BLT - Blis Technologies

[Flugenbear]

I agree 100% Simla.
It seemed to be working before....
It certainly ain't now.

[CD_CHCH]

I have a very small holding - purchased them as I have used the product and found it to be extremely effective - everyone I have recommended the product to has reported the same results - it really works. At this stage I am well and truly underwater with my investment (more than 50% down) and intend to vote for Barry as my feeling is the current management has lost its way - plenty of talk about growth and opportunity but no credible results to back up the talk.

[simla]

I have a very small holding ... and intend to vote

I think this is an opportunity for smaller shareholders to stand up and be counted one way or the other. It will be interesting to see how many bother to do it.

[winner69]

I agree 100% Simla.
It seemed to be working before....
It certainly ain't now.

Seemed to working before ........That Barry guy presided over $12m worth of losses in his tenure

Certainly ain’t now ........since he left retained losses have only gone up $1.3m


I see Boyd is still on the Board .....wasn’t that impressed with him when I worked with him years ago and he couldn’t got any better. Wonder how old he is now?

[simla]

since he left retained losses have only gone up $1.3m

I guess that might depend on whether you think the company might have made a few million since then too, which obviously hasn't happened. That would be a question for each shareholder to decide for themselves. Management changed over during 2016 recall.

(000s)	2013	2014	2015	2016	2017	2018
Total Expenses	2959	2863	4004	6477	6571	6330
Employee Benefits	697	878	1203	1671	2024	2251

Source: Annual reports. Obviously I have checked but I'm only human. Do your own research as always.

[winner69]

I guess that might depend on whether you think the company might have made a few million since then too, which obviously hasn't happened. That would be a question for each shareholder to decide for themselves. Management changed over during 2016 recall.

(000s)	2013	2014	2015	2016	2017	2018
Total Expenses	2959	2863	4004	6477	6571	6330
Employee Benefits	697	878	1203	1671	2024	2251

Source: Annual reports. Obviously I have checked but I'm only human. Do your own research as always.

Seems a good place to work ...esp if senior management?

Spose strategy is to keep the gravy train going as long as they can

[simla]

You made me curious. On further examination of the annual reports:

	2013	2014	2015	2016	2017	2018
Employees over $100k	?	2	2	2	7	6
Cost est from pay bands	?	380k	380k	440k	1140k	920k
Reported key personnel cost	?	389k	480k	1082k	1216k	1228k

I'm not sure about the odd figures in 2016. Both figures are from the report, but the key personnel costs does include the word contractors so maybe? The report did say "This has involved outsourcing of specialised personnel capabilities until these resources can be internalised, including appointments for Quality Control Manager, Chief Financial Officer, and Brand and Marketing Manager."


Source : Annual Reports. Again, I checked carefully but do your own research.

[winner69]

You made me curious. On further examination of the annual reports:

	2013	2014	2015	2016	2017	2018
Employees over $100k	?	2	2	2	7	6
Cost from pay bands (est)	?	380k	380k	440k	1140k	920k

Source : Annual Reports. Again, I checked carefully but do your own research.

That’s quite revealing eh

[Baa_Baa]

Savings on expenses, flat to down, correlate to consistently rising 'employee benefits' in TOTO, and as a % of expenses. Might need to dig a little deeper and find out what the incentive plan is, it could be the clue to why shareholders aren't realising the full benefits of flat/declining expenses. Would help to have posted the top line as well and profits and shareholder returns, for a balanced view. Otherwise it looks a bit lopsided leaning towards gouging self centred employee largess.

[simla]

Or you could have posted them yourself.

(000s)	2013	2014	2015	2016	2017	2018
Revenue	1161	1322	2631	5661	6547	5288
Total Expenses	2959	2863	4004	6477	6571	6330
Loss	-1856	-1541	-1373	-816	-24	-1042
Net cash flow (ex finance)	-1110	-1324	-1516	-919	-71	-358
Employees over $100k	?	2	2	2	7	6
Cost est from pay bands	?	380	380	440	1140	920
Reported key personnel cost	?	389	480	1082	1216	1228
Working capital	909	* 3753	2519	1927	2253	1548	* Included share issue

Source: Annual reports. I have checked the figures carefully, but check them yourself if relying on them.

I merely posted the extra detail on costs as Winner suggested that the losses had improved, to which I replied that there might be other ways of looking at it too.

I am certainly not trying to present atypical information, as the above information shows I would have said. I am merely posting readily available public information for an informed debate seeing as the company has called on shareholders to back them without putting up any actual information to explain why (that I have seen.) Debate without information always annoys me and I have spend years here posting quite clear and sourced information solely for the purpose of informed debate. People can certainly respond however they like and I have never ever objected to anyone putting a counter view and have always made clear that what I post is merely the argument as I see it, and do not claim to be right.

The only argument I have proposed in this debate is that I believe the company would be stronger with Barry on the Board than without. That is the proposal on the voting form, and it seems reasonable to consider financials for the company from periods with Barry and without Barry to help inform that debate. The changeover was during 2016.