Just listened now to the AGM. I've been an investor for a long time now and as upset as anyone else about the SP status.
I believe we are turning a corner here. With almost $4m coming in through R&D refunds in the next 3 months, NSW and Fed Gov interest in developing semi-conductor industry in Australia, there is less need for a CR anytime too soon, unless there is a left field development.
Laser performance is improving, traction at trade shows, significant customer interest at second show, then shipping alpha products in June 2022. Hired the team of technicians that previously worked at the fab they have bought. Data and metrics came with those people. Professor Dunbar at UCL was a long time contact of Jim, who introduced out latest hire, Dr Ryan Anderson.
2 new epi-designs - new improvements, highly promising new design. Highest light output and lower voltage.
4 fold revenue capacity with own FAB compared to CM
Development work occurring faster and confidence building.
Expert team came with fab and new talent hired. GaN director from another GaN organization.
Mid-July EPA. In 6 weeks, they started their first process runs - pretty quick. Great feedback from EPA
Quantum area could be quite interesting. Nobel Laureate involved via Consortium. Access to Post Docs
An upbeat presentation in my view and it sounds like they have a keen energized team chomping at the bit.
This is a new animal IMO. Probably some stale holders still trying to get out and SP won't rise till they are gone or new interest at scale comes in. It will not take much in terms of contract wins or sales to lift this.
Chart snippet below shoes 8,16,32 EMAs and 50 and 200 MA's. For the first time in a long time, 50MA looks like moving up though 200MA which has been going downwards from months. All the EMA's and MA's tightening is also a sign of a swing one way of the other. I'm for a break to the upside.
Weekly
AUD$40m mkt cap is a joke, but plenty of upside for those with patience.
Re intangibles - explicit accounting standards on valuation and recognition so these are essentially off balance sheet assets. Predictability of revenue streams is required long before you can place and book any value on those. They are unlikely to ever be recognized until a buyer bought Bluglass out and then the intangibles get booked on the acquirers side. Only then will you know what they are "worth"
And re Buildings - I have no doubt this facility would have cost 10's of millions to build new.
So a small nimble niche player with tech that industry is getting interested in, and where geopolitical considerations are front and centre. Worth topping up as a long term investor IMO.
(20min delay)
