Forum Topics Bluechiip Ltd General Discussion
Advent
7 months ago

Bluechiip went up 14% on Friday even tho their in shit, is their any news out of the ordinary?

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shivrak
one year ago

Topped up today with this drop on no news at $0.15. With the 4C only a week or so away and about to report one of, if not their biggest, quarters by the look of it, this was too tempting to say no!

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tommo
2 weeks ago

Still holding Shivrak?

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shivrak
2 weeks ago

Hi Tommo, No, I no longer hold. I updated Strawman about 6 months ago that my thesis was broken, and sold my entire holding. It primarily rested on Labcon momentum accelerating (which never materialised in the depths of COVID) and more OEM agreements getting signed, which also never materialised in the timeframe I had in mind. Since I sold, Labcon have actually terminated their agreement, and both parties are still (I believe) locked in a legal dispute over outstanding amounts. There have been zero additional OEM agreements, and they've flagged a strategic pivot back to vial manufacturing in-house, which pre-2015 (when there was a leadership change) has been an almighty bonfire of shareholder capital... Management, who pre-covid were happy to communicate with me, also stopped returning my emails in June/August, further clouding the health of the business and convincing me it was time to get out. Ultimately, unless they can show me evidence of multiple OEMs finding their technology indispensable, I don't see how they can sustain themselves without additional capital from shareholders. Too many OEMs are stuck in trial phases with little uptake, so until the business gets more traction on this front, their technology just strikes me as a solution looking for a problem.

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