Dotz Nano Limited (ASX: DTZ) which belongs to the information technology sector and is into the business of developing, manufacturing and commercializing graphene quantum dots, has announced that it was successful in securing a commercial sale of its ValiDotz™ security markers to an international lubricant manufacturer.
The sale of ValiDotz™ security markers worth A$300,000 shows the unique capabilities of DTZ into the lubricant sectors where the Validotz materials can intrinsically tag the lubricants and greases without changing their properties. The lubricant manufacturer who is associated with the DTZ as a partner is a leader in the innovation, formulation, and manufacture of lubricants to multiple industries.
The ValiDotz™ markers will be directly inserted into the customer’s lubricant used in high-value and precision applications. As per the customs followed in the industry, there will be a further analytical and customization testing to optimize future usage.
The non-toxic markers of DTZ have features that provide multiple layers of security and are designed in such a manner that it can continue working in elevated temperatures over an extended period of time. These markers can be added in a cost-effective manner to existing manufacturing processes.
Uzi Breier who is the CEO of Dotz Nano Limited commented that the sales further confirms the direct commercial sales strategy which will directly focus on the end customers within the selected targeted area of DTZ. He stated that he is confident that their customer (now a partner) will give top priority to its customers, product quality and distinct service.
He also highlights that the lubricant market is full of challenges as the product quality in the market is flooded with inferior, non-standard, non-regulated and counterfeited lubricants that can be dangerous to people as well as machinery.
Since the inception of DTZ, the stock generated a negative performance of 99.88%. However, the YTD return of DTZ has been 7.14% to date.
As per the half-year report of DTZ by the end of 30 June 2018, the company had generated a revenue of US$5,220 which was down by 29%. DTZ made a loss of US$3,221,988 which was up by 81% as compared to the previous financial year. The net assets by the end of the period were US$1,096,073, with a reduction of 62.8%. The total current assets by the end of the period were US$903,351 which decreased during the period. The total current liabilities during the period were $331,301. There was also a growth in the accumulated losses. As a result of which there was a decrease in the total shareholder’s equity.
The company used net cash of US$2,475,023 from its operating activities where the chief source of cash outflow was the payment made to the suppliers and employees.
There was also a net cash outflow of US$81,606 from the investing activities of the company. In this, the company used US$69,825 to purchase plant and equipment. The company also deposited US$11,781.
There was a net cash inflow US$340,523 from the financing activities of the company. Here, the company generated revenue through the issue of shares and also made payment to the lenders.
By the end of the half year of FY2018 which ended on 30 June 2018, the net cash and cash equivalent with DTZ stood at US$551,936.
By the end of the trading session on 30 January 2019, the closing price of the stock was A$0.090 with the market capitalization of A$16.26 million.
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