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
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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
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.
Good article in the Dom this morning.
http://www.stuff.co.nz/4154865a13.html
Choice, Chippie, thank you for the hyperlink.
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).
Hey THEONE, edit the heading to Blis, not Bliss!
I'm surprised PT hasn't pulled you up on that...:rolleyes:
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.
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.
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.
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"
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...
Hopefuly the rights issue will be annouced soon.
Maybe we will get some positive info then, to boost
the share price.
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.
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.
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!
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,
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?
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.
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.
Wonder when the notice about rights issue will come out,
In the powerpoint they said EGM at end of month.
Anyone got any News?
They will be claiming they have found a cure for baldness next.
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.
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.
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
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.
Be very careful since Howard choked on his chip a lot of these stocks have no direction....
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)?
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.
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!
If some one knew something the sp would be heading up a little more than it has.
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.
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
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.
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!
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.
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.
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.
maybe DSM is in discussion to buy into BLT and therefore negate the issue of a share placement to the shareholders?
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!
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.
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.
Hi Bobby whats your view on
the delay with the rights issue?
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?
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.
Hi Bobby, i havent contacted blis.
Maybe wait a couple of weeks.
Actualy I am looking to buy some more especialy
at todays prices.
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.
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.
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.
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.
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.
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.
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.
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!
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
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.
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!
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?
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.
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!
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.
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.
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?
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?
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!
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!
:)
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.
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).
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!
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?
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
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...cs-paediatrics
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
There is a new pdf with more info at www.blis.co.nz.
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.
So who was it? Or is ignorance Blis?
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!
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?
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.
K12 saved by the K9?
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 received his today in the dunedin post...
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)
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!!!!)
...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?
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
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"
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.
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.
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?) :(
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.
My point exactly, not in the shareholders best inerests at all.
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.