I believe our 'friends' at Wilsons still have stock to sell, but their opening pitch from the report follows. Their first line says it all - "who'd of thought?"....
BluGlass has experienced stock price weakness in recent weeks post a recent capital raise. BLG is a direct play on the fast-growing LED and micro-LED market. The investment case remains unchanged in our view. BLG is continuing to broaden industry collaborations with leading technology partners. We are attracted by the mid-term potential to commercialise their LED technology. Our forecasts have been adjusted for the recent capital raise ($9.2m) and SPP ($2.0m) leading to some EPS dilution. These funds will be used to expedite commercialisation which appears to be moving forward with increased data-exchange occurring between Lumileds and BLG. Our scenario analysis which is toggled on a royalty model at two key alliance partners implies a range between $0.75 and $0.84.
Also interesting to note the recent increased activity on social media from the company...... Even Giles musings re shareholder engagement......
Hopefully now, after getting their additional cash, and consequently a lot of new toys to play with, the message of disquiet from current holders has got through and they now pull their collective fingers out and start delivering on all of these 'implied commercialisation promises'.
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