Melbourne, Jan 25, 2017 - (ABN Newswire) - Bluechiip Limited (ASX:BCT) (Bluechiip or Company) today released its quarterly cash flow report for the period ended 31 December 2016.
- Sales revenue of starter kits to SIAD Europe, Netherlands Distributor, Danish University and repeat sales to the Chinese Centre for Disease, Control and Prevention (CCDC);
- Continued aggressively building our pipeline of OEM partners and distributors
Commentary
Net operating cash inflow for Dec 2016 quarter was $72,869, compared to cash outflow of $578,725 for the previous quarter. The improvement in the net operating cash inflow during the quarter is mainly attributable to the government grants and tax incentives received of $674,677.
During the quarter, we:
- Continued with the second phase of our license and supply agreement to incorporate Bluechiip's technology into our partner's Assisted Reproductive Technologies (ART) medical device for sale into In Vitro Fertilisation (IVF) clinics across the globe, recording invoices for delivery of technology support service and components;
- Recorded repeat sales of starter kits to the Chinese Centre for Disease, Control and Prevention (CCDC), an agency of the Chinese Ministry of Health based in Beijing, People Republic of China. The first sale to CCDC was recorded in prior quarter;
- Recorded sale of 2 starter kits to SIAD-CZ, a Prague based subsidiary of SIAD, a European biobank solution provider for the life sciences sector,. SIAD-CZ has also signed a distribution agreement to distribute Bluechiip's technology in Eastern Europe with exclusivity in Czech Republic, Slovakia, Poland and Hungary;
- Recorded sale of 2 starter kits to our Netherlands distributor GR Instruments BV;
- Continued expansion of Bluechiip's OEM pipeline in the USA, Europe and APAC markets and converted OEM partner opportunities;
- Received a $50,000 in funding from Innovation Connections to proceed with the second phase of development of its 'over-temperature' chip technology in partnership with the University of Melbourne; and
- Continued to work on registering further patents from the R&D activities from our existing 24 confirmed patents.
To view the full report, please visit:
http://abnnewswire.net/lnk/DG8V7RL4
- Sales revenue of starter kits to SIAD Europe, Netherlands Distributor, Danish University and repeat sales to the Chinese Centre for Disease, Control and Prevention (CCDC);
- Continued aggressively building our pipeline of OEM partners and distributors
Commentary
Net operating cash inflow for Dec 2016 quarter was $72,869, compared to cash outflow of $578,725 for the previous quarter. The improvement in the net operating cash inflow during the quarter is mainly attributable to the government grants and tax incentives received of $674,677.
During the quarter, we:
- Continued with the second phase of our license and supply agreement to incorporate Bluechiip's technology into our partner's Assisted Reproductive Technologies (ART) medical device for sale into In Vitro Fertilisation (IVF) clinics across the globe, recording invoices for delivery of technology support service and components;
- Recorded repeat sales of starter kits to the Chinese Centre for Disease, Control and Prevention (CCDC), an agency of the Chinese Ministry of Health based in Beijing, People Republic of China. The first sale to CCDC was recorded in prior quarter;
- Recorded sale of 2 starter kits to SIAD-CZ, a Prague based subsidiary of SIAD, a European biobank solution provider for the life sciences sector,. SIAD-CZ has also signed a distribution agreement to distribute Bluechiip's technology in Eastern Europe with exclusivity in Czech Republic, Slovakia, Poland and Hungary;
- Recorded sale of 2 starter kits to our Netherlands distributor GR Instruments BV;
- Continued expansion of Bluechiip's OEM pipeline in the USA, Europe and APAC markets and converted OEM partner opportunities;
- Received a $50,000 in funding from Innovation Connections to proceed with the second phase of development of its 'over-temperature' chip technology in partnership with the University of Melbourne; and
- Continued to work on registering further patents from the R&D activities from our existing 24 confirmed patents.
To view the full report, please visit:
http://abnnewswire.net/lnk/DG8V7RL4
