PDA

View Full Version : BLT - Blis Technologies



Pages : [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

THEONE
06-08-2007, 11:22 AM
Hey anyone know what happened to the BLT thread?, I cant find
it anymore.
Thanks

Admin Note: In the meantime please continue with this new BLT thread. The old thread can be accessed here. OLD BLT THREAD (http://www.snitzforum.sharetrader.co.nz/topic.asp?TOPIC_ID=16457)

Bobby_Fischer
06-08-2007, 01:09 PM
T1, apparently some threads started prior to 2004 were not restored from the old site during the switchover. I raised this with Vince (new site admin) and the pucka BLT thread and some others are to be recovered shortly.

Chippie
06-08-2007, 08:22 PM
Good article in the Dom this morning.
http://www.stuff.co.nz/4154865a13.html

Glendoonie
07-08-2007, 09:55 AM
Choice, Chippie, thank you for the hyperlink.

Chippie
10-08-2007, 08:47 PM
Dr Spicer had good coverage on Campbell live tonight. It was a good plug for his Bad breath clinics and K-Force(K12). But it was an article from channel 7 in Aus so there was no mention that K-Force was made by a NZ co (BLT).

Steve
11-08-2007, 03:11 PM
Hey THEONE, edit the heading to Blis, not Bliss!

I'm surprised PT hasn't pulled you up on that...:rolleyes:

Oman
11-08-2007, 06:42 PM
The AGM powerpoint presentation is on the BLT site news page. As Bobby mentioned earlier the answers to many questions are all there ...and the strategic redirection of the company away from retail sales.

I assume the non-election of the German director is related to the mentioned 'business decision' in that market. Hopefully someone will pick up the Germany marketing later. Spanish sales efforts didn't look too good either.

Impatient
12-08-2007, 05:00 PM
That Campbell show was THE chance for Blis to make a name of itself; is nobody at Blis bothering with PR - which is FREE - at all? Very annoyed.

Scuffer
13-08-2007, 12:04 PM
Impatient I can understand your frustration and I'm of the same frame of mind, they need to get themselves out there in the full glow of the media and the bad breathed public but I also think little old NZ is not the place for a company like this to try to blaze the trail they have to get exposure in america europe and asia, only then will we see their products starting to sell at big enough numbers to have an effect on the sp.

Chippie
13-08-2007, 08:02 PM
I got the following response from Barry Richardson today

"I’m afraid the release caught us as we had no prior knowledge that it would occur. According to Geoff, neither did he as he was approached after the publicity in Australia. Short of an additional press release dedicated to this we cannot do much at the moment, other than to include it on our web site which we have done. However, we are pleased to see the progress that Geoff is making with his particular business model and certainly see the increase in sales."

It was good to note "Geoff is making with his particular business model and certainly see the increase in sales"

Chippie
13-08-2007, 08:04 PM
Impatient I can understand your frustration and I'm of the same frame of mind, they need to get themselves out there in the full glow of the media and the bad breathed public but I also think little old NZ is not the place for a company like this to try to blaze the trail they have to get exposure in america europe and asia, only then will we see their products starting to sell at big enough numbers to have an effect on the sp.
Scuffer, I agree. There is not a lot of value in spending marketing $ on little old NZ. There are bigger fish to fry (we hope).

Impatient
13-08-2007, 09:21 PM
At first glance it makes absolute sense, Chippie - there's a much bigger market elsewhere than NZ. But if Blis management couldn't even market the products in little old NZ properly, why would or should we trust them to be able to do that overseas; the world hasn't exactly been craving Blis for the last few years (or we would have seen better sales in Blis' previous overseas efforts).

Marketing (eg TV ads) in those large markets is excessively expensive compared to NZ, and leaving all that to overseas distributors means giving up complete control over your brand (plus you have no idea whether these distributors are doing anything anyway).

Blis had years and years to build a solid domestic business and form a basis for global expansion. Anything else is like taking the second step before the first. And as for their recent AGM preso - geez, haven't we all heard these great announcements before?! I do hope it's not gonna take another 5-6 years before we see some decent sales.

Chippie, are you working with Blis or how come you have your private hotline to Barry? ;-) Not surprised by your unshakeable support for their management then...

THEONE
14-08-2007, 11:20 AM
Hopefuly the rights issue will be annouced soon.
Maybe we will get some positive info then, to boost
the share price.

Chippie
14-08-2007, 11:21 AM
I just email Blt from the email address on their web site. Someone has always responded to my questions.

I can not disagree with your comments about the promises from BLT. I have been a holder for a number of years.

Before Barry joined I had written of my investment. But the two recent deals that Barry has signed up have given me renewed hope.

Still BLT is a spec share so high risk is the name of the game.

snake-eye
14-08-2007, 11:22 AM
BLIS Technologies Ltd (NZX: BLT), developer and manufacturer of BLIS K12, an advanced oral probiotic for the prevention of upper airways infection and the treatment of chronic bad breath, has recently announced that it been granted US patent for its latest strain of advanced oral probiotic called "MIA".

"MIA is very closely related to our existing K12 range of probiotic products, which is found in the New Zealand retail sector and was the active ingredient behind a novel Australian halitosis product that recently appeared on the TV3 programme, Campbell Live " according to BLIS, Chief Scientific Officer, Dr Chris Chilcott. "What makes MIA unique; however, is that this new strain has been shown to be very effective in protecting teeth from dental plaque, which is known to be a major contributor to tooth decay . We believe the new MIA probiotic can be used to suppress levels of Streptococcus mutans, the principal cause of dental plaques. Streptococcus mutans converts dietary refined sugar to lactic acid. The lactic acid, in turn, erodes the mineral in enamel and dentin, which weakens the tooth resulting in tooth decay.

Dr Chilcott indicated that dental caries or tooth decay, is a worldwide epidemic that affects the majority of populations in both industrialized and developing countries. According to the World Health Organization, tooth decay is the most prevalent infectious disease, affecting approximately 5 billion people.

"This represents a major milestone in our research and development programme, and sends a clear signal that BLIS is not a single product company" Dr Barry Richardson, BLIS CEO, said today, "we have been planning a solid platform of technology that addresses a broad array of potential application areas."

BLIS has indicated that they have already started early discussions with some major international companies around the commercial opportunities for their new probiotic, MIA; but would not be drawn on specific details at this early stage. BLIS Technologies Ltd did however recently announce that it had entered into "letter of intent" to evaluate and potentially develop global product and market opportunities based on BLIS's advanced probiotics technology, with Dutch food ingredient giant, DSM Nutritionals (formally Roche Vitamins). It is expected that this would also include opportunities for the new MIA strain.

emearg
15-08-2007, 01:16 PM
BLIS Technologies Ltd (NZX: BLT), developer and manufacturer of BLIS K12, an advanced oral probiotic for the prevention of upper airways infection and the treatment of chronic bad breath, has recently announced that it been granted US patent for its latest strain of advanced oral probiotic called "MIA".

"MIA is very closely related to our existing K12 range of probiotic products, which is found in the New Zealand retail sector and was the active ingredient behind a novel Australian halitosis product that recently appeared on the TV3 programme, Campbell Live " according to BLIS, Chief Scientific Officer, Dr Chris Chilcott. "What makes MIA unique; however, is that this new strain has been shown to be very effective in protecting teeth from dental plaque, which is known to be a major contributor to tooth decay . We believe the new MIA probiotic can be used to suppress levels of Streptococcus mutans, the principal cause of dental plaques. Streptococcus mutans converts dietary refined sugar to lactic acid. The lactic acid, in turn, erodes the mineral in enamel and dentin, which weakens the tooth resulting in tooth decay.

Dr Chilcott indicated that dental caries or tooth decay, is a worldwide epidemic that affects the majority of populations in both industrialized and developing countries. According to the World Health Organization, tooth decay is the most prevalent infectious disease, affecting approximately 5 billion people.

"This represents a major milestone in our research and development programme, and sends a clear signal that BLIS is not a single product company" Dr Barry Richardson, BLIS CEO, said today, "we have been planning a solid platform of technology that addresses a broad array of potential application areas."

BLIS has indicated that they have already started early discussions with some major international companies around the commercial opportunities for their new probiotic, MIA; but would not be drawn on specific details at this early stage. BLIS Technologies Ltd did however recently announce that it had entered into "letter of intent" to evaluate and potentially develop global product and market opportunities based on BLIS's advanced probiotics technology, with Dutch food ingredient giant, DSM Nutritionals (formally Roche Vitamins). It is expected that this would also include opportunities for the new MIA strain.

This announcement was made today (15 Aug, 2007 @ 10:33) to the NZX and yet you posted it yesterday? I read your post yesterday and searched the net a little and couldn't find it.

I am curious to know how you managed to post the same announcement a day early??

THEONE
15-08-2007, 03:47 PM
I found the news on google news yesterday.
Snake eyes posted it after the news was released.
But was pretty quick though.

Its great to see the improved communication from Blis!

snake-eye
15-08-2007, 04:04 PM
Pure fluke on my part I assure you. Normally I read reports well after the share price horse has bolted. I've been looking at BLT for some time.

Regards,

neopole
15-08-2007, 05:31 PM
after reading that report, this news could be the biggest thing that any NZ company has ever achived........ if they manage to achive it!!!
as it mentions, the tooth decay patent could help people all over the world for many many years to come.
the only thing i worry about is, if this takes off, some company could snap up blis for a song and leave us shareholders with a meger cash out.
and talking of shareholders, most of the long term supporters of this company have had several years of watching their investments evaporate, will they hold on longer? will they dish out more cash in the issue of new shares? or will, at the cusp of a potentially massive turn around abandon the company to overseas interests, as seems to be the NZ way.
will we be forever renouned as the land of the pineapple lump?

snake-eye
15-08-2007, 05:50 PM
Please don't depresss me! As a long time holder and ever-the-optimist endlessly googling up K12 for snippets of news and sales reports I am heartened by developments. But, I do share your concerns.

THEONE
16-08-2007, 11:10 AM
Hey Snake eye me too.
I frequently google the news and look at the shareprice, when
I should be working.

I just found this in the Press:

US PATENT FOR BLIS PLAQUE

Blis Technologies continues to make headway with its bad breath and anti-tooth decay products _ signing a United States patent on the plaque protection probiotic.


Chief executive Barry Richardson said Blis was already well known as the manufacturer of Blis K12, an oral probiotic for the treatment of chronic bad breath and infections.

But the South Island-based firm wanted to affirm it was developing a wider range of products including an advanced oral probiotic called MIA, effective in protecting teeth from dental plaque.

Blis had just been granted a US patent for MIA, and commercialisation of the product was about two years away.

"This represents a major milestone in our research and development programme ... Blis is not a single product company," Richardson said.

"Now we've had that patent issued, we're in position to be able to talk to international and US players about licensing opportunities and product development opportunities with that particular strain."

Blis chief scientific officer Chris Chilcott said MIA enabled important protection against plaque. "We believe the new MIA probiotic can be used to suppress levels of Streptococcus mutans, the principal cause of dental plaques."

The company had yet to emphasise its work on its skincare and body odour reduction products. "As we get (various) patents granted it broadens our base in terms of commercialisation."

Meanwhile, Blis' existing K12 range of probiotic products had gained important media coverage in both Australia on a current affairs programme and on TV3's Campbell Live show.

Blis shares rose 0.6c to close at 9.9c yesterday.

THEONE
21-08-2007, 04:28 PM
Wonder when the notice about rights issue will come out,
In the powerpoint they said EGM at end of month.
Anyone got any News?

ratkin
21-08-2007, 04:54 PM
They will be claiming they have found a cure for baldness next.

neopole
21-08-2007, 05:10 PM
funny you should say that, but a big cause of baldness is bacteria in the hair folicals, so maybe they will fix that as well.
not that NZ share holders care...........
this company has soo much potential, but i think i will have lost my teeth, lost my hair, and my sence of smell before the SP rises to any great high.

Bobby_Fischer
22-08-2007, 09:32 AM
I have been wondering the very same thing T1. Blis will be dependent on securing an underwriting agreement for their rights issue, and the recent market turmoil may well have put their ability to do that at risk.

THEONE
22-08-2007, 12:31 PM
Hi Bobby what do you think of Blis at the moment and the recent announcements?
I really apreciate your Balanced point of view.
I have been following your posts for a few years you are
a true Blis guru.
What guess would you pick at the share price in 3 years?
Thanks

STRAT
22-08-2007, 06:47 PM
funny you should say that, but a big cause of baldness is bacteria in the hair folicals,LOL. Proof that old people dont wash eh? or is it that old men stop washing their heads only to focus more on their backs :D:D

Bobby_Fischer
22-08-2007, 08:58 PM
Thanks for the kind words T1. I like this BB which I think mostly has good quality, thoughtful posters. I try to contribute what I can, so that hopefully I "repay" the board for the useful info it brings me elsewhere.

I'm sticking with BLT for the moment, awaiting the rights issue documentation. I think they have more chance of success under the new business plan than ever they had under the old CEO, who seemed only able to think small (and that was all he achieved). However, everything hinges on the rights issue. If it fails that's a vote of no confidence in the new plan, the new CEO will leave and the directors will need to effectively put the company on the block in the hope of realising something for shareholders from the IP - that's if they have enough working capital to keep it running in the meantime. They have been spectacularly unsuccessful in attracting a cornerstone shareholder so far, so I imagine it would be curtains if the rights issue fails.

I would find it difficult to support the rights issue myself, based on the currently available information, as the path to profitability is not sufficiently tangible at present. Blis have had products in the market place for 5-6 years now and haven't made a penny from them. How is that going to change anytime soon? We have been told countless times that breakeven is expected in the next financial year. To get any more money from shareholders, they will now need to demonstrate that their financial projections are credible. It would also help confidence considerably if the (now) largest shareholder (Otago Uni) stated that they were prepared to support the rights issue (they didn't, notably, support the last one) - BLT certainly won't be getting any more cash from the old Southern Capital boys - it is Otago Uni. science, after all.

No clue at all about the SP in 3 years. I once made a projection here on the back of the deal with Dr Halitosis in the US. This proved to be spectaculary wrong. Once bittten twice shy.

Onthemoney
22-08-2007, 09:23 PM
Be very careful since Howard choked on his chip a lot of these stocks have no direction....

Bobby_Fischer
27-08-2007, 02:31 PM
Hmmmm. A biggish buy (250K) and up 1 cent, with a rights issue around the corner. Someone know something (not me I hasten to add)?

Scuffer
27-08-2007, 02:38 PM
Quite a bit of media coverage on bad breath at the moment the Yanks have just had some conference on it, that could be the reason a few have been changing hands.

Maggie
27-08-2007, 03:04 PM
I understood from the AGM that the rights issue was for growing the company i.e new premises, and not to keep the company going. I'm not really up with all of this stuff though! Good to see the sp up a little though and I really do hope that someone knows something we don't!

Scuffer
27-08-2007, 03:07 PM
If some one knew something the sp would be heading up a little more than it has.

Oman
27-08-2007, 05:37 PM
Most of the trades today went at 15:18 hrs and the remaining seller numbers are c.300k. The buyers numbers look unchanged since last week, so I'd say it was just one buyer with some spare cash taking 260k worth ...a punt maybe?

For the right issue ...assuming BLT get an underwriter ...I'm picking 1:3 at 9cps.

THEONE
28-08-2007, 12:50 PM
I wonder whats happening with the rights issue,
I would have expected some announcement by now.
Is this good? bad?

Maybe this seems naive, but do they need an underwriter?
Cant they just get what they are given?

True the sharemarket hasnt been that great the last few weeks,
but surely they would be able to raise 3 million?

Hopefuly no news is good and their have been other developments, but this is probably just wishful thinking

Oman
28-08-2007, 01:40 PM
Like you Theone I thought $3m is a relatively minor sum and even Barry could underwrite if he wanted to ...or simple do as you say and take what they get. BLT has a track record of being 'tight lipped' until the last moment ...perhaps understandably given the sort of business they are in.

THEONE
28-08-2007, 04:18 PM
Hey Oman, I posted a while back about DSM and how they are looking for acquisitions.
It looks as though they have are going to do a r&D with Blis.

Surely if DSM have enough faith in the science to do R & D, it would also be worth a couple of million to take a decent shareholding?

Instead of paying Blis millions in licensing fees if the research is succesful?

I hold heaps of Blis, maybe im trying to find posiives so i can sleep at night, ha ha

Can't wiat for next annoucment!

Oman
28-08-2007, 09:20 PM
Ummm ...the next announcement? Isn't that when the company tries to talk up the SP with good news and then presents the bill ...a sweetner followed by a kick in the wallet? ...I'll need to think about that.

Oman
31-08-2007, 03:59 PM
Looks like BLT has missed the Aug rights issue announcement. That could mean they are delaying until some impending good news is released ...or they've hit a problem ...or maybe it's just taking a bit longer than they expected? Maybe next week something will be said?

SP is holding at 10cps so a small number of buyers are positive ...else it would be nearer to 8cps ...but still heaps of hopeful sellers who are less impressed with promises of a bright future.

Scuffer
31-08-2007, 04:14 PM
I would say they are hoping for a better sp and more interested parties to sit up and take notice this area has a lot of media attention at the moment.

neopole
31-08-2007, 05:19 PM
maybe DSM is in discussion to buy into BLT and therefore negate the issue of a share placement to the shareholders?

Oman
31-08-2007, 06:09 PM
That's an interesting thought Neopole. I just re-read the last annual report ...

"BLIS Technologies requires new capital to further progress the new strategy. As previously stated, the Company is seeking an international partner to take up equity in BLIS. Assuming that the arrangements for such a placement are secured, the Directors will then seek shareholder approval for the transaction.

The Directors will also seek approval from shareholders in August for a rights issue to existing shareholders..."

I hadn't noticed the confident tone of that 3rd sentence ...and the rights issue sounds like an add-on comment rather than the main thrust. The main point is the expected corner-stone shareholder which they anticipate as being sooner than later.

I'd better join that buyer's queue before the rush!

THEONE
04-09-2007, 07:31 AM
Assuming their is a rights issue, Any shareholders here
going to take up their rights?

I probably will, but it depends on the deal.
It would be good if their were some options for say BLT in
3 years time, that would make it interesting.

If the Nestle deal and DSM work.

Scuffer
04-09-2007, 03:27 PM
If Nestle and DSM are really comitted they will be making sure they have got a good deal now before BLT find themselves in a position to not need them financially, the idea of going to the shareholders for more money makes me think that these companies are not exactly falling over to get in, but this could be a good thing for existing shareholders BLT maybe holding their cards close to their chest and not giving too much away too early, lets hope it is the latter.

THEONE
07-09-2007, 04:16 PM
Hi Bobby whats your view on
the delay with the rights issue?

Bobby_Fischer
08-09-2007, 03:03 PM
Not sure what to make of it. On the one hand, the new CEO would be only too well aware of BLIS' past propensity for giving and then missing self imposed deadlines. He would not have given a date he did not think he could stick to, due to impact on credibility. On the other hand, shareholders are never in a hurry to be tapped for cash, so maybe won't hold the delay against him. Could it be that at the time the issue was announced an underwriting arrangement was in place, but has now fallen over due to recent market turmoil and apparently reduced appetite for risk?

To put things in perspective, we are only a few days into September, maybe nothing too serious to worry about at this stage. Have you emailed BLIS to ask them about the delay T1?

Oman
08-09-2007, 04:56 PM
If BLT is in fact in disussions with a serious stakeholder (as hinted at several times by BLT) ...remembering that such talks may take 6-9 months ...then the idea of a rights issue to build new offices or lab capacity etc. may be under review. Stakeholders often want a strong say in business decisions.

THEONE
10-09-2007, 04:27 PM
Hi Bobby, i havent contacted blis.
Maybe wait a couple of weeks.
Actualy I am looking to buy some more especialy
at todays prices.

Oman
15-09-2007, 03:39 PM
I thought the NZX has controls in place to keep us informed ...a level playing field etc?

BLT stated they have a rights issue to be announced in Aug ...followed by absolute silence. They ought to give an apology ...and provide the NZX share market with a reason for that delay.

These guys seem to forget they're a NZX public listed company.

barney
21-09-2007, 07:29 AM
According to todays Otago Daily Times Blis are set to raise $3m in new capital before the end of the year, with a shareholders meeting set down for early October.
They have also agreed to broarden their research agreement with Nestle into other probiotics.
No doubt somebody more computer literate than I can post the article.

Oman
21-09-2007, 01:38 PM
So the good news is here ...with the rights announcement as expected even if somewhat delayed. The end of any year isn't the best time to raise cash, but $3m isn't much so it should be okay.

Scuffer
21-09-2007, 02:07 PM
3 mil should be no probs with all the media coverage on halitosis and the deals with the multinationals I would expect foreign money is starting to look at Blis now and ya average kiwi will be starting to get the boot out the door. The americans are starting to look into the causes for bad breath rather than trying to mask the problem.
The only thing I find perturbing is that the multinationals are not trying to get more of a finger in the pie and the company are coming to the shareholders in the way of options.

Bobby_Fischer
21-09-2007, 03:32 PM
The rights announcement says BLIS "intends to raise up to $3 million". Does the term "up to" imply that this issue will not be underwritten? I think it does.

Bobby_Fischer
22-09-2007, 09:37 AM
Here's the article from yesterday's ODT:

Blis Technologies set to raise further $3 million

By SIMON HARTLEY Business Reporter Friday, 21st September 2007

DUNEDIN biotechnology company Blis Technologies intends raising another $3 million equity before the end of the year and is expanding its research agreement with giant international corporation Nestle.

Blis is the developer and manufacturer of Blis K12, an oral probiotic for the prevention of upper respiratory infection and the treatment of chronic bad breath, but has other research under way into new products to prevent and treat bacterial infections, including tooth and gum disease, ear and throat infections and also applications for skin care, women’s health and veterinary medicine.

A shareholder meeting will be scheduled for early October seeking approval to raise $3 million before the end of the year, to fund several items including expansion of its Dunedin facilities and boost its activities in selected international markets, chief executive Barry Richardson said in a statement yesterday. The equity raised would also be used to file additional patent applications, assist with applications for international regulatory approval and increase product development capability, Dr Richardson said.

In late March, Blis announced Nestle would provide ‘‘significant’’ funding over three years to develop probiotics targeting upper respiratory infections in infants. Under the agreement, Nestle Nutrition, an autonomous unit within Nestle SA, would fund Blis research to develop probiotics from natural antibacterial peptides to boost immune systems in infants.

A month later, Blis announced it had signed a distribution and marketing agreement with Auckland company Pharmabroker Sales Ltd, which represents brands in New Zealand such as Colgate Oral Care, Grans Remedy, Zrytec, Buccaline and No Jet Lag.

Dr Richardson said yesterday Nestle and Blis had recently agreed to broaden their research into other probiotics, other than Blis K12, which had formed the basis of the initial agreement. ‘‘Nestle Nutrition will commercialise the probiotics under licence as part of its range of infant nutrition products.’’

In late May Blis, for the second consecutive year, announced a loss of almost $1 million for its full year trading to March having posted a loss of $1.1 million in 2006, followed by a loss of $964,000 for the financial year.

At its annual meeting in early August, it was first proposed by its directors that Blis seek another rights issue to raise a further $3 million. However, some shareholders were anxious the company continued to make a loss and that after six years it had reported losses of $9.6 million.

At the time, chairman Peter Fennessy said the goal this financial year was to break even, a target he admitted would be difficult to achieve; to have positive cashflow and to triple revenue from $690,000 in 2006-07 to $2 million this financial year.

scamper
24-09-2007, 10:59 AM
i've had similar thoughts, columbus! i was particularly disappointed that they chose a probiotic for their first big product. kiwi young adults and middle-aged aren't really into prevention -- presume we're indestructible or something. it's really only children and elderly who receive/buy into preventive medicine.

bobby, my 'hope springs eternal' read of the 'intention to raise up to $3 million', was that it might not be necessary if nestles gets a bit more enthusiastic...
love my rosy-tinted specs. cheers.

Oman
04-10-2007, 12:30 PM
SP sagging to 9cps again. That will cap the upper limit of the rights issue.

Has anyone else wondered why BLT needs money for a pilot manufacturing plant in Dunedin? What's wrong with the present Aloron operation ...and wasn't BLT moving away from manufacturing? So why the change?

If Nestle is going to do the manufacturing after development of the area of their interest then why the need for the pilot plant? ...something going on down South ...maybe a new and better manufacturing machine they want to develop.

Now there's a thought. What if BLT starts to licence manufacturing knowhow rather than pills!

Bobby_Fischer
19-10-2007, 09:24 AM
BLIS Technologies Limited
Notice of Special Meeting

Notice is hereby given that a Special Meeting of shareholders of BLIS Technologies Limited ("the Company") will be held at the Centre for Innovation, St David Street, Dunedin at 11.00 am on Thursday, 8 November 2007.
Business
The business of the meeting will be to consider:
a. the Board's proposal to conduct a renounceable rights issue by the Company for up to 44,801,079 new ordinary shares to holders of existing ordinary shares in the Company on a pro-rata basis at a rate of 2 additional shares for every 5 existing shares at an issue price of 7.5 cents. This transaction, as outlined, is referred to as the "Rights Issue"; and
b. providing authorisation to the Board, to allot (before or after the Rights Issue) up to 19.99% of the ordinary shares on issue in the Company to one or more strategic cornerstone shareholders subject to the provisions of the Listing Rules. This transaction, as outlined, is referred to as the "Share Allotment".
The capital raised pursuant to the Rights Issue, and any further capital raised under the Share Allotment, will enable the Company to consolidate and further expand its product range, improve its facilities, and further pursue the commercialisation of its products in selected international markets.
The Board believes that faster progress in the commercialisation of the Company's products in international markets can be made by seeking partners with global marketing capabilities. In identifying a cornerstone shareholder(s), the Board will be looking for a strategic partner or partners who can provide assistance to the Company in relation to its ongoing capital, marketing, and regulatory issues and the distribution of its products
A more detailed definition and explanation of the components of these transactions is set out in the Explanatory Notes. The Explanatory Notes also explain the rationale for the Rights Issue and Share Allotment and the implications of these transactions for the Company.
Shareholders should also refer to the annual financial results for the Company for the period ending 31 March 2007 which are set out the 2007 Annual Report and to the presentations by the Chairman and the Chief Executive at the Company's Annual General Meeting on 1 August 2007 (refer to the Company's website for details www.blis.co.nz).
The necessary resolutions are set out below.
Capitalised terms which are frequently used are defined in the Definition section at the end of this Notice. Others are defined in the context in which they are used.
Resolutions
1 Rights Issue
To consider, and if thought fit, to pass the following special resolution:
"That the shareholders authorise for the purposes of section 129 of the Companies Act (and Listing Rule 9.1.1 if and to the extent necessary), the Board to proceed with the Rights Issue ("Rights Issue" being defined in the Explanatory Notes to the Notice of Special Meeting dated 15 October 2007)."
See Explanatory Notes

2 Share Allotment
To consider, and if thought fit, to pass the following special resolution:
"That the shareholders authorise for the purposes of Listing Rule 7.3.1(a) (and Listing Rule 9.1.1 and section 129 of the Companies Act, if and to the extent necessary) the Board to proceed (before or after the Rights Issue) with the Share Allotment, being the allotment of up to 19.99% of the issued share capital of the Company to a strategic partner or partners (being neither a Director or any Related Party) within 12 months of the approval of this resolution at a price per share which represents no more than a 5% discount to the Issue Price payable per New Share under the Rights Issue. ("Share Allotment" being defined in more detail in the Explanatory Notes to the Notice of Special Meeting dated 15 October 2007)."
See Explanatory Notes

Proxies
All shareholders are entitled to attend and vote at the meeting or to appoint a proxy to attend and vote in their place. A proxy need not be a shareholder of the Company. Individuals who are disqualified from voting on any resolution are unable to vote on a discretionary proxy.

Enclosed with this Notice of Special Meeting is a proxy form. For the appointment of a proxy to be valid, the form must be deposited at BLIS Technologies Limited, Level 1, Centre for Innovation, 87 St. David Street, Dunedin or sent by facsimile to (03) 479 8954 no later than 48 hours before the start of the meeting being no later than 11.00 am on Tuesday, 6 November 2007. Postal voting is not permitted.
All of the directors offer themselves as proxy to shareholders and, subject to the restriction that they cannot vote a discretionary proxy if they themselves are disqualified from voting, will vote in favour of all of the resolutions put to the meeting unless otherwise directed.

Corporate representatives
A corporation which is a shareholder may appoint a person to attend the meeting on its behalf in the same manner as that in which it could appoint a proxy. The form to appoint a proxy/corporate representative must be signed on behalf of the company by a person acting under the company's express or implied authority.
Requisite majorities and voting

Both special resolutions require the affirmative vote of a 75% majority of those voting in person or by proxy in order for them to be passed.
If either special resolution of shareholders is passed, any shareholder who has cast all of the votes attached to their shares (and having the same beneficial owner) against either resolution, is entitled to require the Company to purchase those shares in accordance with section 111 of the Companies Act. The Company must purchase those shares unless it obtains relief under section 114 of the Companies Act. The Company would seek such relief if as a consequence of the exercise of such rights, the Board formed the view that any of the grounds set out in section 114 existed.
By order of the board of directors



P. F. Fennessy
Chairman
15 October 2007

Bobby_Fischer
19-10-2007, 09:54 AM
What I want to know is: has a cornerstone shareholder been identified, or is the part "b" of this transaction simply designed to encourage participation in the rights issue? Cynical, I know, but it comes from being a BLIS shareholder of long standing, who has heard all this talk of partnerships many times before.

THEONE
19-10-2007, 04:27 PM
Hey bobby what do you reckon about the option to
alot 20% of company at 7.125 cents?
Opens the door wide open for Nestle or DSM which i think is
a good thng.
Surely they would jump at the chance to buy such a big parcel at such a low price?
DSM is looking for acquistitions like blis apparently.
Maybe thats why they have been dragging it out using the rights issue as bait. Wishfull thinking maybe.

Barry holds around 4 million shares which is alot of motivation for him, perhaps the rights issue is another way for him to get more?
Looks as though he is a very clever strategic thinker.
Apparently has done well in the past at Tatua and Westland.

Hopefully something will happen before the end of the year.
Should hopefuly do well over the next 5 years though.
I have bet the farm on this one!

Oman
19-10-2007, 04:54 PM
Bobby, there's a possible answer to your question in item #2 '...share Allotment ...the Board to proceed (before or after the Rights Issue) with the Share Allotment'.

The word "before" may be a hint of negotiations already in progress? Maybe more than one party involved too?

Scuffer
19-10-2007, 07:04 PM
Wishful thinking but maybe I'm the eternal cynic they definitely need some way forward or they are dead ducks and all that happens is the sp gets lower to the zero.

neopole
20-10-2007, 12:21 AM
there IS value in this company, and most of the value has been purchaced and paid for by the long term investor, but sadly, those investors have had negative returns while the company has hemoraged in the last 4 years. Granted...... its a risk that was clearly stated at the outset of this company, but, longterm investors have paid a heavy price, and the new blood that is possibly coming on board soon will bleed the long term investor even more.
thats the negative side,
the positive side is that there seems to a bluechip company wishing to take a cornerstone postion..... even though its at a huge discount, but none the less a positive stand.... so... all in all keep on averaging down and wait for that pot of gold.
it will happen, and when it does, this co will sky rocket to the moon.
i just hope im still young enough to smell the roses when it happens!

Scuffer
20-10-2007, 04:27 PM
Hope your right always thought they had a great product but the marketing was dead, my mate reckons he saw an advert for Blis on tv but i've never seen it.It will end up being a roaring success eventually but in someone elses pocket overseas like normal in NZ.

Bobby_Fischer
24-10-2007, 09:29 AM
Received the notice of meeting yesterday. As suspected it is not to be an underwritten rights issue, but there is a (biggish) hint that DSM Nutritionals may be interested in becoming an equity partner under the Share Allotment proposal. This would do wonders for BLIS if they can pull it off and almost guarantee the success of the rights issue if it is announced beforehand. There also seem to be several more R&D agreements in the pipeline, and an impending (early 2008) product launch with a "large" US company. If the RI is approved, then more details of these activities should be forthcoming, because something significant needs to happen, I feel, if it is to be a success.

THEONE
29-10-2007, 12:52 PM
Anyone one else following blis?
I am really suprised by the lack of interest.

There was alot of interesting info in
the rights issue document.
But the shareprice drops.
This share i think is worth a closer look at.
This share has done poorly in the past, but
with the new CEO looks to be progressing well.

Anyone else have any opinions on the rights issue document?

Oman
29-10-2007, 01:47 PM
Theone, someone agrees with you. The SP just jumped from 7.8 to 8.7 ...and on a Monday trade.

The documents shareholders received has some positives and heaps of future wonders but the reality is that BLT will go under if they don't receive shareholder approval for the RI. That's the reality ...the rest is a wishlist with perhaps a good chance of becoming real over time ...2 years say.

For me the question is still ...will they survive long enough to make a profit or will BLT enter the history books?

THEONE
29-10-2007, 04:12 PM
Thanks for the reply oman.
The approval of the rights and issue,
i think is almost certain.

The only problem is whether anyone
will want to take up the rights with the share price
at current levels.
Looks like Blis is keeping quiet on alot of the details.

Barry Richardson has around $300,000 dollars worth of shares.
He has a big incentive to make blis succed.

When reading the rights issue document you can
see he has been very busy .

He has a great track record and has made alot of progess in
the past year.

I have confidence he will be able to commercialise blis products.

My guess is they will release some "juicy" information
before rights issue close.

With the issue closing early december surely they would be
able to disclose the large company to start distributing
in early 2008?

Worst case scenarion I think is a cornerstone shareholder will
buy 19.99 %. at these prices surely DSM would jump at the chance.

Admitedly if the dont get funds from the rights or a cornerstone shareholder
they would be somewhat stuffed. But with all the positive developments they
should be able to able to raise the funds.

I think this share has huge upside potential as a 2 year plus hold,
with very little downside.

If DSM bought blis i wonder what would happen to the share price?
Probably not alot, i guess.
No one seems interested.

I have been following this share for years and understand peoples frustrations.

I was suprised how the share price didnt increase with the rights issue documents.

To me the company looks to be "turning the corner"

Surely with all the developments at least 1 of them will be a winner!

Oman
29-10-2007, 08:34 PM
So Theone we have two significant milestones to watch for:

1) a successful RI, and
2) a cornerstone shareholder.

"...I think this share has huge upside potential as a 2 year plus hold,
with very little downside."

Ummm. The first point is agreed but there is little downside because BLT was once a $1.20 share now sitting at about 8 cps (up from 5 cps a few months ago).

"...I was surprised how the share price didn't increase with the rights issue documents."

I wasn't surprised. I expected the SP to drop to 7.6cps ...slightly above the RI price. How much above is an indicator of what the market thinks of BLT business potential and my opinion is the business is very risky currently ...and the market abhors financial risk. A bit of substantial good news will be helpful ...and as noted above, Barry is well aware of what's needed.

"...To me the company looks to be "turning the corner" Ummm, ...hope the turn is upwards.

I'll do my bit to help them reach one milestone ...got a proxy form to fax!


:)

Chippie
30-10-2007, 09:52 AM
I wish Barry Richardson was on board a few years ago. What he has done this year is leaps and bounds ahead of anything in the past.

I have too many of BLT shares and was planning to cut my loses and sell half of them. But after reading the recent information I might stick with BLT.

If the products/ R&D is confirmed, I can not see how DSM or someone similar will not buy out the company. The NZ market will never fully value a share like BLT so it will always be available at a discount.

Bobby_Fischer
30-10-2007, 10:16 AM
Amen re. your remark about Barry, Chippie. If ever there was any doubt that capabilities at the top really matter to a company, and that the fat CEO salary packages the media love to generate controversy over, are often deserved (though not in Kelvin's case!) ....

My hope is that the NZ market will fully value BLT one day (assuming BLT stays afloat long enough to realise its potential, of course). There are now a few biggish holders on the BLT register and it may be a struggle for DSM, etc to make it to 90% - doubt Otago Uni would be a seller (am very intersted to see if it supports the rights issue).

THEONE
30-10-2007, 12:34 PM
It would be great to see Barry taking up his rights.
That would be a huge vote of confidence from someone that knows.

If Otago Uni did that would be great news, as they wouldnt be usual
subscribers.
They would only subscribe if the light at the end of the tunnel
was shinnig bright.

The amounts however for the rights are quite alot eg Barry Richardson around $120,000!
So understandable if they dont subscribe for all.

I have wonder about that as well whether Otago Uni would sell,
maybe if the purchaser could sign some research and development with the Uni ?

It will be an interesting few months, i think the odds are pretty high that they will try and spike the share price before rights issue closes!

Oman
04-11-2007, 01:46 AM
The interim report is due about 23rd Nov 2007 so that'll be the time for Barry to do another 'progress positives' presentation ...and lift the SP maybe?

Chippie
05-11-2007, 08:24 PM
I Just got an email from Dr Spicer / Breeze Care

Have a look at the Oct 2007 media release (article in the Melbourne age). It looks like he is doing okay on the back of K12.


http://www.breezecare.com.au/index.html

THEONE
07-11-2007, 12:46 PM
Very interesting DSM just invested in another Probiotics company
Hopefuly they are in the investing mood and want to buy 19% of Blis!
http://www.abnnewswire.net/press/en/44156/DSM.html

KentBrockman
07-11-2007, 08:09 PM
Very interesting DSM just invested in another Probiotics company
Hopefuly they are in the investing mood and want to buy 19% of Blis!
http://www.abnnewswire.net/press/en/44156/DSM.html

Another mention of Blis:

http://www.nutraingredients.com/news/ng.asp?n=81126-nestle-probiotics-paediatrics

Bobby_Fischer
08-11-2007, 12:13 PM
Meeting over. Rights issue to proceed. Upbeat messages from the CEO:

BLT
08/11/2007
MEETING

REL: 1259 HRS BLIS Technologies Limited

MEETING: BLT: BLIS Technologies Ltd remains on track and optimistic

From: BLIS Technologies Ltd (NZX:BLT)

MediaPak: NationalPak; Community Newspapers North and South
Island

For Immediate Release

BLIS Technologies Ltd remains on track and optimistic

BLIS Technologies Ltd (NZX: BLT), developers and manufacturers of advanced
oral probiotics announced today that the company had presented two
resolutions to a special meeting of shareholders, which were voted on and
passed. The resolutions included 1) a proposal to conduct a renounceable
rights issue for up to 44,801,079 new ordinary shares. This issue will be
provided to holders of existing ordinary shares, on a pro-rata basis at a
rate of 2 additional shares for every 5 existing shares, at an issue price of
7.5 cents, and 2) to provide authorisation to the Board to allocate up to
19.99% of the ordinary shares to one or more strategic cornerstone
shareholders subject to the provisions of the Listing Rules. In addition to
passing these resolutions, the Company also indicated it was pleased with the
progress being made and remains on track with the commercial developments
that it announced at its Annual General Meeting on 1Aug 2007. The Company
also reaffirmed the expectation that it will achieve the financial targets,
which it had forecast through to the end of the fiscal year.

The Company remains firmly committed to its retail brand strategy in New
Zealand, while at the same time it has been quickly developing its global
branded ingredient strategy, which was described at the AGM. "We have been
seeking commercial partnerships with companies that have one of the top three
brands in their respective markets." According to CEO, Dr Barry Richardson,
"So far the strategy has been working for us. We have progressed our
commercial relationship with Nestle Nutrition throughout this year in the
infant formula market and are well advanced with at least two other leading
global brand manufacturers in very distinct and unrelated industries".

"The response from the market to date is that our commercial partners seem
particularly interested in the technology we have to offer," Richardson
stated. "There is a growing body of international evidence suggesting a link
between poor oral health and the increased risk of other diseases such as
cardiovascular disease. Since BLIS's technology platform is about the
maintenance of oral, throat and upper respiratory tract health, this is a
reason why we could expect a reasonable proportion of revenue from research
contracts in the coming year"

In response as to why it has taken BLIS Technologies Ltd time to gain
traction in the international market, Richardson said, "Of course we would
always like to move faster, but our potential partners are very large and
they typically spend several million dollars on product development and
testing prior to commercial rollout. By comparison, New Zealand has been a
relatively easy market to build a base of sales, but because of regulatory
differences in all our major markets, it is not a model that can be easily
replicated off-shore" Richardson said. "This process has constrained the
speed at which we have been able to turn BLIS Technologies Ltd around, but I
am happy to report that:
a) Through a strong commercial partnership, we anticipate the test marketing
of BLIS K12 lozenges in China before the end of the fiscal year, while
concurrently completing regulatory approval.
b) We expect to launch in the Irish market in 2008 through a
major distributor and it is anticipated that sales could later extend to
other European countries. A major advantage to us of this relationship is
that having regulatory approval for our products firstly in Germany and now
in Ireland, is that we might anticipate easier access to the broader EU
market.
c) We have spent a great deal of effort in the Japanese,
Korean and Taiwanese markets seeking appropriate business partnerships. The
company has been engaged in recent early stage discussions with a Korean
pharmaceutical company and is optimistic that if negotiations are successful,
it might anticipate early market sales in Korea. The speed of Korean market
sales is also subject to the completion of regulatory approvals.
d) With international growth we need to provide logistical
support in-market and technical assistance for our key multinational
customers. This is a major component of our potential relationship with the
Dutch ingredient supply company, DSM Nutritionals. DSM and BLIS are now
negotiating a Marketing agreement, instead of the R&D contract proposed
earlier, targeting sales in 2008. DSM is expected to initially focus on
nutrition and food-based opportunities. Further, it is anticipated that DSM
and BLIS Technologies will later undertake a research contract to expand into
other product applications.

Richardson was asked why the company was not pursuing the same retail product
strategy internationally, as the company had done in New Zealand. He replied,
"we have undertaken a detailed investigation of the US market and concluded
that while the company could scale up its production to meet demand, the
magnitude of the marketing and distribution cost was simply beyond its
resources. Being New Zealand-made didn't help us either, as our products are
considered "technical" in nature and our suppliers and retailers would have
needed immediate and ongoing support and servicing, which would be
challenging, without incurring the significant cost of setting up offices in
the US."

"The logical approach for us was to partner with a company with specialist
marketing and distribution that would facilitate access to the top brands
within the categories of interest to us." Dr Barry Richardson said "We are
working to have our products approved in the US Food and Drug Administration,
as a food ingredient, which further expands our reach and gives us access to
the global food market and not keep us restricted to operating in the dietary
supplement market."

BLIS Technologies Ltd plans on using shareholder funds from the rights issue
to expand its development capabilities, complete FDA regulatory approval as a
food ingredient in the United States, and commercialise the next generation
of new BLIS probiotics.

Contact: Dr Barry Richardson, CEO 021 664 742
End CA:00156430 For:BLT Type:MEETING Time:2007-11-08:12:59:06

THEONE
08-11-2007, 01:06 PM
There is a new pdf with more info at www.blis.co.nz.

Oman
08-11-2007, 01:10 PM
Vacuous media fluff.

A wee bit harsh Columbus. Barry is certainly focusing on the rosy side of BLT prospects but there are plenty of reasons for optimism too.

Rational scepticism is a good position to hold when investing in the share market but the apparent info behind the media hype looks positive to me.

This RI is an important milestone. The next step is to see how many people take up the offer and how the SP reacts.

Cooper
08-11-2007, 02:47 PM
So who was it? Or is ignorance Blis?

Cooper
08-11-2007, 03:12 PM
How's the cat?

Blisfull, allegedly. The canines?

Oman
08-11-2007, 03:53 PM
I smell a Maltese terrier her or hereabouts.

I've heard K12 is actually good for dogs with bad breath. The owners skip the mouthwash but grind the tablets into the dog food. The results are amazingly positive after a few days.

Hopefully BLT is doing market research in the pet food additives markets.

scamper
08-11-2007, 05:47 PM
In spite of being an officially 'unknown quantity', Columbus, may I suggest that your quantity is too much, and your quality too little.
Your persistent playing with your self is reminiscent of ramping -- or some other verb in the present participle...
Stick with the brain stuff, please!

Bobby_Fischer
08-11-2007, 06:43 PM
Scamper, I think Columbus needs a bit of patience and understanding, being a BLT shareholder of very long standing (assuming holding through several reincarnations counts). His condition a warning to the rest of us perhaps on the risks of going long in this particular stock?

scamper
09-11-2007, 10:37 AM
I'm an aging puppy, practising grumpy.
i hadn't thought of Col. as a long-term holder with several reincarnated aliases... enough to make anyone develop mice for friends. why does quartzpurple spring to mind...

Scamper should have been out of this share six years ago, but i was then, and sadly still am, very impressed with the science behind this product.
There is no doubt in my mind that John Tagg is a first-class, international, cutting-edge biochemist, and that his research opens the door to great riches and benefits.
It has been the businessmen who have consistently failed with product selection, manufacturing, advertising, and marketing.
i guess ethical choices should never be put ahead of fact-based decisions when it comes to choosing shares. One friend suggested owning blt should be considered like putting money in the church collection plate. it didn't help. cheers.

Bobby_Fischer
09-11-2007, 12:13 PM
One friend suggested owning blt should be considered like putting money in the church collection plate. it didn't help. cheers.

Heh, and they are just about to start passing the ol' plate round again. Oh come all ye faithful ... dig deep now.

Enumerate
10-11-2007, 05:50 PM
K12 saved by the K9?

Bobby_Fischer
13-11-2007, 03:17 PM
The investment statement for the rights issue should have gone in the mail yesterday, but, catering for the needs of the impatient, I see BLT already have a copy posted to their website.

scamper
13-11-2007, 03:46 PM
scamper received his today in the dunedin post...

Oman
14-11-2007, 02:02 AM
There are a few sellers offering Rights at a paid up price in around 8.4 cps but no sales. Not that many sellers either which is encouraging. Maybe most holders will take up their entitlement.

Impatient
18-11-2007, 05:29 PM
There are a few sellers offering Rights at a paid up price in around 8.4 cps but no sales. Not that many sellers either which is encouraging. Maybe most holders will take up their entitlement.

Honestly, Oman, I believe many - like myself - who invested in BLT early and expensively and thus only hold relative few shares (by today's standards) simply can't be bothered with even selling their entitlements - brokerage fees etc likely exceed the proceeds. (I might be wrong)

Impatient
18-11-2007, 05:33 PM
what's the story with the latest Blis statement talking up their 'retail strategy' in New Zealand???? I recall the board and Barry making it very clear at the AGM that they wanted to move away from the NZ retail business and focus solely on overseas markets. So now they're back paying attention to the NZ market? Am I missing something or does the management + borad not know what they actually want? (including Barry, of whom everybody seems to think that the sun shines out of his...well, I haven't seen any concrete results yet.......Barry, if you read this: SHOW ME THE MONEY!!!!)

Impatient
18-11-2007, 05:56 PM
...are these BLT managers/directors still running the show then? If the product is promising (and I think it is), it must be the management at fault. Agree that Barry is better than what we had before him, though he comes at a high cost with very few (if any 'real') positive results so far. I am amazed by the naivety I'm encountering here - thank god I'm not holding as many shares as some of the other forum members here, as I for one would be very, very VERY angry with how my money is being burnt here.

On the other hand I might do the other forum members wrong - if they hold substantial shares, they HAVE to spread some (desperate) optimism in order to talk their own shares' value up :-)

Am I wrong?

tsb
18-11-2007, 07:35 PM
This has disaster written all over it and they will do doubt have to go through another costly exercise to try and raise some dosh or do a Feltex.
Maybe thats the plan!
I'm not playing this time either

Chippie
18-11-2007, 07:39 PM
what's the story with the latest Blis statement talking up their 'retail strategy' in New Zealand???? I recall the board and Barry making it very clear at the AGM that they wanted to move away from the NZ retail business and focus solely on overseas markets. So now they're back paying attention to the NZ market? Am I missing something or does the management + borad not know what they actually want? (including Barry, of whom everybody seems to think that the sun shines out of his...well, I haven't seen any concrete results yet.......Barry, if you read this: SHOW ME THE MONEY!!!!)

The strategy is clear and has nto changed i.e. to use Pharmabroker (re quote below from AGM 1 Aug 07).
"Dr Barry Richardson, who
was appointed as Chief Executive in August 2006, is a key to the successful
implementation of this strategy. He has considerable international business
to business marketing experience from his time in the dairy industry. While
new product development is an important component of the new strategy, the
Company's resources do not allow a major focus on marketing of consumer
products. Hence the Company's direct involvement in the local market has
been reduced, and Pharmabroker took over the NZ marketing in May"

Scuffer
18-11-2007, 10:10 PM
I think that BLT are more focused in research than marketing, the whole idea of listing was in my opinion to access more funds to continue research, therefore I don't see them actually putting much effort into anything as long as there is some cash to fund their main emphasis, remember these people are motivated more by kudos in the scientific community than having a big bank account.

Oman
19-11-2007, 01:41 PM
I think that BLT are more focused in research than marketing ... I agree Scuffer. They seem to want the cash for research papers and professional advancement that goes with the learned publications and leave the marketing as an add-on for someone else under patent agreements. They also get research grants to keep them going. That seems to be the strategy but for us who have money invested ...where's the payback?

I hope holders with rights offer them to the market even if there's no profit. It will give the opportunity for BLT to get that cash they need so badly from other buyers (perhaps) ...must be pretty desperate to try to raise cash just before Xmas.

Oman
19-11-2007, 04:01 PM
I don't often agree with you but the evidence supports your last opinion Columbus.

Anyone wanting to sell a small parcel of BLT rights hits a $30 selling fee. It's hardly worth selling even with a large parcel ...so no sales made and no real chance of picking up new shareholders either.

It's hard not to interpret this RI as a fairly desperate attempt to raise cash. The margin between current SP and market price is far too tight. Nothing in it for anyone ...but a large dilution effect (perhaps not so large?) :(

Scuffer
19-11-2007, 06:11 PM
If nobody sells their rights and they don't take up their option to buy like what happened with BOZ earlier this year does that mean that BLT then can on sell a large number of shares to some large investor at a cut price.

Scuffer
20-11-2007, 03:58 PM
My point exactly, not in the shareholders best inerests at all.

Bobby_Fischer
22-11-2007, 02:48 PM
BLT 1/2 year due out today (just before market close - bad news), or tomorrow (morning - good news)? The RI bumpf said BLT were on track to be cashflow +ve this year - so looking for some proof of that at least and hopefully some indications that there is any point to putting more dosh into this company.

Scuffer
22-11-2007, 08:36 PM
This one appears to have more fluff than my duvet

THEONE
24-11-2007, 05:07 PM
Looks like some of the PHD students are helping Blis with research.
I wonder how that works?
I think from memory Blis has rights of Blis science
for 10 years from Otago Uni.
That was a few years ago though

http://microbiology.otago.ac.nz/dept/staff/jack_ralph/profiles.html

Hopefully we get some exciting news in the next couple of
weeks to make the rights issue succed.

Impatient
25-11-2007, 09:27 AM
BLT 1/2 year due out today (just before market close - bad news), or tomorrow (morning - good news)? The RI bumpf said BLT were on track to be cashflow +ve this year - so looking for some proof of that at least and hopefully some indications that there is any point to putting more dosh into this company.

gosh they wanted to be cashflow positive in 2006, so forget about any of their promises. Most important is that the directors and especially Barry get their fees!!! Shareholders come second.

Scuffer
25-11-2007, 08:22 PM
Numero uno

Research followed by enough money to pay management, what are shareholders for but to provide a means to an end in this case more research.

Bobby_Fischer
26-11-2007, 10:55 AM
gosh they wanted to be cashflow positive in 2006, so forget about any of their promises. Most important is that the directors and especially Barry get their fees!!! Shareholders come second.

Understand your cynicism, Impatient, as there have many overly optimistic (i.e. BS) forecasts in the past. I think there has been a real change of tone under Barry and I expect to see confirmation in the half-year results that this latest forecast is reasonable. Barry has taken his fees (so far) in BLT shares, and will now need to put in his own cash to take up his rights entitlement - it's ridiculous to suggest he is guilty of trying to soak BLT shareholders.

The half-year announcement is now late - BLT lose all credibility if this doesn't come out well before the rights offer closes, so I'm guessing they are waiting to announce some sort of deal - hopefully something that will motivate uptake of the rights, as there doesn't appear to be much point at the moment. Thinking of taking a punt on some rights at 0.1 cents - if nothing comes of it then not much to lose, but plenty of potential on the upside.

Oman
26-11-2007, 05:44 PM
Just received my RI papers in the mail. FYI overseas holders have until 30 Nov to respond with cash and application. After that date the rights of overseas holders will be force-sold on-market and the proceeds sent to them. So maybe expect a few more sales next week at 1cps ...although not many non-NZ addressed holders I expect.

THEONE
01-12-2007, 02:15 PM
I have just posted off the chq subscribing in full
to the rights issue.
Will be interesting to see who the global companys are?
Hopefuly the "near future" is soon

Anyone else here subscribing?

It should be interesting to see how much they raise
and who subscribes.

Scuffer
01-12-2007, 04:22 PM
Ya never know ya luck in the big city.

Oman
02-12-2007, 02:30 AM
...Anyone else here subscribing?

Oman bought all his rights and will pick up a few more on-market later.

Some self fulfilling prophecy in this exercise ...if holders provide the cash they help make BLT a success ...but the reverse occurs if they don't. Ummm, I wonder which way those 2-3 main shareholders will lean?

I thought Barry would try to persuade the market to support BLT more than he did in the half year report ...but then, why bother if no one's listening to what's already been clearly stated? ...and maybe there's a Plan B in the shadows as unsubscribed rights can be parcelled and sold if I read the prospectus correctly ...and there might be a buyer looking for that parcel.

THEONE
02-12-2007, 10:28 AM
Thats great Oman Im not the only one! ha ha
Thats very true, I hope they raise some decent cash.

Reading between the lines looks like they thought they
could announce something but the timing was off.

I got a reminder notice in the mail, loks like the directors
are taking up their rights.

Hopefully Barry is taking up his, even better if the university is!

scamper
03-12-2007, 10:32 AM
Yeah, scamper's in too.
got a letter last week saying that all the directors, and fennessy, are taking up their full allocations. fingers crossed.

Bobby_Fischer
03-12-2007, 10:59 AM
Have finally decided to support it. Like T1, I reckon they're close to announcing something "biggish", but the timing hasn't worked out. I was a bit disappointed in the half-year result, but Barry has accomplished a lot in his short time at the helm, and I trust him to deliver on the breakeven forecast, given that it has been repeated in the latest announcement.

Glendoonie
03-12-2007, 08:58 PM
I'm in too; cheque's in the mail ;-) Really.

neopole
04-12-2007, 10:54 AM
after the half decade of support i put into this company, i want to see real evidence of growth before i cough up more cash.
maybe the rights issue should have a time held discount attached to them, that way folks like me that forked out $1 per share and supported the coy at the beginning can get a little reward.
i have since averaged down to 20c per share, to chuck more cash at this coy at this stage even at this low price is going to hurt.

Impatient
12-12-2007, 06:01 PM
Oh wow, there hasnt been a post here for ages - what's happening? No news? No comments on how awesome this company is?.......thought so!

Bobby_Fischer
14-12-2007, 12:17 PM
Just under $1.4 million raised through the rights issue, with just under 41% of rights taken up. I thought they'd not even make it to 30%. 41% is pretty bad, but falls short of a complete disaster. It'll be interesting to see how successful they are at marketing the shortfall.

Oman
15-12-2007, 07:40 PM
I think the BLT team were expecting a 50% acceptance and there was a contingency plan for the remainder. The question now is, who is the possible buyer of such a large parcel?

Scuffer
16-12-2007, 02:08 AM
I know its not me, but I did take up my options hopefully I've done the right thing its funny how a few companies (PEB on NZX, and MRX on ASX)have come back to shareholders for money at Xmas with a short time frame to stump up with the cash its almost as if they are giving you an option but dont want you to take them up on the offer, Xmas is renowned for being a bad time to sell shares on the open market,

Oman
16-12-2007, 09:22 PM
I also wondered about the public face ...like going through the correct protocols ...and the real deals done in private. I hope we aren't being sold off too cheaply to a big fish ...but then, when I think about it, a big fish could be useful compay to have now ...providing it's not a shark :)

Scuffer
17-12-2007, 08:20 PM
At the price of todays shares I would say its already sold off at bargain basement, if a big company wants in now is when its gonna happen if not blow it a kiss.

Oman
21-12-2007, 12:44 PM
So one man has confidence in BLT. 7m shares held by Michael Bird and probably more announcements to come over the next week or so. The picture should be clear by end Jan.

Oman
05-02-2008, 02:52 AM
It's Feb and the picture is clear enough ...the big holders didn't support the rights issue ...the SP is dropping as disillusionment increases among the doubters. Perhaps there’ll be some positive news before Easter.

mondograss
05-02-2008, 07:53 AM
In case you hadn't noticed Oman, there's been quite a lot of turmoil on the markets. The amazing thing is that this shareprice has barely moved. I would have expected a little biotech like this to be dropped like a hot potato, but I guess when you're only talking about a share worth a few cents, there's not that much further to go.

Bobby_Fischer
05-02-2008, 10:05 AM
It's Feb and the picture is clear enough ...the big holders didn't support the rights issue ...the SP is dropping as disillusionment increases among the doubters. Perhaps there’ll be some positive news before Easter.

Further, expectations were raised in December that a number of parties were interested in the unsubscribed rights, but nothing has come of that interest, apparently, although market conditions since could hardly be described as normal.

Scuffer
05-02-2008, 04:02 PM
Like I said earlier blow it a kiss and watch it float off,downwards.Blis are a long way off making any money for long suffering shareholders they don't care about you they floated this to get the chance to do more research you are way down the list.

Steve
05-02-2008, 05:49 PM
So one man has confidence in BLT. 7m shares held by Michael Bird and probably more announcements to come over the next week or so. The picture should be clear by end Jan.

I believe that Mike used to be a car importer around 10 years ago...

Steve
11-02-2008, 09:19 PM
It could be that no news is good news?

THEONE
12-02-2008, 05:39 AM
Yeah hopefuly no news is good news, wishful thinking though
Hopefuly we get an annoucement soon.

What intrigues me is the talk about the discussions
with big multinationals, they said a few months ago
they expect to make an announcment in the near future.

Surely this must be something to do with the dental caries
product. They talk about wanting to deal with the top 3 companies in
the market.

Hopefuly thats colgate or macleans that would be awesome!

My guess is Japanese pharmaceutical must be a small company as they havent stated the
size and they have had the deal for a long time.

If DSM was going to take up 19% of the shares would it take this long?

What gives me confidence is Barry Richardson has at least 3 million shares, so he
is doing the best he can!

So far he has done a great job.

Bobby the Blis research expert it would be great to hear your views!

Oman
12-02-2008, 12:52 PM
BLIS has a history of minimal news releases but steady effort. Barry will be working on that 'to do' list above. He has already tried to dampen expectations by saying that these contractual discussions and agreements take time to work through.

I’m fairly sure BLT will have some positive news for the next FY report due about April. They have a 2-month window to work in ...which is actually rather tight.

Oman
16-02-2008, 01:22 AM
I think the 7m is a combination of shares previously held + the 2:7 issue which has taken Mike over the 5% limit so he has to declare his name & the total holding. If this is correct then BLT still has 26m to find a buyer for at 7.5 cps ...which given the present market ...and without some 'SP boosting' news ...will be quite a challenge. If they don't raise that additional cash they may have problems funding the FDA food additive approval and other initiatives already announced.

Oman
18-02-2008, 03:46 PM
Hi Simla. I checked the last annual report and Mike was holding 5m then so the extra 2m is from the issue.

Good to hear Pharmabroker are working on the BLT products. It sounds like they are looking at the product packaging from the customer's perspective. About time too. The present BLT labeling looks highly suitable for rat poison but not for health promotion products.

It's a pity BLT doesn’t have a logo like Intel …something like “Contains K12 inside”. Barry may need to think of the branding issue sometime soon ...if he's not already overloaded with so many other thoughts!

Impatient
18-02-2008, 09:31 PM
...actually it's a BIFF-IT. Where does the share price stand now, 5-6 cents???? HAHAHAHAHA, gosh if I wasn't losing a lot of money on it, I could only laugh at the naive optimism I still hear in his forum. I know that 'hope dies last', but come on, this is beyond wishful thinking and hope - its madness. There is NO news - HOW do we even know that Barry is doing anything rather than racking up expenses and costing us money??? It's not like he's actually keeping his head down, working away quietly and underpromising as a rule; recall the BIG BIG promises in AGM August 2007??? That came from the board AND from Barry's direction.

Back then the team rejected the idea of new directors that could have added some new ideas and, in particular, marketing expertise, so their products still look like crap, their marketing is non-existent, and to believe that Pharmabroker's "Yes, we're taking Blis seriously" is anything but a standard reply to a customer/investor inquiry is plain and simply naive, sorry. Call me persistently begative and pessimistic, but - like for the past years and years - I am still waiting for a change and nothing, I repeat NOTHING is happening.

For a board and CEO so arrogant as to not bother with keeping us investors - and we are effectively THEIR employers - up to date is disgusting. These people must go.

Oman
18-02-2008, 11:38 PM
...tend to agree with you Impatient ...and with Scuffer. The present SP…no sales ...and the few buyers offering a pittance reflects the lack of information the Market has. I’m an optimist but I need the FY accounts to get a handle on the real BLT reality (assuming they don’t cook the books). :(

THEONE
23-02-2008, 07:47 AM
Hey Smila just found this patent application
for Q24 its very interesting

Regarding Probiotic deodorant

These results confirm the earlier assessment that Q24 is effective in reducing body odour. This is believed to be by action against the aerobic diphtheroids commonly implicated in body odour.
Effect of M luteus Q24 on Athlete's Foot

Formulation:

Grapeseed oil 2.O g

Chamomile oil 0.06 g

Q24 freeze-dried powder 0.1 g

The oil formulation was prepared by mixing M. luteus freeze-dried powder with the oils to produce a suspension formulation.

The Q24 cell count for the deodorant stick was 1.2 x 107 cfu/g.

The formulation was applied to the infected area of five subjects with athlete's foot daily for three days. Within 10 minutes the itchy symptoms had disappeared. After three days no further application was required due to cessation of the signs of infection.

All references including patents and publications cited in this specification are incorporated herein by reference

Http://www.wipo.int/pctdb/en/wo.jsp?WO=2006%2F104403&IA=WO2006%2F104403&DISPLAY=DESC

simla
23-02-2008, 12:57 PM
Yeah, that's one of the strange things about Blis. They often refer to having other intellectual property that they can't tell us about. I suppose this could be part of that. Well done for finding that, by the way. But they also say that they can't run with ideas that won't make a profit. They said that bad breath is already serviced by other products, for example, so there is a limit to how far Blis can make inroads there, for example.

On the face of it, the athlete's foot is really a saleable product. We've all had athlete's foot at some time in our lives, and it's a nuisance. The cream you put on is meant to go on for up to two weeks after the infection is gone, which is a real nuisance too. So this would seem much better. Are they not running with this because they feel it is too hard to break an existing market? Or no money? Or perhaps they are trying to develop it and not saying?

You can see why not telling the whole world about their future is a reasonable plan. But it sure makes it hard for shareholders. Basically, the share price just goes down because there is no actual profit reported. Until there is, the share price is just a random number anyway and always will be. If there was profit, we would be more accepting of these various mysteries around the company.

Barry has several times said he expects to break even by March 31, presumably on an ongoing basis rather than Financial Year to March 2008. But of course, they do not have to tell us anything for three more months yet! Impatient, I'm not sure that Barry doesn't actually just keep his head down and promise little. He came out loudly when they needed to raise money, as is basically his job. But otherwise we do not hear a lot except announcements of actual events?

Certainly 2008 seems a make or break year for Blis. With some money under their belt, some talent accumulating in the office, and international contracts forming, things are never going to get better for finally making a profit.

Oman
23-02-2008, 02:39 PM
Following the link and using the data about the 17172 bio strain took me to Yale University and Taiwan. I suspect this is the work of competitors rather than BLIS.

That's another worry for BLT investors ...the seemingly slow marketing of decent products. Being first to market is a competitive advantage so why does BLT allow Pharmabroker to take so long to produce results? Is it inertia ...or are they really trying to beat the opposition who are working in the same field and trying to market similar products?

I think we may have an element of town and gown. The PhDs of BLT may be a wee bit out of touch with commercial reality.

emearg
23-02-2008, 08:08 PM
Go to:

http://www.wipo.int/pctdb/en/

and put in

Blis Technologies Limited

in the applicant name box and will be able to see for yourself which patents Blis has filed.

For me, knowing that Barry has more than a dozen times the number of Blis shares I do comforts me. He wouldn't have taken the job if he didn't think he could make a big difference and he sure as heck wouldn't have taken pay in the form of shares if he didn't see huge potential.

Patience is required with companies like this.

Oman
25-02-2008, 01:15 AM
Thanks for the info Emearg.

The 17172 I tracked is already registered and the stuff is available off the shelf. The BLT claim involved 17172 but is a composition. Publication Number WO/2006/104403 SKIN TREATMENT COMPOSITIONS at the site Emearg provided above.

There is another patent for a BLIS treatment of acne but it's not registered as a BLT invention. The Publication Number is WO/2007/070518,

simla
25-02-2008, 11:30 AM
Oman, are you saying the Q24 treatment for athletes foot can be purchased at a chemist? My wife's a doctor, and some of her patients would probably like to try that.

As the patent seemed to suggest it had other uses, is athletes foot what it is sold for? And if it is for sale, are you saying that Blis are the ones selling it?

Oman
25-02-2008, 12:07 PM
No Q24 isn't available at retail level but is at manufactuer's level ...if they have a licence to buy. The 17172 strain is held in a German bio-stockbank as far as I can see. BLT could get it okay but we can't.

ps. 1% Nizoral is good for the foot problem.

simla
25-02-2008, 04:35 PM
Thanks! Medical advice included here huh?

Oman
25-02-2008, 05:10 PM
:) no advice intended ...just a sudden thought as a PS.

There are already effective cures for fungal attacks so how will BLT convince doctors/buyers that their hypothetical Q24 product has additional benefits that will cause them to change their habitual treatment? Can they overcome the 'established market inertia factor'?

THEONE
25-02-2008, 06:59 PM
I just noticed that therabreath has started selling K12 as a gum and also as a lozenge.

I assume they now they have approval to sell as a Lozenge in USA which is great news.
Before they could only sell as mouthwash.

http://www.therabreath.com/product.asp?CAT=22

Hopefuly we will hear about the major nutraceutical company selling in USA soon, maybe they will be selling as a lozenge?

simla
26-02-2008, 09:02 PM
Well spotted again, THEONE. You may be right that this will lead to further developments in the shorter term. Blis have been talking of gum for some time I think. And Pharmabroker talked of a user-friendly product. Gum and lozenges would seem to fit that description pretty well. Certainly chewing gum for bad breath or a sore throat is the sort of thing consumers can probably relate to pretty easily. Same for lozenges.

Not sure about the American neutraceutical company selling lozenges though. Does anyone feel they are sure just quite what neutraceutical means? Google says it is a healthy additive to food, which is more like what Nestle are looking at. It would sort of seem to require you to be a food company wouldn't it?

simla
28-02-2008, 07:09 PM
To answer my own question for anyone who cares, after looking around the net neutraceuticals seems to mean biological-based additives to food. Half of them seem to fall into the Blis category - ie. tested - and half them are just fad claims. So they seem to be growing in popularity as part of the "green" revolution. Perhaps it is that aspect which makes Blis attractive to some of us?

Incidentally, for anyone interested, while looking I came across this NZ government list of Blis-like companies in NZ in 2005. It includes a lot of companies I had never heard of, although lots seem to be privately owned. If anyone finds any good investments here though, let us know ...

http://www.ableindia.org/images/biotech_nz_reduced .ppt

simla
29-02-2008, 08:12 AM
http://www.ableindia.org/images/biotech_nz_reduced%20.ppt

Oman
10-03-2008, 07:17 PM
The desk reshuffle announced today shows that we were right about the BLT PhDs being focused on research instead of commercial profits. Murray Kennedy probably worked with Barry previously so his track record will be a good one.

Bobby_Fischer
10-03-2008, 10:24 PM
Wonder if Blis will get a slice of the new Govt. "innovation" funding package being announced tomorrow? Food ingredients was mentioned on the news as one of the areas being targeted.

Scuffer
11-03-2008, 02:06 PM
Would you employ a mechanic to come round and rewire your house, these guys are not the best men for the job.

Oman
12-03-2008, 01:02 PM
An Exec MBA takes 1 year plus a 3-month thesis. You start learning about business reality after another year on the job. So do we have another delay to profitability here?:(

Steve
18-03-2008, 06:50 PM
"It is very obvious to me from our ongoing relationship with companies such as Nestle Nutrition and others who can't be named right now, that we need staff who not only understand our unique science, but who can also understand its commercial value and can negotiate future contracts on that basis,... It is all about having people who can convert our intellectual assets into commercial reality"

I wonder who are the others who can't be named right now are?

emearg
19-03-2008, 04:12 PM
I am glad to see these guys taking up their rights! It is nice not to be the only one backing the future of this company. Barry has serious amounts of money invested in it becoming a success.

BLIS Technologies Limited BLT 19 Mar, 2008, 14:51 RELINT Disclosure of Directors and Officers Relevant Interests
Full Text of Announcement
DISCLOSURE NOTICE
Disclosure of Directors and Officers Relevant Interests
(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)
Initial disclosure (complete Parts A, B, C, D, F, and G of this notice)
Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) X

B. Preliminary
1. Name Peter Francis Fennessey
2. Name of issuer BLIS Technologies Limited
NZX company code of issuer BLT
3. Name of related body corporate (if applicable) N/a
4. Position you hold in the issuer or related body corporate Chairman & Director
5. Date of this disclosure notice 19-Mar-08

C. Nature of relevant interest
6. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b)) Peter Francis Fennessey
7. Class and type of security (as required by regulation 6B or regulation 8) Ordinary shares
8. Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a)) Beneficial owner

D. Date (for initial disclosure)
9. Date of disclosure obligation (as required by regulation 6C) N/a

E. Transaction (for ongoing disclosure)
10. Date of last disclosure (as required by regulation 13) 14.12.2007
11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)
12. Number of transactions (as required by regulation 12(2), if applicable) N/a
13. Nature or type of transaction (as required by regulation 11(1)(a)) Acquisition of ordinary shares pursuant to 2 for 5 renounceable rights issue
14. Consideration (as required by regulation 10) 7.5 cents per ordinary shares (in aggregate $11,910)
15. Number of securities held prior, set out by class and type (as required by regulation 8) 147,000 ordinary shares
16. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b)) 158,800 ordinary shares

F. Extent of relevant interest
17. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8) 305,800 ordinary shares

Signature (as required by regulation 14)




DISCLOSURE NOTICE
Disclosure of Directors and Officers Relevant Interests
(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)
Initial disclosure (complete Parts A, B, C, D, F, and G of this notice)
Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) X

B. Preliminary
1. Name Colin Ernest Dawson
2. Name of issuer BLIS Technologies Limited
NZX company code of issuer BLT
3. Name of related body corporate (if applicable) N/a
4. Position you hold in the issuer or related body corporate Director
5. Date of this disclosure notice 18-Mar-08

C. Nature of relevant interest
6. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b)) Colin Ernest Dawson
7. Class and type of security (as required by regulation 6B or regulation 8) Ordinary shares
8. Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a)) Beneficial owner

D. Date (for initial disclosure)
9. Date of disclosure obligation (as required by regulation 6C) N/a

E. Transaction (for ongoing disclosure)
10. Date of last disclosure (as required by regulation 13) 14.12.2007
11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)
12. Number of transactions (as required by regulation 12(2), if applicable) N/a
13. Nature or type of transaction (as required by regulation 11(1)(a)) Acquisition of ordinary shares pursuant to 2 for 5 renounceable rights issue
14. Consideration (as required by regulation 10) 0.07125 cents per ordinary share (in aggregate $28,500)
15. Number of securities held prior, set out by class and type (as required by regulation 8) 35,700 ordinary shares
16. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b)) 400,000 ordinary shares

F. Extent of relevant interest
17. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8) 435,700 ordinary shares

Signature (as required by regulation 14)



DISCLOSURE NOTICE
Disclosure of Directors and Officers Relevant Interests
(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)
Initial disclosure (complete Parts A, B, C, D, F, and G of this notice)
Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) X

B. Preliminary
1. Name Maxwell Gilbert Shepherd
2. Name of issuer BLIS Technologies Limited
NZX company code of issuer BLT
3. Name of related body corporate (if applicable) N/a
4. Position you hold in the issuer or related body corporate Director
5. Date of this disclosure notice 18-Mar-08

C. Nature of relevant interest
6. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b)) (i) Maxwell Gilbert Shepherd and Cheung-Tak Hung as trustees of the Rutherglen Trust; (ii) M G & L A Shepherd Family Trust
7. Class and type of security (as required by regulation 6B or regulation 8) Ordinary shares
8. Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a)) (i) Non-beneficial; (ii) Beneficial owner

D. Date (for initial disclosure)
9. Date of disclosure obligation (as required by regulation 6C) N/a

E. Transaction (for ongoing disclosure)
10. Date of last disclosure (as required by regulation 13) 14.12.2007
11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)
12. Number of transactions (as required by regulation 12(2), if applicable) N/a
13. Nature or type of transaction (as required by regulation 11(1)(a)) Acquisition of ordinary shares pursuant to 2 for 5 renounceable rights issue
14. Consideration (as required by regulation 10) 7.5 cents per ordinary share (in aggregate $24,382.50)
15. Number of securities held prior, set out by class and type (as required by regulation 8) (i) 2,287,671 ordinary shares; (ii) 812,750 ordinary shares
16. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b)) 325,100 ordinary shares

F. Extent of relevant interest
17. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8) (i) 2,287,671 ordinary shares; (ii) 1,137,850 ordinary shares

Signature (as required by regulation 14)




DISCLOSURE NOTICE
Disclosure of Directors and Officers Relevant Interests
(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)
Initial disclosure (complete Parts A, B, C, D, F, and G of this notice)
Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) X

B. Preliminary
1. Name Barry Charles Richardson
2. Name of issuer BLIS Technologies Limited
NZX company code of issuer BLT
3. Name of related body corporate (if applicable) N/a
4. Position you hold in the issuer or related body corporate CEO (pursuant to a contract for services with Barry Richardson Enterprises Limited
5. Date of this disclosure notice 18-Mar-08

C. Nature of relevant interest
6. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b)) (i) Barry Charles Richardson & Joy Vera Richardson; (ii) Barry Richardson Enterprises Limited
7. Class and type of security (as required by regulation 6B or regulation 8) Ordinary Shares
8. Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a)) Beneficial owner

D. Date (for initial disclosure)
9. Date of disclosure obligation (as required by regulation 6C) N/a

E. Transaction (for ongoing disclosure)
10. Date of last disclosure (as required by regulation 13) 3-Apr-07
11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)
12. Number of transactions (as required by regulation 12(2), if applicable) N/a
13. Nature or type of transaction (as required by regulation 11(1)(a)) Acquisition of shares pursuant to 2 for 5 renounceable rights issue
14. Consideration (as required by regulation 10) (i) 7.5 cents per ordinary share (in aggregate $30,000); (ii) 7.5 cents per ordinary share (in aggregate $90,000)
15. Number of securities held prior, set out by class and type (as required by regulation 8) (i) 1,000,000 ordinary shares; (ii) 3,000,000 ordinary shares
16. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b)) (i) 400,000 ordinary shares; (ii) 1,200,000 ordinary shares

F. Extent of relevant interest
17. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8) (i) 1,400,000 ordinary shares; (ii) 4,200,000 ordinary shares

Signature (as required by regulation 14)

Steve
19-03-2008, 09:14 PM
I am glad to see these guys taking up their rights! It is nice not to be the only one backing the future of this company. Barry has serious amounts of money invested in it becoming a success.

It is usually a good sign...

Oman
21-03-2008, 01:20 AM
So they managed to flog off another 1.5m shares from the unsold rights raising about $100,000. Not exactly a rush of buyers ...but in the present financial climate, quite a good achievement.

About those unnamed companies ...we know Barry wants BLT to be in the branded food ingredients market so the clue probably lies in there somewhere. Can't be many big names in the food mixing business. :)

Oman
23-03-2008, 07:29 PM
I am glad to see these guys taking up their rights!

Umm ...if they were so committed and of the opinion that BLT is a super-winner why didn't they grab those 25 million or so of unsubscribed rights?

No spare money? Maybe ...but it could also be they were just doing the minimum expected of directors. The RI milestone was just barely passed so if they hadn't supported it the issue may well have failed completely.

Let's hope the 19% shareholding goes ahead. That would be positive.

Impatient
26-03-2008, 09:49 PM
Wow, somebody bought blis shares for a whole $40!!! Somebody's betting big on the company.... :-)

SMan
07-04-2008, 07:53 PM
I have heard word there is current unpublished research to suggest BLIS may not be as effective as first thought. Could be something to look into..

DISC I do not hold and have not followed BLT, just heard news from someone working on a similar project.

Enumerate
07-04-2008, 08:08 PM
TVNZ had an Aussie health program on Sat morning.

Dr Spiser (sp?) was profiled with a probiotic product "from New Zealand". The demo, with two presenters, showed significant reduction in cysteine producing bacteria and hence a significant reduction in bad breath.

Oman
09-04-2008, 01:12 AM
This is subjective anecdotal stuff …but I know five people (six if we include me) who have benefited from the K12 chewing gum formula. They all throw out the fresh breath pack fluids and just use the chewing gum as directed ...twice a day. It seems to help with ENT problem including allergy, sore throat, and sinus problems ...even helps with bad breath!

Scuffer
09-04-2008, 08:25 AM
Well all I can say is the stuff works because I've seen the effects and the health benefits, anyone who disagrees go and buy some and use it or find someone who needs it and give it to them then wait for the positive reaction.

Chippie
09-04-2008, 11:31 AM
It works for me and my bad breath. I would be gutted if K12 was not on the market.

On that subject price is almost irrevant when it comes to bad breath.

emearg
09-04-2008, 04:26 PM
I used to get three or four colds every winter. Was an absolute given. Two years ago I bought a bottle of the throat guard when I felt a sore throat brewing (once I got one I always got a cold in four - seven days). I didn't get a cold that year. Last year I did the same. Again no colds. For me that is a big change. Did Throat Guard do it? One can only wonder but this year when I feel a sore throat brewing I will be heading to the chemist. Interesting aye?!

Lizard
09-04-2008, 06:58 PM
I use one tablet at night occasionally if my teeth are "twinging" a bit. Seems to work.

Also, have found just one tablet at bedtime is enough for kids with sore throats to wake up cured. And for those persistent "don't-want-to-go-to-school-stomach-ache", I find one dose of Bio-restore seems to work. (Never sure whether that is the castor oil "no-don't-make-me-drink-that-stuff" effect, but seriously, who cares?) :cool:

Oman
12-04-2008, 01:26 PM
I’m surprised to find BLT listed on the USA ‘Other the Counter’ (OTC) trading lists. BLTHF was listed 20 Mar 2008. FYI the links are:

http://www.otcbb.com/asp/Info_Center.asp

http://www.search.com/reference/Over-the-counter_(finance)

http://www2.barchart.com/lookup.asp?sym=BLI&code=BNAMC

http://www2.barchart.com/lookup.asp?start=700&name=B&opt1=1&type=&search_usstocks=1&search_usfunds=&search_canstocks=&search_lonstocks=&code=BSQUSA


The HY report pointed to a DMS marketing agreement. We should hear about that soon …and the Ireland market roll out.

I like Barry …he thinks Big!

Oman
12-04-2008, 11:14 PM
Oops typos ...should be 'Over the Counter' (OTC) ...& DSM Nutrition

THEONE
29-04-2008, 07:58 PM
I came across the new packageing on the internet
http://www.goo.net.nz/?goo=evidence&evidence=blis2&after=1

I wonder if they will step up the marketing this winter with the new packaging?

Anyways the Annual Report is due in around a month, hopefuly
we get some news then.
Its a bit of a worry about the Nutraceutical company in USA, they
were meant to start selling early 2008, I would have hoped we would have
heard something by now.
However the private placement of over $350K is encouraging.

Any ideas anyone?

Chippie
29-04-2008, 09:07 PM
Putting effort into the branding/ packaging should equal increased marketing. Still the oversea's markets are the big ones. Fingers crossed.

THEONE
12-05-2008, 06:31 PM
BLIS up 31% today on low volume

Bobby_Fischer
13-05-2008, 09:29 AM
Just over a week to the annual result. If the forecast given at the time of the rights issue comes good then there ought to be a bit of upside in the SP. So a few punters getting in ahead of time perhaps?

Steve
13-05-2008, 08:17 PM
Just over a week to the annual result. If the forecast given at the time of the rights issue comes good then there ought to be a bit of upside in the SP. So a few punters getting in ahead of time perhaps?

Nothing like a speculative gamble... :D

Oman
27-05-2008, 11:13 PM
30th May release moved out to 13th June and new accounting standard being implemented ...Umm. Personally I don't like delayed reports for whatever alleged reason.

Emporium
28-05-2008, 08:07 AM
Its a new way of accounting, nothing to be concerned about, a lot of other companies have been using the same waiver for compliance.

Steve
28-05-2008, 05:43 PM
Its a new way of accounting, nothing to be concerned about, a lot of other companies have been using the same waiver for compliance.

Yet quite a few companies have not had to use this waiver to ensure compliance...

Emporium
12-06-2008, 11:02 AM
down to 4.5 cents on small volume...an indication of tomorrows report?

scamper
12-06-2008, 12:09 PM
would the seller of $157-worth of shares be a likely soul for accurate prediction?
think not, but then, t'would be horrid if s/he was a lucky punter...

Scuffer
12-06-2008, 01:27 PM
Ya have to look at the volume

ericlin10
12-06-2008, 01:32 PM
When is the date for next report due

Impatient
12-06-2008, 07:35 PM
Ya have to look at the volume

Scuffer, I love it how you tell people to look at the volume when the share price is down so radically, while nobody here talks about 'volume' when there is an increase on the SP. I see some bias......

Steve
12-06-2008, 09:01 PM
When is the date for next report due

Delayed 31 March 2008 result due on 13th June...

Bobby_Fischer
13-06-2008, 02:28 PM
15:30 and still nothing. Not a happy omen, surely?

Bobby_Fischer
13-06-2008, 03:13 PM
Loss for the second half only $57K. Sales rising. But still no evidence of progress on distribution/partnership arrangements portended earlier.

simla
13-06-2008, 03:47 PM
Loss of only $57k means this company can actually be profitable without the new developments, which is itself very reassuring. Especially with sales increasing fairly exponentially still.

Nestle deal proceeding to trials must mean they managed to do preliminary tests and also to install it into food successfully, which also is promising. Depends how effective it is after this presumably, for whether they go into production later.

Disappointing no signed deals on the various fronts, but they do not seem to have given up. No talk of the various shorter term deals, like the Irish chemist, though.

The usual "good news but we're still waiting" result? Although things are verging on profitable now, no matter what, it would appear.

Oman
13-06-2008, 06:49 PM
"...The increasing complexities of the international regulatory environment have inhibited progress... "

That says it all really. No new Ireland/Spain rollout ...and nothing said about the USA sales. A marketing stuffup with Parmabroker ...and a FY loss down 30% on last year. Thats the positive bit ...the continuing trend towards profitability.

The capitalising of $567K means they are anticipating a continuing cashflow to cover the annual depreciation of that sum. In plain English, they are borrowing against future earnings to make today's accounts look good. :(

Impatient
13-06-2008, 08:56 PM
Hmm, I know takeover speculation (I should say HOPE) took place in this forum before but...I really wonder. Barry keeps indicating that huge chunks of Blis' anticipated revenue will come from ingredients and licensing. Now if this is really to become the multi-million dollar business as Barry promises, why wouldn't a multi-BILLION dollar giant like Nestle just gobble up Blis for the $8m it's currently 'worth'?? Somebody please explain that to a layperson like myself...I mean that money is pocket-change for Nestle,...less than pocket-change. So A) Nestle has very, very dumb managers who do not see the amazing opportunity to buy the goose that will lay their big, golden eggs, OR B) Nestle has very, very smart managers who can assess the potential value of this business much better than Barry + board and rather keep dealing with Blis at arm's length (...so far for the grand sum of $180k...certainly much less than what Barry + board are costing us).

simla
13-06-2008, 09:01 PM
The statement does not make clear if the capitalising is part of these figures yet, and yes, that could be massaging the figures significantly. But I still feel good about this, because sales of $657k is pretty solid stuff, especially being 41% up on last year. That looks real, and that means this company now has two futures. Yes, we want the current grand plans to come off, but this means the old original plan of profit out of sales direct to consumer is actually coming to pass after all. But it would be refreshing to get some plain, unambiguous, good news from Blis.

simla
13-06-2008, 09:06 PM
Impatient, you're dead right about the takeover point, of course. But don't the multinationals usually only buy the huge success stories, not speculative deals? Take the Microsoft bid for Yahoo, for example.

THEONE
15-06-2008, 09:18 AM
It is disapointing that their is no real mention about the international sales, in particular
in USA which was meant to start early 2008.
Hopefuly we will see sales in Ireland soon?, and Japan, Taiwan end of year.

It would have been good if they went into more detail, especially after last years
disapearing distributors.

I agree Simla it is very ambiguous, you need to read between the lines alot

If Blis realy wanted too i am sure they could easily start selling as a retail product internationaly, which makes me wonder what is happening behind the scenes.
As they have stated there goal is to sell as an ingredient to big multi national who buy in bulk.

If they didnt have any decent negotiations happening, i think they would have been
pushing their retail strategy more.

Other than that there are a few positives.
I wonder what are the odds of the Nestle trial being succesful?
It reminds me that most of blis costs are fixed and once sales increase,
Blis could be a very profitable company.

Hopefuly we will know more at the AGM, anyone going?
I probably will go

ericlin10
15-06-2008, 03:49 PM
report like this dont know how the BLT share price going to react on monday

Oman
23-06-2008, 06:41 PM
I think we have the answer to the above. The SP is 5 cps and there are almost no buyers. No surprises there.

The next milestone is the full report & accounts due 30 June, but I don't expect much interest in BLT until some substantial good news is produced ...that may take a few months yet ...did I hear the sceptics say '...a few years!'

simla
30-06-2008, 10:19 AM
Interesting bits in the report that I noticed:

- expanded agreement with Australian Breezecare.
- sales & marketing agreement with US Jack Klein & Associates, for multiple sales platforms in US
-other international research & development agreements being negotiated
- new marketing manager
- work done in Ireland (ambiguous!)
- several ingredient products in US before year end
- new products into NZ this month
- early sales of neutraceticals ingredients into US
- production scale launch in retail in US in August
-a fair amount of work internally as well, which will presumably pay off over time

Quite a bit to chew on. Sounds promising to me.

Bobby_Fischer
30-06-2008, 01:13 PM
Have been chewing this over myself. Far more informative than the full year announcement to the market - hard to understand why they kept all this detail quiet - too busy geting on with the job, hopefully.

Very understated operations report - a deliberate contrast, I suspect, to previous years efforts which have been long on promises and short on delivery. Quoting from the report:

"BLIS Technologies received a production scale order for BLIS K12 which will likely launch in the US retail market in August 2008"

Something that in times past would have prompted a separate announcement - here it is barely a footnote.

Seems to be plently going on and a real sense of forward momentum. This report is one of the most positive I have seen ...

Ironically the SP is near all time lows.

Oman
08-07-2008, 03:28 PM
Interesting bits in the report ...Quite a bit to chew on. Sounds promising to me.

Agreed, but I'm still chewing on the auditor's tag. It was stated twice that BLT has a sword hanging over them ....Cash to pay the bills! If they boost the sales and hold the promised course it should be okay ...but if not they're finished.

simla
13-07-2008, 05:25 PM
Good point Oman. Blis is now doing everything that we've been waiting for. So if it does not work, if Blis really is not a very saleable product, then there really isn't anything else left to try. And the world collapsing is not exactly good timing. But on the other hand, actual cash sales of product last year, even without the neutraceutical route, were pretty healthy. With a bit of head wind, those sales might reach a million pa this year, which is probably enough for a company to get by on for a while failing all else.

Presume we will learn a little more at the AGM. I won't be there, so post anything interesting please anyone who is there. Has anyone seen anything of the promised relaunch in NZ this month?

Impatient
14-07-2008, 06:12 AM
Good point Oman. Blis is now doing everything that we've been waiting for. So if it does not work, if Blis really is not a very saleable product, then there really isn't anything else left to try.

But that would assume that we actually had a capable management team and board at Blis; if this product/company fails, don't blame the product or the economy - the product has amazing potential, it IS saleable. If it fails, it's entirely on the management's head, as other companies suffer the same economic conditions and startup difficulties and still prosper.

Don't get me wrong, I think it's great that from virtually zero activity in the 'pre-Barry' era we now have at least 'something' happening there, even though Barry & Co still cost us more than they earn us - that cannot be profitable business model, can it?

I think one thing needs to be clear here - first and foremost, Barry & Co see this company as a self-service money bank and take care of THEIR salaries; if there are any crumbs left for us shareholders, we'll get them. Yay.

simla
14-07-2008, 01:10 PM
Not sure if I can quite see it that way, Impatient! You can hardly expect them to work for years without a salary surely. We shareholders may not quite qualify for charitable status methinks!

Impatient
14-07-2008, 07:13 PM
Oh no, simla, don't misunderstand me. Of course I'm not expecting anybody to work for free; but whether the equivalent of $200k+ is appropriate for the CEO of a company that is haemorrhaging money is another question.

Ultimately we as shareholders are owed a decent return on investment, and with my money - our money as investors - getting gobbled up by staff costs, I see that payback moving further and further into the future....and perhaps never materialise if the company will have been bled dry. I think you get my drift.

Impatient
14-07-2008, 07:17 PM
...and let's not forget that they have had a FANTASTIC range of products for years (!) that they have been incapable of turning into a profit. I think that's what bugs myself and many other BLIS shareholders (especially the ones that got in early, unfortunately for them) the most. I'd assume you're not one of them as it would be perfectly natural to become...impatient.

simla
15-07-2008, 07:58 AM
Oh yes, I totally get the bit about getting in early. No, I wasn't there in those heady days. Really hard to say what the answer is about that. If nobody ever got in early, none of these companies would ever exist. Nevertheless, I still sense that (long years later) Blis is going to pay even that original investment back well. It's just a race now between Blis' rise and the world's collapse. If things were normal now, I think we would be very confident indeed about Blis' future. It is a bit like an Indiana Jones movie now - will our hero escape triumphant or will the mine collapse first?

Oman
16-07-2008, 12:25 AM
This is the link to the Jack Klein marketing team in USA. They look pretty professional to me. If Barry is harnessing these sorts of people to drive BLT forward things may work out okay.

http://www.jawassociates.com/our_team.html

On another point the owner's equity in the accounts is padded. 1.1m of the 2.1m owner's equity is a nebulous tax credit that may never eventuate, and the 550k capitalisation derived from patents goodwill which again has no tangible value until someone buys in.

So we have a bit of wool over the eyes there but we also have some positive movements in the USA, a possible move in Ireland and some much improved product packaging in NZ.

On balance I think the SP is a tad on the low side ...not that anyone is buying any anyway.

I don't expect any cornerstone shareholder in the present climate. Maybe after they pass the break-even point. It looks like the Jack Klein input might be the tipping point for that.

The other guy, Grant Washington-Smith, may contribute more with the skin care products in the pipeline.

Oman
28-07-2008, 10:31 PM
Do I understand that today the 28th the announcement is that the annual meeting is to be held 31st July and that proxy forms must be faxed by 11am tomorrow 29th?

The reason …the cynic might suggest is that somebody is standing for director who happens to be talking sense and asking all those questions that have appeared on this forum over the past year or so.

Do we now see the true colors of the BLT Board? They don’t want us to vote for change …do I smell a comfortable conservative Board with fascist leanings?

I hope everyone who attends the meeting votes for the man they DON’T want. It’s time to shake these people up a bit!

simla
29-07-2008, 08:05 AM
Not quite, Oman. There was an announcement on May 28. This one looks like being the new email based shareholder communication regime, instead of posting us these papers. This announcement certainly seems a few days late on the other hand, but for a first effort it seems pretty likely they did not realise what or when to do things electronically.

Anyone going to be at the meeting?

simla
30-07-2008, 10:39 AM
Oman, do you want to give us more detail of what you want? Obviously we would all like the outcome to be better at any time, but you seem to feel the company should be doing some things it is not doing. From where I'm sitting, they have a huge task getting an idea through millions of dollars of work to selling in the market, which they seem to be on the edge of achieving. 90% of new companies fail in the first year, let alone with a huge task like this.

Just asking.

Oman
30-07-2008, 01:19 PM
[QUOTE=simla;215402].. but for a first effort it seems pretty likely they did not realise what or when to do things electronically./QUOTE]

Hi, Simla.

I think the 28th May communication was a call for nominations. No GM date given as far as I remember. I did search for a proxy form immediately I saw the latest release and it was 6 hours later that one appeared on the BLT site. I had to rush around to an all-night Internet cafe to get my 'NO for their man' and 'YES to the one they don't want' vote in before the 11 AM deadline as I'm 5 hours behind NZ and was away from the office.

BLT asked for a report delay a few weeks ago and now they are pushing their own agenda through without listening ...or wanting to listen to the company owners, or to well founded criticism from a person who wants to join the Board to improve the management situation! They have some big internal problems.

I'm beginning to feel very uneasy with BLT management, but can't dump them at current SP.

I hope other BLT shareholders come alive and start taking back control of their company ASAP.

Oman
30-07-2008, 01:46 PM
Oman, do you want to give us more detail

We have been pushed into a corner as far as discussion is concerned. The proxies are closed and no one had any time to communicate with others or to consider the implications of the GM agenda.

When I read Dr Westphal's letter and his CV I can see that this man would be an asset to BLT. At present the Board is 'behind Barry R' ...which mean that they are allowing him to drive the company's strategic direction.

Along comes Dr Westphal and they close ranks to exclude him ...but he is saying everything we have been saying so why?

The answer is that he will distract them from their planned path ...but hey, can't they listen to constructive criticism? He may save the company from extinction! ...and why all these delays with the accounts? ...which were padded to the tune of $1.1m . In reality the full year accounts should show a loss of $1.8m ...but they've hidden the loss in the capitalisation and tax credits.

If I'm on the wrong track someone let's hear from you. This needs all be out in the open and ready for questions at the GM.

simla
30-07-2008, 03:16 PM
Oman, thanks for more detail. I like to learn, so this is just some reaction in the hope of learning more.

I get where the capitalisation has maybe overstated the profits by 500,000. It is a tough call on whether that is misleading or not, as they are obliged to spread capital expenses out over the time of expected income under accounting rules. They do not appear to have done that to all the costs, although the accounts do not exactly make clear what money is going where, do they.

But I cannot see where the tax credit has affected the profit. It does not seem to appear in the income statement nor the cash flow statement, although it is in the balance sheet so logic tells me it must have been there somewhere. What did I miss please?

The 28 July announcement on NZX is also on the Blis website, where it is dated 2 July. The "properties" of the announcement there dates it to July 1, which is consistent. But I haven't been to the website for a while, as I rely on announcements on NZX. Has it been there all month then? I actually do not get how the new electronic communication is meant to work, as I have not received any emails from the company, which I was expecting in substitute for mailed stuff. Has anyone else? Are we expected to visit company websites all the time?

Also, I am still not sure what you think the company should be doing. Yes, they are obviously sticking up for Barry, but he has only been there about a year and there is no evidence that his stuff is failing, whereas some of it is definitely proceeding. And Dr Westphal appears to be an academic himself from what I have found on the internet (but I am not sure obviously), and his letter did not seem to tell us why he would be good apart from being annoyed, so that could easily be why they are not trying to be supportive of him.

Impatient
31-07-2008, 05:05 PM
Ok, I take everything back. It all looks positive, the management team is amazing, and things are definitely looking up. Please all go and buy some Blis shares!!!!!!!!!

simla
31-07-2008, 07:35 PM
I THINK you're being serious Impatient? It did sound pretty good on the whole. The Irish population is only 6 million, but the company sound like they like to go out and make stuff work, so that is potentially good. Last year's NZ sales were $200,000, with $450,000 offshore. If Ireland brought in $300,000 (they presumably have to buy some stock in first year anyway?) and the others increase by 30% or more, that would get close to eliminating the trading loss without further deals. Add in other sales and the potential is almost there for a small profit this financial year. Except that it will take time to get sales going, of course. Got to be good though?

The cornerstone shareholding continues to confuse me. I can see that cash seems to be welcome in Dunedin to push ever more projects, but I cannot see otherwise what it is about. Ideas? The continual spending on new projects presumably will pay off in faster growth, but it does rather seem to perpetually threaten present profits.

So retail sales potentially produce a small profit this year or shortly thereafter. They might produce a decent profit in time on their own, but the neutraceuticals remains the best bet for producing larger revenues?

Impatient
01-08-2008, 05:48 AM
I THINK you're being serious Impatient?

Maybe I am, simla. Or maybe I'm hoping some suckers drive up the SP high enough for me being able to offload my shareholding without TOO much of a loss (I'm just over Blis, sorry; I can't share your optimism) - I guess you'll never know :-)

simla
01-08-2008, 07:23 AM
Okay, Impatient. Being "so over" something is where we've all been, and yes, nobody comes back from there. I can certainly understand it in this case, as I also hope my optimism is justified. And of course there won't be an actual profit this year, just a trading profit at best, because of the ongoing projects that keep appearing over the horizon.

Impatient
01-08-2008, 11:33 AM
Okay, Impatient. Being "so over" something is where we've all been, and yes, nobody comes back from there. I can certainly understand it in this case, as I also hope my optimism is justified. And of course there won't be an actual profit this year, just a trading profit at best, because of the ongoing projects that keep appearing over the horizon.
which is probably why after all those FAB announcements yesterday the SP still ain't moving. SOMEBODY pls drive it up to about 22-23cents :-) pretty please....

simla
01-08-2008, 12:55 PM
Impatient, do you think I should change my name to Patient then!

I first came in when the price was about 25c (4 or 5 years ago?). I'm afraid my guess is the price will not get up there again for 2 or 3 years yet, even with revenue currently growing at 30% to 40% compound. But at that stage it will probably be a mistake to sell out, since the revenue should have a fair chance of continuing to grow at that rate.

The big news for me now is that, finally, I really cannot see this company going bankrupt now. With likely revenue of at least $1 million this year, it seems to me this company has at last got a definite future. Doesn't make up for the years past, but there is nothing to be done about that now except shed a few tears maybe.

Impatient
01-08-2008, 05:17 PM
Impatient, do you think I should change my name to Patient then!


Go on, I dare you :-) But don't change it back when
a) you're still sitting there staring at a 5c-8c share price in 3 years' time or
b) you'll read Barry's announcement in 2009 that due to the recession, rising costs and blablabla the company has no more funds to go on.

Hopefully either won't come true, but the auditors weren't too optimistic either, were they?

Anyway, pls don't talk about PERCENTAGE growth in revenues - from a miniscule base any extra dollar looks like a huge growth. When we have multi-million dollar annual growth values, we can talk again. Till then, STAY POSITIVE :-)

simla
02-08-2008, 06:27 AM
Okay, we can continue this in 3 years!

THEONE
02-08-2008, 05:13 PM
Anyone go to the AGM? any more news?
I found this in the Otago Daily Times, which is quite significant.

while research revenue from food giant Nestle stood at $470,000 to date with an expected $750,000 by the end of the year.

Toddy
02-08-2008, 08:28 PM
Anyone go to the AGM? any more news?
I found this in the Otago Daily Times, which is quite significant.

while research revenue from food giant Nestle stood at $470,000 to date with an expected $750,000 by the end of the year.

Never read anything into a billion dollar company handing out chicken feed for a bit of R&D.
Maybe a couple of Nestle R&D managers needed an excuse so that they could have an annual ski holiday in Queenstown.

Just balancing the statement.

Lizard
03-08-2008, 05:18 PM
Even for Nestle, I doubt that sort of money is considered R&D poultry comestibles...

simla
10-08-2008, 09:22 AM
Blis K12 Throat Guard was in the LifePharmacy junk mail this week, which is the first time I have seen it advertised in NZ for a very long time. It was on the same page as Codral, Coldrex, Sudafed, Strepsils, and Robitussin, which is probably pretty sensible positioning. Pretty late in the season of course. Anyone seen it in any mainstream media?

simla
11-08-2008, 10:18 AM
Can anyone explain to me why there are ALWAYS shares for sale for 6.5c? It is only ever about 20,000 shares, but it is always below the price where the market has shown willing to buy. And whenever these shares are bought, another parcel of the same size and price appears soon after.

The only plausible explanation I can see is that someone is trying to keep the market down. But the advantage of doing that defeats me. Wiser heads than mine out there please?

Oman
11-08-2008, 11:55 AM
Possibly a broker placing a standard low bid and waiting for seller offers?

Impatient
11-08-2008, 05:48 PM
I just think that's what someone realistically thinks the shares are worth and he or she's happy to offload their shareholdings at whatever price possible. If they believed they were worth more, I am sure they would ask for more (who wants to make LESS money than possible?)

I have a suggestion though, simla - BUY them if they are actually below the 'normal' selling price. Take a mortgage out and buy as much as you can, ha ha ha. Or do you perhaps truly think they are not the bargain you make them out to be (of yes, and let's applaud the one pathetic little mailer ad in...how many years?)?

For someone to 'try and keep the market down' sounds like some far-fetched conspiracy theory to me. Any suggestions as to who shot JFK? :-)

simla
11-08-2008, 08:46 PM
I believe Cock Robin has already confessed to shooting the arrow!

I did buy some to see what would happen, and sure enough the offer just reappears after a while. I would cheerfully buy more, but as you point out, resources are ultimately limited. I think the price is low mainly because everybody who wants to own Blis shares has already shelled out over the years and now draws the line. That is quite different from selling pressure though, which does not seem to exist.

simla
11-08-2008, 09:17 PM
Impatient, it is hard to argue with your logic that they are selling at that price because they think that is what it is worth.

So, another question for people. What profit would Blis have to declare to justify a share price of 10 cents? Then, how much would revenue have to increase to achieve that? Does anyone see that revenue happening under current plans? (Or does everyone agree with Impatient that it isn't going to happen?)

Oman
12-08-2008, 09:23 PM
The market today thinks 5.3 cps is okay, possibly because BLT only gives the market so little info.

If the sales figures actually start to show growth the SP may move upwards, but currently there is a lot of hope and little substance ...and its' August already. I can't find anything new about Ireland or the USA sales online yet ...and who needs K12 for colds during a northern summer anyway?

Does anyone know anything about the new Director, or whether he paid for those 2m shares that were declared last week?

There's so much going on off-stage and in secret that it's no wonder people are off-loading BLT.

Impatient
13-08-2008, 09:51 AM
Good question Oman - I couldnt get that info from the announcement either (ie did he pay for it or not). Some of you seem to have a very good connection to the Blis people - can somebody pls ask?

KentBrockman
15-08-2008, 09:09 AM
Has this been discussed before?

http://www.scene.co.nz/content/dunedin/date/august08/150808/7247/under-their.aspx

Oman
16-08-2008, 12:16 PM
What profit would Blis have to declare to justify a share price of 10 cents?

If they hit NZ$2m in sales I'd expect SP to be around 10cps.

That level of sales would cover costs and include a small profit instead of the continuing red P&L we're so accustomed to. It's also a reasonable target for BLT to have for the next 12 months.

simla
17-08-2008, 07:31 AM
Thanks for the feedback Oman. That is about how I see it, although I think slightly less would do. It is a big increase in sales, but there are quite a few irons in the fire now.

Also, last year's report talked of breaking even, and this year's is talking of positive cashflow, so they are also aiming higher too.

By the way, did anyone notice that the effect of capitalisation last year meant their declared loss was about equal to their declared cash loss from trading? (A circular argument admittedly). If ... If ... they intend their declared profit to represent their trading profit in future, and they were of the opinion that the trading loss was very small in second half last year, then maybe ...

Impatient
09-09-2008, 12:17 PM
Funny how quiet it got here in this forum since the AGM.

Simla, what's happening? Have you lost faith in the company now that the Buy/Sell price is at 5.1/5.5c? Are all those investors morons that don't buy at such a bargain price? Tell me. Say something, ANYTHING as I'm going to have a breakdown if this tragedy that is Blis continues.....

Oman
10-09-2008, 05:07 PM
I can find nothing at all about progress in the USA or Ireland. I assume Barry is very busy trying to save the company ...and especially his share of it …no time to keep us informed.

Or maybe there’s nothing to inform?

simla
15-09-2008, 10:51 AM
Nice try Impatient! However, we all know that the Blis share price means nothing if and until a profit is made. Up till then it is simple speculation. We are waiting for only one or two pieces of news now, and they will either happen or not, there is no leading up to them particularly. I have never denied that the Blis situation is still open to bad news, but I really see no particular reason for believing that is the current situation. They still have markets, and they still have cash. Ireland is still in summer, so hardly much rush to go with Blis there yet presumably. And the US neutraceuticals expo is in October I think, so that story is likely to be a slow one to develop.

I confess to being disappointed with the Blis profile in NZ though. The winter opportunity seems not to have been exploited. Has anyone in Auckland seen anything more, as small marketing efforts often get concentrated in Auckland?

The interesting thing about the share price, to me, is that it appears to come and go with the "US safe haven" mania, which suggests there might be rather more foreign money in Blis than we might have imagined.

Bobby_Fischer
15-09-2008, 11:34 AM
Looks like Geoff Speiser is still growing sales at a healthy rate: http://www.smartcompany.com.au/The-2008-SmartCompany-Awards/BreezeCare.html

And this is really just the tip of the iceberg, isn't it, considering his particular niche?

simla
15-09-2008, 01:30 PM
Well spotted, Bobby. Pretty obviously Geoff Speiser would be pleased to drive Blis into profit single handedly if he can. With offshore sales reported here at $450,000, against his sales of $1.9 million, he appears to be making way more money than Blis from the product so far, but at least that is a great incentive for him. Good that he is gearing up for expansion anyway.

I think things are quiet here because there is nothing on the boil. The only news we might be expecting would be:

1. The US neutraceutical product has launched. Well, we haven't heard it has been cancelled. Merely seeing it appear, on the other hand, is probably not going to tell us a lot.
2. Significant sales into Ireland. Well, that is not that likely in the first year, and in any case winter does not come there for a few months yet.
3. The half year report at the end of November, which is therefore probably the only real news we can next expect.

Let's face it, the NZ sharemarket is so thin that usually nothing ever happens between half year reports. That, and the fact that the entire world seems to be sitting around holding it's breath, waiting to see how big the backwash from America is going to be ...

Oman
16-09-2008, 04:32 AM
Thanks for that news Bobby. It's interesting that Geoff Speiser was doing well in the USA before BLT pulled the plug. Presumably because Barry thinks there's too much to be made for it all to go into Geoff's pocket.

That news snippet fits with the recent appointment of Grant Washington as USA sales manager.

Impatient
16-09-2008, 07:38 PM
'BUY' offers today at 3.3c.....very promising

Oman
16-09-2008, 11:38 PM
'BUY' offers today at 3.3c.....very promising

Be a devil Impatient ...jump in!

simla
17-09-2008, 07:51 AM
Nice one Oman. Actually, there are only 370,000 shares currently on offer for sale, even if you include the ones offering at 8.5 cents. Whereas there are currently 136,829,042 shares in total apparently. So, no one much is actually willing to sell, even if no one much is buying. The last time shares sold in any real volume was around April 2007, when several million changed hands over a small time period. By my calculations, then, a mere 0.2% of the shares are currently for sale in the middle of the biggest crash since 1929 (according to the newspapers). So the share price reflects a lack of buyers, not a deluge of sellers. Needless to say, and as always, I find that encouraging.

THEONE
25-09-2008, 06:08 PM
I just bought the new Bio Restore with the new shiny metalic packaging, which is an improvement. They have changed to plastic bottle instead of glass.
They also have DSM Lafti strains instead of Howaru

Anyone else spotted any news?
Its a bit depressing waiting for news with the share price dropping.

Interesting to see Eion Edgar will recieve aound $38 Million from Mrchips sale.
.

simla
26-09-2008, 08:06 PM
Yes, it is not the stuff to warm the heart. Today, there was a sale of 50,000 shares at 3.9 cents - shares that someone just wanted to dump at any price presumably. Still very low sales volumes though, even if the prices is dropping. The fact remains that the share price has no influence on whether the company will make a profit or not. The question is not whether the price is dropping, but what effect this psychological and financial state will have on sales and on new markets taking up the product. Irritatingly, only time will tell.

simla
29-09-2008, 10:23 PM
Impatient, what's doing? With the pillars of the world's financial system exploding before our very eyes, the chances of Blis turning out a spectacular result just now are surely a little diminished. These results could be a clear victory to your point of view, but you aren't even staking your bet on the table. We won't hear for a couple of months, of course, but now is the end of another financial half year. I may argue with your point of view, but I do respect your ideas. What do you think will have happened?

simla
05-10-2008, 08:07 AM
Come on guys. Things are happening and nobody is saying a word. Well, I'll have a go at the maths of this.

The sales revenue of Blis falls into two bits: the existing sales, and potential new markets. Now the existing sales are potentially subject to downturn, so let's say they might go down by 10%, 30% and 60% as mild, medium, and worst cases. Against that, the potential new sales must surely carry a potential of at least doubling sales. And as well as both of those, Blis remains in a growth market, so even after a downturn it would seem reasonable to me to think sales would continue to grow at 30% a year, say 20% if things are bad. Why should news of the product not continue to spread just because there is a general downturn?

So, a mild downturn of 10% would still be attached to a 20% growth, and things would still be doing okay. Even a medium downturn should still attach some growth at the same time. However, a serious downturn might produce a 60% drop in sales, and that would be complex, because if sales growth was 20% at that time, it would take several years to recover to where we are now.

However, any of these would be swamped by a new market coming on stream, in which case Blis would be doing fine. Indeed, even if you take the serious downturn situation above, requiring several years to recover, that still requires no new markets coming on tap at any time during those several years.

So, judged from the profit point of view, it seems to me that the credit crunch should not have a severe long term effect on Blis, chiefly due to the fact that it is still in a growth phase. It could have a big short term bump, of course, and we won't know that till the next report, and the one after that perhaps.

The other question then becomes how much money Blis has in the bank to carry forward. As at 31 March 2008, Blis reported cash and short term deposits of $844,000. and in July announced a cornerstone share sale of $500,000, with the option for the cornerstone to buy a further $1,500,000 should they choose. Is this enough to weather any downturn. My guess is probably, and additionally the cornerstone shareholder is traditionally meant to be interested in getting out a cheque book when required. And of course, at such point as one of the other markets came on stream for Blis, I would have thought that this cash position was quite ample.

So, as usual, I remain optimistic. However, the above is complete speculation. Any one else?

THEONE
05-10-2008, 08:45 AM
Hi Simla, looks like the Blis bug has caught us both.
I have been a Blis shareholder for a few years now and so far have made
a substantial loss.
However I am still extremely confident about the company, my main worry is the timeframe and share price.
I think eventualy they will get the International sales, then maybe then they will do a capital raising.

All the while I expect alot of investors to bail out once the share price increases a little bit.
I think we might see some action before 31/3/2009 that is when the agreement expires
with Edinburgh expires.

The directors, John Tagg and Barry Richardson all have alot of money invested in Blis which is great.
Barry Richardson even though the International sales havent yet happened is doing a great job. He has done alot of the ground work to grow the company.
He is after the big fish which will grow the company sales significantly.
Unfortunatley big fish can take a while to catch.

I find it interesting that they are looking into other production in India and USA,
I think i remember reading that the existing facility Alaron has capacity for 2 million units.

Hopefuly the economy dosent stop sales in USA to much.
I cant but think they must be onto something otherwise they would have given in and gone after the "little fish"
I constantly look at NZX releases and do google searches hoping for some exiting news releases.
Hopefuly there is something to smile about in the half year report.

simla
05-10-2008, 07:59 PM
Thanks, TheOne. I had a go at the maths, but you picked up the psychological situation very nicely. Yes, I think we are all sitting on losses, of course. I am pleased to hear you are "extremely confident", as this situation sure challenges the spirits sometimes! Good point that the underwriting provisions are there because they expect to use them, but I did not read it that that part of the deal expired in March, just the share issue. Thanks for the chipping in.

Chippie
05-10-2008, 09:57 PM
Hi all
I continue to watch BLT with interest. Like everyone else it has been a costly exercise so far.

The product is 100% the goods (for bad breath at least). For that reason I am still in but did sell half my shares at 6 cents not so long ago (to purchase PRC)

I have had a few emails with Barry, and I for one think that he gives us a real chance of success.

Good luck!

simla
07-10-2008, 05:58 AM
Seems like we're going to ride this one out then. With a category 5 financial hurricane outside, I guess that just leaves us to hold on to our hats pretty hard. As you say, Chippie, good luck to us all!

KentBrockman
18-10-2008, 11:08 AM
I sold out of this dog a long time ago....but here is something for the eternally hopeful:

http://www.naturalproductsinsider.com/hotnews/frutarom-forms-alliance-with-blis.html

Excerpt: "“This is a significant opportunity for us to expand our business around a product with both an exceptional safety profile and excellent record of clinical validation for its effectiveness in preventing many common infections of the upper airways and oral cavity,” said Laurent Leduc, vice president USA Health Division, Frutarom USA. “The great thing about BLIS K12 is that it has no peers in the market. This product is unique and with the patents around it, it will likely remain that way for a long time”

simla
19-10-2008, 10:59 AM
Thanks Kent, kind of you. You've obviously made more money than the rest of us so far by your selling out!

"... to take on responsibility for all North American sales and marketing, warehousing and distribution activities for the BLIS K12 probiotic". So does this mean they are selling the Blis bottles as well, or just the additives, which seems to be their business. No doubt hear more from Blis later.

Blis has so many deals on the table now that it is hard to see how the money cannot flow. Yet so far we have not heard that it is doing that. Blis is such a unique company, it is hard to think of any precedent to predict where it is going, let alone a precedent in the current financial turmoil as well.

http://www.nutritionaloutlook.com/news.php?newsID=166 ' “Frutarom is a very proactive company and have already secured orders for BLIS K12, even before the ink was dry…(the merger) represents further expansion of our commercial development for BLIS Technologies and it builds on our existing research relationships with Nestle Nutrition in Switzerland,” said Barry Richardson, chief executive of BLIS Technologies Ltd.' I sure hope Blis confirms these 'secured orders' in an announcement in NZ.

Also http://www.supplysideshow.com/west/8a1vend_introducing.html - a joint talk by Frutarom and Blis at the SupplySide West mentioned.

KentBrockman
20-10-2008, 06:08 PM
Here is more:

http://www.voxy.co.nz/business/blis-reaches-agreement-novel-probiotic/5/4337

Chippie
20-10-2008, 09:59 PM
All positive news.

Kent, I appreciate you sharing the press releases. You obvioulsy cast your net wide and far to get information.

simla
21-10-2008, 12:08 PM
So now we have:

1. Frutarom, a global neutraceuticals/food distributor operating into the US, who apparently has "already secured orders" and will launch "in Europe and Asia in early 2009" (Blis statement yesterday), and is "among the ten leading companies in the world, in the field of flavors & fragrances", and has "more than 10,000 customers in 120 countries, has 25 R&D labs and 45 sales and marketing offices throughout the world and operates 18 production facilities in Europe, North America, Israel and Asia. Frutarom employs 1,500 employees worldwide", according to their website.
2. Whelehan Group, an Irish distributor with 1300 chemists who has taken a first shipment, with winter coming, and is "one of the largest value-added sales and marketing organisations in Ireland" according to their website.
3. Breezecare, which was expanding strongly last year and won an award in 2006 "for achieving outstanding commercial success and sustainable growth", and 2008 "Hottest Start-up Company" (Breezecare website).
4. Pharmabroker in NZ, where "sales in NZ have increased in unit volume" (2008 Blis report).
5. Nestle looking at infant formula for about a year and a half now, and presumably liking what they see since they have not walked away.

Bobby_Fischer
21-10-2008, 01:17 PM
A bit more detail in this ODT article: http://www.odt.co.nz/news/business/28238/blis-secures-global-distribution-deal-probiotic-product

- "it's Big"
- "It really sets us up."
- "a "significant" increase in sales over the next few months."

It all sounds good, but I'd love to see some numbers.