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That letter said sales growth so far had been "much slower than expected by our major distributor". p2. http://blis.co.nz/media/pdf/PMH-4936...1_FINAL_v2.pdf
It's mentally reassuring to hear the company say they had hoped for more in sales growth by now, too. It wasn't just our little group here who hoped that was a reasonable possibility. But it's a tough market out there just now.
Well, that's details of the Share Purchase Plan. When will we hear about the Share Placement?
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this share is nothing but a dog and has been since it was first listed. Why anyone would throw good money after bad is beyond me. Do yourselves a favour, cut your losses and walk away.
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Yeah, not exactly a stellar performer on profit so far.
However,
1. The company is still aggressively expanding.
2. Long term investing is still legal !
3. Some of us are quite happy to invest in the future of the country our children will live in.
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i have a growing suspicion that some blt holders are trying to shift the sp, or are silly beyond measure.
who could really justify buying 1000 blt for all of $60 plus 50%? for brokerage?
methinks there is a gamesplayer among us.
everyone should take serious notice of volumes changing hands -- and forget all chances of finding trends...
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"Market in awe of $60 bid!" Personally, I've thought for a while that some fund has a small holding of BLT and is obliged to make small mathematical adjustments from time to time, presumably brokerage free.
I wonder when we're going to hear more about the share issue?
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Here's a story on the ice cream. http://www.itmaru.org.nz/newsline/?p=1444
"Gourmet Ice Cream sales manager and former owner ...said the K12 ice cream was still a couple of months away from public release. “We want to get some experience with the local market before we start exporting,” he said. “There is a huge amount of potential, especially in the Asian market.”
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This perhaps counts as a new product format of K12? It looks interesting anyway. "Consuming one child-friendly, bear-shaped supplement each day can help prevent common ear infections and sore throats in children." "Each package contains 20 vanilla-flavored chewable BLIS K12 bears, sweetened with Xylitol, a natural sugar substitute. " http://www.nutritionhorizon.com/news...-Children.html The company seems to be in Israel.
I can't find a photo, but this might be a similar concept product from the same company? http://www.anlit4kids.com/web/8888/n...48&lang=EN&SM=
"Anlit will launch the new supplement to retailers, marketers, pharmaceutical and dietary supplement producers at CPhI. [on October 25-27]"
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The "terms and conditions" on the SPP have arrived in the mail. It says the maximum share issue is about 41m shares (clause 2.8 (b)), at 4.85 cents (cl 2.2), or about $2 million (by my maths, anyway). All applications reduced on a pro-rata basis if that is exceeded (2.8 (b)). https://nzx.com/files/attachments/145628.pdf
Blis announces Edinburgh is applying for $500,000 worth (about 10m shares I make that) https://nzx.com/companies/BLT/announcements/213516
So, unless there are other parties to the Share Placement, then the total to be raised should be $500,000 plus whatever the shareholders will cough up, to a maximum of around $2m. (Check all the maths yourselves, naturally.)
At this point, then, and if my maths is right, that looks like a tidy new issue that doesn't dilute existing shareholdings too much, but should put the company on a stable footing for cash for a while. Personally speaking, I'm pretty comfortable with all that, and will send in a cheque.
But each investor will make their own decision obviously. Currently, confidence levels are pretty low around the world, and many will be fixated on that. Others may expect the sun to still rise in the morning regardless of all that. And the company has yet to make a profit, of course. But it also has a reasonably solid business story to sell, too, depending on your point of view. Presumably some small shareholders might see this as a chance to cheaply stock up a bit, if they like the company's business position.
It will be fascinating to see just how much shareholders cough up. The $1000 minimum might attract some, too.
Whatever happens, I'm happy to thank the company for running an issue that (as I read it presently) seems fairly shareholder-friendly. I hadn't expected it to be quite so early, but I'm happy with that too.
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