Bluglass

Not much has been mentioned about BluGlass on these threads ... in light of our confusing and yet to be explained CR I went down a bit of a rabbit hole tonight that I thought worth sharing, simply for consideration.

From the SE1 Investor Update on 31/5/21

BluGlass Limited
(ASX: BLG) Is developing process and equipment using Remote Plasma Chemical Vapour Deposition (RPCVD) to grow
semiconductor materials for the production of high efficiency devices such as light emitting diodes (LEDs). Sensera is
collaborating to produce higher power blue laser LED devices to be applied in several verticals: industrial, bio/life science,
automotive and general lighting.


From the recent BLG quarterly :

The optical facet is in the post epitaxy production steps and involves third-party suppliers. BluGlass is working
with multiple vendors and expert fabrication specialists with established production capabilities to expedite
solutions.

Once this issue is addressed, the solution will then be integrated across BluGlass’ suite of laser diode products.

So we are working with BluGlass.

BluGlass completed their own CR 4 weeks ago ;

From the offer notice :

Key Points:
 BluGlass placement to leading technology focused micro-cap fund to raise A$2 million.
 BluGlass entitlement offer of approximately A$6 million to provide capital to expedite laser diode
opportunity and enable ongoing execution of business strategy.
 Entitlement offer priced and structured to encourage broad shareholder participation.
 Issue price of placement and entitlement offer of $0.03 represents a 47.5% discount to the Company’s
15 day VWAP to 7 June 2021 of $0.0571

The results, announced on 9th July :

Australian semiconductor developer BluGlass Limited (ASX: BLG) has closed its oversubscribed nonrenounceable entitlement rights issue, successfully raising the maximum of $5.92m before costs. The rights issue enabled eligible shareholders to subscribe for new shares in the Company on a 1 for 4 basis at $0.03 per share.
Strong support from shareholders saw shortfall applications exceed the rights issue target and a pro-rata scale
back of approximately 4% will be applied to all shortfall applicants, with the refund amount to be credited to
shareholders in the coming weeks.
BluGlass has also agreed a separate private placement to Viriathus Capital of a further $500,000 on the same
terms as the rights issue.

So, then I looked at Ralph's Linked in ....






If nothing else, is this where Ralph got the lightbulb moment for a CR, or is it even tied to this raise by BLG in some way ?

As an aside, EVONIX, the company for whom Ralph now works, listed on the Nasdaq on 15th July, 6 months after moving from a CEO role in Sensera to an Executive Director and taking up asenior position in EVONIX. I wonder if this was an appointment to assist facilitate the transition to a public company, and what the length of tenure may be ?

Lot's of speculation, but we are a microcap speculative company so might as well have some fun !