@zaidi675Bluglass is one of those holdings I sold out of during...

@zaidi675

Bluglass is one of those holdings I sold out of during the second half of CY2020 (as part of a general portfolio de-risking process), on the simple grounds of a) the business being still essentially at a pre-revenue stage, b) revenue milestones getting pushed forward, and/or looking less likely to be achieved, and c) the SP having already risen enough from my latest meaningful purchase (in this case the April 2020 rights issue) for the position to no longer feel like a “free ticket”.

I haven’t followed the Company closely since, so there isn’t much valuable commentary I can add to this specific release (including the likelihood of a takeover). In terms of whether the market opportunity is still there, sure it always has; but, in terms of whether BLG is now on a more visible path to revenue generation and profitability than it was a year ago, I personally don’t see enough evidence. For context, I no longer own any shares of companies that are still pre-revenue, so my current sentiment should be viewed in light of a lower overall risk appetite level.

Cheers