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Dotz Nano Limited (ASX:DTZ) operates as a technology company. The Company develops and commercializes technologies in the advanced materials industry, specifically graphene quantum dots (GQDs).
The company has via the latest release on ASX disclosed its December 2018 quarterly update. The company stated that during the December Quarter, it continued to advance its commercialization plans with negotiations with end-customer prospects in the oil and gas, anti-counterfeiting and product liability markets. This led to the company receiving two purchase orders in January.
The first Purchase was for US$100k of ValiDotz security markers and InSpec detectors from a Swiss-based company providing secured-plastic-packaging solutions for governing organizations. The company was selected from numerous anti-counterfeiting options and followed extensive migration testing of the companyâs anti-counterfeiting markers, which demonstrated its accuracy and stability.
The second purchase order was for A$300k of ValiDotz from an international lubricant manufacturer, which is to be realized during 2019 and 2020.
These purchase orders represent a significant milestone for the company, validating the companyâs new go-to-market strategy of targeting end-customers rather than distributors. It also increases commercial opportunities for Dotz within the vast plastic-polymer brand-protection market, alongside the large lubricant sector.
Ongoing negotiations with potential customers in the oil and gas industry are advancing, and the management expects these will mature and convert to business agreements shortly. On the technical front, the companyâs R&D team continues to test the its new line of detectors with several end customer prospects in the sectors mentioned above. The management is excited as this final testing progresses, as the companyâs comprehensive end-to-end solution, enabling customers to verify and authenticate products on site and in real-time, is key to obtaining purchase orders.
While the companyâs end-to-end technology solution has been compelling to business prospects over the last few months, it has been necessary for management to demonstrate the effectiveness of the companyâs products in multiple industries, applications, and markets. This involves additional field trials and migration testing. However, through this testing, the management has also confirmed that the ability for the firm to customize its offering to suit individual customer needs provides the firm with a valuable point of difference. As per the last quarterly report, with the companyâs strategic focus on the bulk liquid and lubricants sector, the company exhibited at the Union of the European Lubricants Industryâs (UEIL) Annual Congress in Budapest in late October. Attended by approximately 250 delegates, the UEIL event gave the company access to key players in the European and global lubricants industry. The management continues to follow-up leads from this event.
Cash and cash equivalents at end of December quarter were recorded at US$ 509,000 which is lower than the US$1,190,000 in the previous quarter.
Now let us quickly have a look at the companyâs stock performance and the return it has posted over the last few months. The stock last traded at a price of $0.090, with a market capitalization of circa $16.26 million. The stock has yielded a Year Till Date returns of 7.14% and posted returns of -10%, -2.17% & 7.14% over the last six months, three months and one-month period respectively. It has a 52-week high price of $0.165, with an average volume of 469,062 approximately.
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