Blis books $780,000 loss

Dunedin-based Blis Technologies has booked a $780,000 loss for the six months to September, reiterating earlier guidance it still faces a full-year loss of $1.3 million.

In its third capital-raising since listing in 2004, Blis raised $1.31 million in a shareholder purchase plan and private placement over September-October, having delivered eight consecutive losses totalling almost $8 million. Revenue for the half was $580,000.

Blis, which develops oral probiotoc bacteria, spent $226,000 during the half year on capitalising development costs and patent costs, and spent $225,000 last year acquiring city company Gourmet Ice Cream.

The $1.3 million capital raised is earmarked for launching Blis K12 ice cream, Blis M18 dietary supplements and international product sales.

In a statement yesterday, Blis also reiterated that unless additional funding could be found, a capital raising through a pro-rata issue to shareholders was "likely", alongside a review of operations during 2014.

Blis exports to Australia, Asia and Europe. A China launch was deferred and some distribution in the United States postponed.




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