BLG 5.88% 3.2¢ bluglass limited

Ann: App 4C Qtr Ended 30 Sept 2023, page-2

  1. 2,805 Posts.
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    My take on this: And remembering this is prior to the CLAWS announcement.

    Revenues : remained about constant at $370k, however R+D grant jumped from $4m to $7.3m ( when it arrives)

    Costings:
    (1) R+D : dropped from $2.193m to $1.12m : the previous 3 quarters where all over $2m as the Fremont Fab was fitted.
    (2) Staff Costs : jumped from $1.68m to $2m : New full time CFO employed and other Staff to deal with expected uplift in work load and orders.
    (3) Admin: Runs between $300k and $400k.
    Bridging loan of $1.5m and $250k over draft from CBA. Not ideal but we all know how slow the ATO can be.

    Overall, the burn was about $600k less than previous quarter. NOT INCLUDING the government grant of $7.3m.
    That kicks the can down the road another 6 months. Now we wait and see how much the allocation is from the CLAWS group.
    I am expecting around $3m USD. Thats should be worth approx another 6 months and by then the R+D should roll around again.

    Having said that, at some stage we need/(will see) a material uplift in orders and revenues.
    Last edited by Holdtight: 31/10/23
 
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