Ann: Bluechiip raises $2.2M and announces SPP, page-12

Sorry to be a party pooper but this is a stock where I was once a Top 20 holder and contributed to every cap raising, but no longer. I sold off a large number of shares after it came off the heights but was still around the 7c-8c range.

I still hold a few and have been waiting for the price to get back to 7c or so before finally exiting the stock.

Like you I consider the technology to be good, but after 15 years or so it's clearly not so good that it's going to be the next big thing. And of of course the patents are slowly expiring.

One of the things that upset me was the opportunistic cap raining about 15c. I contributed to that (and it pushed up my average cost a fair bit), but I wondered after the event whether management took the view that it was opportune to take advantage of the excitement and load up with shareholders' money. Certainly, from the BCT point of view, it was the right thing to do, but not so from the point of view of us muggins shareholders.

Another thing which disappointed me was the Labcon exercise. My gripe about that is that shareholders have never been told enough about what went on or why Labcon pulled out.

A third thing is that shareholders have always been told that the early experience of the company was that direct selling was not viable; the cost of running sales people in the USA to make speculative sales was too expensive. Yet here we are, Labcon has gone and the company is now back to direct (and other) selling.

A fourth one is that at one stage the over-temperature chip seemed to be a company maker, but that never happened.

And the last thing is that the announcements are bland, repetitive and uninformative. Patient shareholders should be kept in the loop, but they are not.

I hope that it pays off for all of you but I'm out of here at 7c or thereabouts.

GLTAH.