Seriously depends on how much of the company's recent 'spin' you...

Seriously depends on how much of the company's recent 'spin' you are prepared to believe and tolerate, @Hotdogy

Many here have read this and are hopeful BLG has turned the corner........ I hope they do as well however currently, it depends on your view of the company and their spin......

For me, I've been burnt by this mob so many times I've lost count, so I have now adopted a 'Seeing is believing' mentality. We were promised a LD product 18 mths ago and still no revenue raising, 'Laser' light at the end of that tunnel......

The AGM preso showed that Revenue for the year ended 2022 was $604,749, pleasingly up 66% on the previous year. BUT STILL, only $604,749 for the year.

To put that revenue figure into context, their Quarterly cash burn for FY22 was about $1.6mil (including grants and last years R&D redate), and that doesn't include the full, annualised cost of operating the new FAB......

They are desperate for the receipt of the expected $4mil from the 21/22 R&D rebate.

Their AGM preso 'Outlook/Summary' (one Page - Page 29) was more summary than outlook and was simply a rehash of previous years spin.

The recently published 'Paid Broker Research' report was 35 pages long, however did finally spell out the true, current situation for BLG as follows -

SWOT Weaknesses -
* BLG is facing some product reliability challenges that it is in the process of resolving. Reliability testing of its laser diode prototypes has highlighted processing flaws and degradation of optical facets at high power and in continuous wave conditions.
* Production is currently in the alpha stage and the company has not yet reached the commercialisation stage. Qualification processes with some larger clients can take a long time.
* BLG needs some time before transitioning all its manufacturing capabilities in-house from contract manufacturers. The longer the reliance on
contract manufacturers for development, the longer it will take to launch new products.
* While the company has sufficient short-term cash resources, it is unlikely to turn into a cash flow positive company until 2024/25.
* There remain technical risks in demonstrating the performance and manufacturing advantages of BLG’s RPCVD technology.

So of all the spin that has been put forward by the company over the last 6 months in particular, this extract for me is the most honest, and compelling admission of the current status of Bluglass. And to think it came to us via a 'paid' broker report.......

So I WON'T be converting my options or buying more heads until i receive the news that the LD 'Products' shareholders were promised, initially some years ago now, are actually delivered and revenue earned.

Based on the above extract from the Broker Research Report, that WON'T BE HAPPENING BY 30TH NOVEMBER 2022 when the oppies are due to expire.

GLTAH.