BLT - Blis Technologies

[simla]

Well, another board member appointed. https://www.nzx.com/announcements/324578

Funny, there was one vacancy in May 2018. "In addition [to this appointment] BLIS will be looking for another board member" https://www.nzx.com/announcements/317597 And then the shareholders appointed one. https://www.nzx.com/announcements/321700 Yet they appoint another one anyway?

But how many directors are there? I missed that there were only 5 during late 2017 https://www.nzx.com/announcements/304753, instead of 6 as before. The resignation in May 2017 was not replaced until the appointment in May 2018, then two resigned at the AGM, and one was elected, still leaving only 5. Now this new appointment takes it back up to 6 for the first time since May 2017. By my count anyway. I seem to have missed this because the 2017 company report predated the May resignation so listed six, and then the November report did not list the directors at all so it was not evident. And then the list was quite complicated in the 2018 report so again I did not notice.

So that will be three new directors out of six (by my count!) so room for a detailed review of what they are doing? I do not see how much can have changed since the July AGM by the November report coming up, and neither do we know if they are looking to change anything. But half the board being new to the strategy of the last two years or so must indicate some room for review of where the company is going. Or maybe everything is going tickety boo and good news is about to flow.

Anyway, the new director seems to have a good history so potentially good. She is CEO of FAR ("Making cropping the highest returning land use for New Zealand farmers. "), as per the announcement, and here is their strategy statement https://www.far.org.nz/assets/files/...29fc5f1e2c.pdf I like what FAR stands for and I like the clarity and communication power in that statement. Could be a good addition for BLT and kind of her to make herself available.

I keep dithering over whether to buy back into BLT in a small way and see the journey through now that the company has been made aware of shareholder views through the vote. I'm still dithering though.

[Leftfield]

Keep dithering Simla..... they need to get some runs on the board (pun intended.)

[simla]

I always think a candle burns in the darkest night.

But yes, the company presently faces issues over stalled growth, stalled profit (loss), and patents looming. There was an EBITDA of -92k in Q1 already Q1 Announcement, with ITDA probably another -150k (based on 2018 full year p3 2018 Annual Report), so Q1 was probably a loss of about -250k. Just breaking even for H1 would therefore appear to require an EBITDA for Q2 of about +400k ( EBIDTA Q1 + EBIDTA Q2 + ITDA Q1 + ITDA Q2 = 0 or -92k + 392k -150k -150k = 0), which would be an increase on EBITDA Q1 of about +500k, with sales in Q1 being 1640k. That would appear to be a difficult objective.

(I think that is right, but check it yourself as usual.)

But admitting you need to achieve a goal is always a huge step forward and half of the board are coming at this from a fresh perspective now, so room for candle holders.

[winner69]

Wonder how the Blis ginger lollies are going

[fungus pudding]

Wonder how the Blis ginger lollies are going

And what about the ice-cream?

[steveb]

Blis are offering shareholder discount,which seems a good idea,as they should be preaching to the converted.I have often found the Blis product I wanted was not available in my local chemist9or got talked into something else by the pretty sales assistant)
Now you can apply for a discount code and purchase online,just one teething problem my discount code was not recognized!So can't advise you on the discount available

[NeverQuestion]

Blis are offering shareholder discount,which seems a good idea,as they should be preaching to the converted.I have often found the Blis product I wanted was not available in my local chemist9or got talked into something else by the pretty sales assistant)
Now you can apply for a discount code and purchase online,just one teething problem my discount code was not recognized!So can't advise you on the discount available

Personally, I have gone on a hunt for BLIS products in every new Chemist I come across. Yet to find it. So I think a bit of growth in just the domestic market that can be made.

[artemis]

Personally, I have gone on a hunt for BLIS products in every new Chemist I come across. Yet to find it. So I think a bit of growth in just the domestic market that can be made.

Mostly available in wellington CBD pharmacies, but only one or two products usually. I think M18 products could be marketed to / through dentists. Sure, it will do them out of some business but dentist endorsements must be worth a lot. My dentist had never heard of it earlier this year, though had heard of other BLIS for sore throats.

[simla]

Well, November starts tomorrow and another report due soon. I have been chewing it over quite a bit and I think the only really solid news that shareholders could be pleased with would be clear action on reducing costs significantly. I don't know if that is feasible. But we have seen revenue grow significantly over the last few years and yet always the costs have grown too. So even a jump in revenue now doesn't promise a lot of impact on profit unless the cost structure changes. Or that's how it seems to me anyway.

If the costs are strongly cut then the present share price seems to me to be too low. But if not then the share price seems to me to be too high. I say that because the costs seem to me to be the main driver in profitability now, and considering too the unknown outlook on patents. I think the current share price probably requires a profit of about a million to stack up to anything half understandable. Well, that could happen if costs are strongly addressed but hard to see it happening otherwise. To me anyway.

Just my musings. Disagreements welcome. Still not a shareholder presently but might look again if they have clearly addressed costs. It certainly will be interesting to see if board changes filter through to the report in any way.

[pierre]

I visited the hygienist at my periodontist again yesterday for my 3 monthly check up and scaling. She was impressed at the condition of my gums and asked if I was still taking the Blis Toothguard. I confirmed I was and she said well it's obviously working (in conjunction with plenty of cleaning & mouthwash etc) and extended my next visit to 6 months.

She said Blis often has a stand or display at dental conference events she attends but is still not that familiar with the product - neither is my regular dentist.

Not sure how you get dental professionals to recommend a product that will have the effect of reducing the amount of business walking in their door. Maybe they could be set up as stockists to promote and sell the product so they get the retail margin?

However Blis have been quite active with email promotion over recent months and have now offered a shareholders discount. Maybe preaching to the converted but at least there's some marketing action under way.