Definately worth the hold. The company's focus is on increasing sales by gaining more traction within direct selling markets.
Appreciated this from the company is the release of their 4C today.
Business development
Australia
Online sales of the Company’s probiotic product Progastrim™ are improving with regular reordering from customers.
Malaysia
The Company has recently secured a major co-operative under the Angkasa (Angkatan Koperasi Kebangsaan Malaysia Behad) umbrella, as a member. The cooperatives in Malaysia have significant distribution networks and the Bioxyne product range is progressively being showcased to a number of these cooperatives.
China
The Company intendsto provide its dairy formula-based products through wholesale channels supplying into the Direct Sales channel and is working with a potential partner on the product registrations required before this can progress.
Vietnam
Following a recent product trial in Vietnam the Company is reformulating products to meet customer requirements in Vietnam and Cambodia.
Indonesia
Channel development in Jakarta and Makassar offices continues with a small increase in distributors and revenue over the previous quarter.
Corporate Cash on hand as at 31 December 2019 amounted to $2.05 million.
Cash with current burn rate good for another 14+ quarters.
Imo our CEO will deliver on all above and we wont be sub 2c for that much longer.
BXN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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