BLUECHIIP LIMITED 
- 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.
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About Bluechiip Ltd:
Founded in 2003 and ASX listed in 2011, Bluechiip Ltd (ASX:BCT) has its head office in Melbourne, Australia and distribution channels around the globe.
Bluechiip's unique and patented technology combines secure wireless sample tracking with integrated temperature reading for use in extreme environments, working reliably in temperatures from -196DEG C to +200DEG C, and impervious to autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.
Based on MEMS technology, the Bluechiip(R) tag contains no electronics. Unlike traditional tracking technology like labels, barcodes or RFID, Bluechiip does not require line-of-sight visibility for temperature readings and tracking, and so can be read through frost without damaging the sample.
The tag can either be embedded or manufactured into storage products such as vials or bags. Easy identification, along with any associated information from the tag can be detected by a reader, which can also sense the temperature of the tagged items. Unlike other tracking methods, the Bluechiip(R) technology can sense the temperature of each item a tag is attached to or embedded in.
This technology is particularly important for industries such as the $2b biopreservation and cryopreservation market, which processes more than 300 million samples per year of tissue, blood, serum, plasma, etc., for industries such as pharmaceuticals, IVF, research and clinical trials. It also has applications in cold chain logistics, food, manufacturing, security and defence.
Further information is available at http://www.bluechiip.com
Source:
Bluechiip Ltd
Contact:
Andrew McLellan Managing Director / CEO Phone: +61-457-823-470 Email: andrew.mclellan@bluechiip.com
