BLT - Blis Technologies

[emearg]

The only reference to global Gourmet was an ODT interview with the staff at Gourmet who said maybe they could export it eventually, as I recall it.

From the AGM presentation in July:
BLIS Functional Foods trades as Gourmet Ice Cream. BFFL allows BLIS to evaluate food based product & delivery concepts for its probiotics locally. Strategic intent is international markets.

The one in 2011 was aimed at expanding in Australasia initially...

So again I say I am glad they pulled the plug but only after achieving a 'fail'. Let us not forget they made a bad decision. Wasted our money.

[simla]

BFFL allows BLIS to evaluate ... its probiotics locally. Strategic intent is international markets.

I'm quite sure BFF has international intent and I look forward to finding out just how they intend to do that. A tiny factory in Dunedin was never going to do that without major action, which action has certainly not been ruled out by this action. "Gourmet" is a terrible name as you couldn't possibly trade mark it anywhere in the world, so they were always going to have to do more. Can't see any road block there.

But it does say "evaluate" locally.

It's certainly not a fail yet, even though I wish Gourmet could continue. They are giving up on selling ice cream directly and are licensing it out instead. Yes, they may not manage that. But they have a good proof that it sells well here, they have new laws allowing it to be advertised so it's a good idea for someone, and they personally have good contacts in the NZ dairy industry. "Maintain supply" implies fairly quick intent too.

I get that people are sick of sudden announcements that don't have much sex appeal. But it's not like we haven't been there before. But that's different from saying we're doomed, when I can't see that the last announcement changes things very much at all on that front once you pick it apart.

ps. If my brand theory is correct, then this is not a fail but in fact a step on the planned path. Think the Pams brand at the supermarkets. I'm quite sure they manufacture nothing at all, but it's obviously a valuable business strategy. If Blis intend to get value by owning intellectual property (patents, brands, trade marks etc) rather than manufacturing too much then the word licence is going to show up more and more from here on in.

[simla]

Well, thanks for the feedback anyway. I come here to discuss publicly available information and that's the point. It was a pretty challenging announcement and apparently I'm pretty alone in thinking it could be consistent with "moving forward" as stated. Okay, that's useful information and thanks. I expect we'll learn more in May.

[CJ]

This announcement was a package of decisions, and I assume they are rational people, so they did this for a reason. The market has plunged the price dramatically because they take it to be very bad news. But nobody seems inclined to think these people must be doing things, and maybe there's another side to this, and nobody is looking for another view of things. I'm trying to. I mean, the fact (if true) that they can now openly advertise GRAS foods in NZ/Aus is major news in my book, but I don't think anyone has even mentioned that I posted that, for example. Why the determination to see things badly?

I have read the link you posted above (http://www.foodstandards.govt.nz/con...relatedclaims/) and I agree that there was no point growing the Gourmet Brand as a 'health product' as it would be banned in 3 years (I assume it was high in sugur).

The seem to open the door for something like http://www.symbioyoghurt.co.nz/ and I assume that is where they will head, though under license, rather than produced inhouse.. I have just reread the announcement and I have reverted back - the announcement isn't great as it only says they 'intend' to continue to supply under license.

[winner69]

WTF .... some idiot sold a few bobs worth at 1.8

Whats up?

Mention of whatsup .... anybody know what happened to him/her .... miss theor poata

[THEONE]

I was in New World victoria park yesterday, there was lots of Gourmet ice cream available. The packaging of some of the non Blis versions actually looks quite good. Its sad about gourmet shutting up shop. Would love to know more.

I found it strange that Blis only owned 90% i think. the remainder owned by the Gourmet Ice cream founder. Maybe that was part of the reason. I would like to know more detail about why the restructuring is costing 500k. Seems alot, are they buying some new machinery for Probiotic production?

Why is Gourmet not being sold as a going concern? Last year it was worth $250k and alot has since been invested.

I assume Mark Scorgie dosent own 10% in Blis Functional Foods?, just Gourmet?

Ice cream manufacture requires scale. Last year I read about a NZ company in New Zealand outsourcing their production to Fonterra.

Its hard to know how to if this good or bad news. Perhaps they are already getting traction with some big dairy companies. With foods sales I presume the sales need to be a minimum level, no point selling to a tiny yoghurt company.

In regards to the FSANZ, it looks as though at this stage they can put the bacteria in the foods however cannot make health claims because they are not on the approved health ingredient list

[simla]

Thanks for that, TheOne. We'll find out what use the company makes of it eventually. They obviously had a plan when they bought the company, but I'm not sure that we'll find out whether this was it or whether it went off the rails or not. 250k sounds a lot, but a proof that you can sell Blis as a food is surely extremely valuable to BLT, so maybe that was all they wanted. Or maybe it didn't go as they hoped, as Emearg says. For example, the supermarkets have got very aggressive during that time which may have changed the outlook, or something like that. My guess is that they hoped to have more cash to make the decision easier by now - that they always knew it would be marginal but hoped to be in a position to run with it anyway, but decided to kick for touch instead. Or maybe the plan was always to licence it out now as per the statement, but then you'd think they would have that in place if so.

But BFF remains a flag staked in the sand and I'm sure we'll be hearing a lot more of that. I think my ideas on brands etc probably will prove to be true, but we'll see. As to who owns it, here's the companies office. http://www.business.govt.nz/companie...panies/3289468 If it was me, I might have some sort of option in place too, but who knows. (ps that address you sent me didn't work.)

[THEONE]

Hi Simla, I tried sending a private message, but it is blocked. Sorry I am not sure which address i sent?
I think Gourmet Ice Cream became BFF, however surely any Blis K12 icecream sales now will be 100% attributable to Blis? I am probably just over thinking this, everything should be ok in the "wash up"

[skid]

Dang! 1.6 close

[Nigel]

Wouldn't be surprised if it hit 1 cent again. The good news is not forthcoming, rats leaving sinking ship!

I'd be surprised. 1 cent would value the company at around 6 million dollars. That seems ludicrous for a company with quality products and more in the pipeline.