather than leaving it to third parties. NZ sales are still growing. In Canada they are actually allowed to tell people of the health benefits. If Canadian sales were even half of NZ's on a per capita basis the company would be making good profits. If China gets into gear I'll be off I'll be driving a new Tesla (don't hold you breath Elon). RGR367 asked why they might need cash - lets say a customer gives them 3 months to deliver $10 million worth of product and expect to place regular similar orders. They would need more working capital and equipment, hence cash. This is not probable, but it it is possible. Disclosure - I sold about half of mine about a year ago and have not bought back yet.

[fungus pudding]

I'm not a shareholder but a regular reader of this site. I would dearly love Blis to be successful, being a Dunedinite and enthusiastic about local industry. And while I greatly admire the loyalty many on this site have shown to Blis I think most of you have rose tinted glasses and cannot see the problem. So here is my opinion, for which I am sure to be attacked: The product is no good. It does nothing. The only following Blis products seems to have is from its shareholders. Quite simply the stuff hasn't taken off among the public.
Sorry to be a merchant of doom, but I can't see a future at all unless they change direction to something that appeals to Joe Blow. So ask yourself honestly, without involvement as a shareholder, would you bother with the stuff.
That's my opinion and why I don't bother investing in Blis.

[artemis]

Probiotics are in at the mo, lots of books and articles on the biome, many recent. BLIS has a track record with oral probiotics.

As for working, there is quietly growing evidence of efficacy particularly relating to strep throat. Which is implicated in rheumatic fever (some cases are hugely expensive to treat) and psoriasis (lots of cases).

And I offer my family's experience. I was an early adopter, years ago, when one course of BLIS stopped in its tracks a mild but persistent sore throat. Family swear by HoneyBlis for sore throats, especially the children.

[ohpark0119]

Guess we will need to wait until 30th Sept to see the results

[GR8DAY]

I'm not a shareholder but a regular reader of this site. I would dearly love Blis to be successful, being a Dunedinite and enthusiastic about local industry. And while I greatly admire the loyalty many on this site have shown to Blis I think most of you have rose tinted glasses and cannot see the problem. So here is my opinion, for which I am sure to be attacked: The product is no good. It does nothing. The only following Blis products seems to have is from its shareholders. Quite simply the stuff hasn't taken off among the public.
Sorry to be a merchant of doom, but I can't see a future at all unless they change direction to something that appeals to Joe Blow. So ask yourself honestly, without involvement as a shareholder, would you bother with the stuff.
That's my opinion and why I don't bother investing in Blis.

.......PUDDING, it's not designed for eradicating FUNGUS sorry mate. Try Lamisil it's supposed to work well! As for the efficacy of BLIS......well I think the numbers speak for themselves dont they?........$100k plus of product (repeatedly) going out the door each week???

[fungus pudding]

.......PUDDING, it's not designed for eradicating FUNGUS sorry mate. Try Lamisil it's supposed to work well! As for the efficacy of BLIS......well I think the numbers speak for themselves dont they?........$100k plus of product (repeatedly) going out the door each week???

That doesn't tell us much. Are the sales escalating to show repeat and new business? I do not know, but seriously doubt that there is much repeat business. Good luck to you as an obvious believer, but I am not one.
BTW thank-you for the oncern re my fungus. However it's part of me so do not want to cure it. It would be a little like you becoming GR8Fiveseconds. :D

[GR8DAY]

That doesn't tell us much. Are the sales escalating to show repeat and new business? I do not know, but seriously doubt that there is much repeat business. Good luck to you as an obvious believer, but I am not one.
BTW thank-you for the oncern re my fungus. However it's part of me so do not want to cure it. It would be a little like you becoming GR8Fiveseconds. :D

LOL FP......some Fungus' are edible I believe so it can't be all that bad! With all due respect I personally believe BLIS is a product that indeed generates repeat business. I would very much doubt the steadily growing revenue is from mainly new customers. Yes I agree though it would be helpful to know what the breakdown is, in this regard. As ARTEMIS eluded to the benefits are numerous and science is saying NOT just pertaining to the oral cavity........but that's where it starts and finishes if a strong and healthy oral environment is maintained.

[Chippie]

I 100% beleive in the product. For years my family has used it and I have no doubt it works for throats and also greatly reducing getting and also the impact of colds.

The bad breath product is 100%. After years of suffering bad breath I now only need to use the bad breath product approximately 3 times per year.

So for me it is the sales and distribution that is holding the comapany back. We really need a large international partner to believe in the product and run with it.

Just my opinion. But would be stuffed if BLIS went out of business and I had to find another bad breath treatment :(

[Chippie]

In the past month. I was unable to purchase BLIS on Lambton Quay because a lady from oversea's came in in purhcased all their stock.

My wife then has the same issue in Johnsonville.

So a few people are buying the product, at least in Wgtn

[fungus pudding]

In the past month. I was unable to purchase BLIS on Lambton Quay because a lady from oversea's came in in purhcased all their stock.

My wife then has the same issue in Johnsonville.

So a few people are buying the product, at least in Wgtn

What is 'all their stock'? Some of those lines are bought in quarter dozens.

[GR8DAY]

I 100% beleive in the product. For years my family has used it and I have no doubt it works for throats and also greatly reducing getting and also the impact of colds.

The bad breath product is 100%. After years of suffering bad breath I now only need to use the bad breath product approximately 3 times per year.

So for me it is the sales and distribution that is holding the comapany back. We really need a large international partner to believe in the product and run with it.

Just my opinion. But would be stuffed if BLIS went out of business and I had to find another bad breath treatment :(

......that's a great endorsement CHIPPY! That really goes to show how solid the science is behind BLIS. Halitosis as we all know is caused by the BAD bacteria. BLIS of course introduces the GOOD bacteria to overcome the BAD. Now to say you only have to "enhance" the GOOD using BLIS maybe 3 times a year (to suppress the bad breath), just goes to show the that the benefits are REAL and more importantly ON-GOING. I must admit I have often wondered this myself and wether or not it's in fact necessary to be taking it EVERY day........after all once BLIS is introduced surely the colonization process has begun? Clearly a game of numbers.....GOODIES V BADDIES.

[Chippie]

What is 'all their stock'? Some of those lines are bought in quarter dozens.

Not sure about Johnsonville.But the pharmacy on Lambton Quay is large (on the golden mile) and has full shelves of anything they sell as they are very busy. From memory they held the full range including honeyblis and plenty of stock, I plan to be in town tomrorow so will do a stock take.

[artemis]

Last week I asked for HoneyBlis at Countdown Pharmacy in Newtown. Big store with specialist pharmacy. I was told not in stock, they could not get it. I told them that distribution is now via BLIS in Dunedin, has been for some time now, and that they need to follow up with their pharmacy buyers. Will they? Probably not but will ask again next time I am there.

I didn't ask about other BLIS products but will check.

[ohpark0119]

Can we all just love each other? We will know who's right and wrong on 30th sept.

[patrick]

......that's a great endorsement CHIPPY! That really goes to show how solid the science is behind BLIS. Halitosis as we all know is caused by the BAD bacteria. BLIS of course introduces the GOOD bacteria to overcome the BAD. Now to say you only have to "enhance" the GOOD using BLIS maybe 3 times a year (to suppress the bad breath), just goes to show the that the benefits are REAL and more importantly ON-GOING. I must admit I have often wondered this myself and wether or not it's in fact necessary to be taking it EVERY day........after all once BLIS is introduced surely the colonization process has begun? Clearly a game of numbers.....GOODIES V BADDIES.

I had a problem with bad breath, "furry" tongue, and comments from family and workmates. Have been using Blis Throat Guard, as it was,for three years and tongue is clean and breath fine. It has been great for me. Others may not fare as well, but it's cheap enough to try.

[ohpark0119]

just bought my first blis product - tooth guard. my dentist told me i have minor decay on the surface of some teeth and told me to keep them clean to prevent further decay (gotta visit again in a month to see progess). Lets see how this goes.

[RGR367]

My DYOR is trying out their product (K12 Throat Guard) for a period of about 6 - 8 months. And without hesitation I will testify it worked for me and still working for me whenever I needed it. So without questioning the science behind it, I became a shareholder.

[patrick]

My DYOR is trying out their product (K12 Throat Guard) for a period of about 6 - 8 months. And without hesitation I will testify it worked for me and still working for me whenever I needed it. So without questioning the science behind it, I became a shareholder.
As I did, although I did the research before buying shares.
Now enjoying the ride and very pleased with results from my use of Throat Guard.
Disc: Substantial shareholder

[artemis]

On a more general note, this from Fortune mag -

Biotech stocks on a roll in 2017. As you may have seen, the Dow crossed the 22,000 mark on Wednesday—a record. One sector that's outpaced the overall market? Biotech. While the Dow, S&P, and NASDAQ are all up anywhere from 11% to 18% year-to-date, major biotech indices are up anywhere from 20% to 30%.

[patrick]

In the past month. I was unable to purchase BLIS on Lambton Quay because a lady from oversea's came in in purhcased all their stock.

My wife then has the same issue in Johnsonville.

So a few people are buying the product, at least in Wgtn
Checked while in Wgtn today, plenty of stock in Lambton Quay

[ohpark0119]

Wish blis share went up like ntl haha

[patrick]

Wish blis share went up like ntl haha

Up over 20% in 3 months. Hope they supply Blis down the mine?

[gmatt]

Wish blis share went up like ntl haha

I sold my Blis shares a couple weeks ago to buy more NTL ..... you have to be lucky sometimes!

[patrick]

No profit till u sell, Blis may be in for the better 2 years

[ohpark0119]

Cfo resignation. Any thoughts?

[winner69]

Cfo resignation. Any thoughts?

Seems like it wasn't a full time job anyway - then again not much too many beans for chief bean counter to count is there.

Maybe just bored?

Whstever new guy will be paid heaps more ....biting into profits?

[pierre]

Seems like it wasn't a full time job anyway - then again not much too many beans for chief bean counter to count is there.

Maybe just bored?

Whstever new guy will be paid heaps more ....biting into profits?

Yep - I have no doubt the Fonterra Effect will apply once again. Spend more on the troops while the shareholders wait ...and wait.....and wait.

[ohpark0119]

CMO buying 790k @ 3.3c avg.

[suse]

CMO buying 790k @ 3.3c avg.
well I'm always happy to see the marketing people believe their own hype! :) I just checked her linked in profile and I see she is ex Pfizer so she should know a thing or two

[GR8DAY]

......Chief Marketing Manager must be happy with sales up lift. Could be sign of positive things on or just over the horizon. 790,000 shares not to be sneezed at either.

[RGR367]

......Chief Marketing Manager must be happy with sales up lift. Could be sign of positive things on or just over the horizon. 790,000 shares not to be sneezed at either.

It's good but c'mon guys, you can sneeze on that as I'm sure those old timers with this share have a lot lot more than 790K.

[pak]

Yes A sneeze for someone in this position maybe. Depends how much they had just floating around. Could also be a start to a buying spree, maybe..........................maybe we will start to see some action again.........
At least they are not selling eh?
Waiting an watching.

Ps
Used throat guard as recommended by the pharmacist this winter when I went through a rough patch I was struggling to shake. Made out I knew nothing about bliss - they were singing the praises of the product much to my delight.


Happy holder.

[ohpark0119]

julie anne bought another batch. she bought ~790k shares between 1st to 9th august and the disclosure today shows she bought 366971 on 10th August. However, attached pdf in latest disclosure shows her holding was 0 before acqui/dispo... just a typo in document?

thanks

[ohpark0119]

Also on 9th august, two of blis big holders (LEVERAGED EQUITIES FINANCE LIMITED and NEW ZEALAND CENTRAL SECURITIES DEPOSITORY LIMITED) increased their holdings. equities finance only went up by 3000 but NZSCD went up by 2M.

http://www.companiesoffice.govt.nz/companies/app/ui/pages/companies/1042367/24720514/entityFilingRequirement?backurl=%2Fcompanies%2Fapp %2Fui%2Fpages%2Fcompanies%2F1042367%2Fdocuments

[artemis]

Checked while in Wgtn today, plenty of stock in Lambton Quay

I bought some in LQ last week. I asked for HoneyBlis specifically (for one of the kids), but was also recommended a Comvita product. Although I hadn't said what the symptoms were. I asked the staff member if the Comvita one was a probiotic like Blis but was just told it had manuka honey.

Made me wonder if the staff had been informed about Blis properties. Or if there was some other reason to recommend Comvita.

[Chippie]

The lady I dealt with in Lambton Quay was a real advocate. She new the products and said she used it herself. So I guess it depends on the individuals?

[patrick]

julie anne bought another batch. she bought ~790k shares between 1st to 9th august and the disclosure today shows she bought 366971 on 10th August. However, attached pdf in latest disclosure shows her holding was 0 before acqui/dispo... just a typo in document?

thanks

Some are hard to please.
I think this is GREAT news. Its nearly a guarantee of better results, surely.

[suse]

there is a lot of facebook activity on my feed lately as well. And the person running their facebook page is still hard at it after 8pm at night I notice.

[patrick]

there is a lot of facebook activity on my feed lately as well. And the person running their facebook page is still hard at it after 8pm at night I notice.

Julie's next job CV
My last posisition was as Chief Marketing Manager for a long established Company.
I was so confident about the Company I purchased a million shares.
The Company went downhill soon after.

How likely is that?

[Meextr]

Julie's next job CV
My last posisition was as Chief Marketing Manager for a long established Company.
I was so confident about the Company I purchased a million shares.
The Company went downhill soon after.

How likely is that?

Sounds much better than I was so confident about the company I purchased $36,000 worth of shares.

[pak]

Heard a radio advert for Blis a couple of times today. Sounds good. Hopefully it helps to ramp up sales.

[ohpark0119]

Julie anne curphey bought $273.70 = 8294 shares. Not sure if she's buying them for as investment or part of her employement contract trying to hold the share price...

[Arthur]

She will have a limit order in, this will be part of her bigger order.

[ohpark0119]

She will have a limit order in, this will be part of her bigger order.

Ah you're right

[Leon]

i wonder how the sales and profitability is looking for the first 6 months of the new financial year!

[winner69]

i wonder how the sales and profitability is looking for the first 6 months of the new financial year!

Business as usual I suspect

[ohpark0119]

170k sold and down 0.2c. just panic sell thanks to Kim Jeong Eun?

[Meextr]

I'm starting to become a bit anti-probiotics.

[suse]

yeah its about time they put out some good news to keep the loyalists happy.

[steveb]

They won't release any news until their chief marketing officer has filled her boots around the 33 price

[ohpark0119]

They won't release any news until their chief marketing officer has filled her boots around the 33 price

it could be in here contract to buy x number of shares or $x amount of shares??

[Arthur]

Directors have strict windows on when they can buy or sell shares

[Golfer01]

You could assume there is no pending good news as an employee buying shares just prior to a positive announcement would be considered insider trading.... Though I'm picking 6-8 weeks will see something positive...;)

[ohpark0119]

i'm expecting something along the lines of "assure shareholders that we are on track to $7M revenue with $700k profit". Would be good to see the company make a profit in first half as well.

[patrick]

Heard a radio advert for Blis a couple of times today. Sounds good. Hopefully it helps to ramp up sales.

Heard nothing.
Was there any update this time last year.
What does Silence mean?

[pierre]

Heard nothing.
Was there any update this time last year.
What does Silence mean?


Last year, on 20 October, BLT released their interim unaudited result for the half year to 20 September. They were a little bit excited at making $0.43 million before tax.

If the current silence continues until the official 1/2 year result is announced around 20 November I think we can safely assume this year's result will not be brilliant and the sadness in the SP will continue.

[suse]

what are they doing in Dunedin. the share price is languishing, no news from anyone. I'm feeling pretty disappointed as the sales should be up with all the people I've recommended the product to and who have bought :)

[Leon]

No news is good news!! :)

[patrick]

A little more interest in past few days, hope its informed.

[hardt]

Has anyone noticed how Blis fork out 20% of revenues to the top 7 staff members and the board?

Pocketing such a huge portion of sales leaves a bit of a sour taste in my mouth ( a would be buyer of BLT )

... NPAT would be boosted quite dramatically FY18 by a slight cut back and performance incentives.

[suse]

blimmin heck, someone sold down at 2.5 cents today. this is not making me happy

[Benny1]

blimmin heck, someone sold down at 2.5 cents today. this is not making me happy

Me too! Did buy a few of these as a bit of a speculation......have been tracking down ever since!
Could do with some more to bring the average down...but is that just throwing more money away???
Has that feeling for me at the moment...

[pierre]

Me too! Did buy a few of these as a bit of a speculation......have been tracking down ever since!
Could do with some more to bring the average down...but is that just throwing more money away???
Has that feeling for me at the moment...

If BLT follows last year's pattern - and the company has had a reasonable start to the year - we might get an interim unaudited report on the 20th of October telling us they've made a few bucks for the half-year.

If there's no news announced that day then I suspect that those selling down below 3 cents might know more than we do.

Fingers crossed!

[Leftfield]

Volumes traded today not huge.....however still a concern. Waiting patiently until the company reports latest news.

[suse]

Blis had a stand at the Live Well festival in Auckland over the weekend. Lots of people around them and I saw quite a few people with bags wandering around which meant they had purchased. l topped up on some stock too as it was disoucnted for the show. I did jokingly say to them what the hell is going on with the share price, but clearly they werent the right people to be asking :) My facebook feed was filled with lots of info on them being at the show as well so at least they are making some headway on some social media.

[GR8DAY]

That was nothing more than a Nervous Nelly seller today. As far as I'm aware all is tracking well and it's business as usual. Depressed SP equals Time to Buy...basic sharemarket fundamentals....buy low sell high.

[Hectorplains]

That was nothing more than a Nervous Nelly seller today. As far as I'm aware all is tracking well and it's business as usual. Depressed SP equals Time to Buy...basic sharemarket fundamentals....buy low sell high.

Hmmm that Nelly has taken it back to its two year low. BLT is stuck in a year long downtrend. This may be the bottom...or not.

[pierre]

Hmmm that Nelly has taken it back to its two year low. BLT is stuck in a year long downtrend. This may be the bottom...or not.


Last year BLT issued an unaudited report of their first-half result on October 20 - mainly because it contained good news.

If there's no news tomorrow - it probably means bad news coming.

We'll probably all still be crying over Winnie's news today anyway - so silence from BLT wont really matter too much - lol.

[pierre]

Last year BLT issued an unaudited report of their first-half result on October 20 - mainly because it contained good news.

If there's no news tomorrow - it probably means bad news coming.

We'll probably all still be crying over Winnie's news today anyway - so silence from BLT wont really matter too much - lol.

Hmmmmm. No news today. Should we be nervous? Probably.

Probably the news is so good they need the long weekend to put the finishing touches to the release? Maybe.

Maybe there are too many beans to count and they couldn't finish the job by 4:30pm today. Possibly.

Possibly I'm a bit foolish expecting them to mirror last year's announcement timing anyway. Whatever.

Whatever - I'm going to enjoy the holiday weekend, bask in the glow from Jacinda's teeth and worry about BLT again on Tuesday.

Bit worried all the same - no news may not be good news.

[RGR367]

Hmmmmm. No news today. Should we be nervous? Probably.

Probably the news is so good they need the long weekend to put the finishing touches to the release? Maybe.

Maybe there are too many beans to count and they couldn't finish the job by 4:30pm today. Possibly.

Possibly I'm a bit foolish expecting them to mirror last year's announcement timing anyway. Whatever.

Whatever - I'm going to enjoy the holiday weekend, bask in the glow from Jacinda's teeth and worry about BLT again on Tuesday.

Bit worried all the same - no news may not be good news.

It's just the long weekend so nothing to it until we definitely learn something. But it got to be a better report as I'm more than halfway to my self imposed deadline holding on to this speculation :mad ;:

[winner69]

Hmm ....revenues down 46% for first half

But be ok for full year they say ..but not much improvement over prior year

All honky dory ...no worries

[Goldhunter]

"As a result of this information and known orders in October and November the


Board expects the Company's revenue for the year ended 31 March 2018 to be


similar to that of FY2017, with a small positive EBITDA and a net deficit."



46% drop in revenues compared to last year doesn't initially sound very positive but it does seem like there are a number of initiatives that they are pushing for to get the product out there and crack into some new markets. Hopefully they can keep to their projection of a positive EBITDA for the year end. How long do we hold on for? Would be nice if we had more frequent updates as to what they are up to!

[pierre]

Hmmmmm. No news today. Should we be nervous? Probably.

Probably the news is so good they need the long weekend to put the finishing touches to the release? Maybe.

Maybe there are too many beans to count and they couldn't finish the job by 4:30pm today. Possibly.

Possibly I'm a bit foolish expecting them to mirror last year's announcement timing anyway. Whatever.

Whatever - I'm going to enjoy the holiday weekend, bask in the glow from Jacinda's teeth and worry about BLT again on Tuesday.

Bit worried all the same - no news may not be good news.

The news is not good - as I expected.

[Bobby_Fischer]

It reads like so many announcements from the past, dating back to 2004 when I first invested - excuses, excuses, deja vu, deja vu ..... Apologies for being so negative - I genuinely thought they had turned a corner earlier this year and was toying with the idea of throwing a few thou. back into the pot (they owe me a lot). Lucky I stayed out, I guess.

[pedro.nz]

Well up until this morning I have supported this company almost from the beginning but unfortunately that was one poor announcement too many...

[Golfer01]

The news is not good - as I expected.

the only pleasing aspect of this report is that BLT only report to the market twice a year..... I don't think I could take them keeping the market any more informed..... Year in, year out they fail to deliver and always end their reports with a hopeful positive... They've got to do something different!! Their marketing strategies need to be reviewed..... Held shares in this company for 20 years and sick to death of the same old crap.... They should get on a plane and selling the story, benefits and the product!!!

[fiasco]

Question - has this ever been a takeover target, appears that a much better organisation at marketing would be ideal for pushing through barriers, and leveraging better network coverage.

[winner69]

Question - has this ever been a takeover target, appears that a much better organisation at marketing would be ideal for pushing through barriers, and leveraging better network coverage.

NO NO ....definitely NO

Why would anybody want to buy it anyway ...is what they have really special anyway

[Leftfield]

Unfortunately I picked BLT in the 2017 stock-picking competition to turn-around in the Oct/Nov update so now I'm going to struggle to retain my 37th position. :(

Not impressed by this update as was I hoping for better from new CEO and new marketing staff. Thankfully as my average holding cost was a tab under 1c at today's prices I'm ahead and now out. Will now watch from the sidelines. GLH.

[Sgt Pepper]

Unfortunately I picked BLT in the 2017 stock-picking competition to turn-around in the Oct/Nov update so now I'm going to struggle to retain my 37th position. :(

Not impressed by this update as was I hoping for better from new CEO and new marketing staff. Thankfully as my average holding cost was a tab under 1c at today's prices I'm ahead and now out. Will now watch from the sidelines. GLH.

It is sad that three companies which arrived on the scene around 2002 with so much promise Pacific Edge, Bliss Technologies and Botryzen did not thrive. Back then there was much optimism that they were potentially world class cutting edge biotech's with great potential. Alas Botyryzen went out of business years ago and both PEB and BLIS are struggling to gain traction. Why is it so hard for NZ companies to scale up and succeed. The Nordic countries and Israel can WHY CANT WE???.