Last Thursday, Graphene 3D Lab Inc (GGG.V) reported its third quarter financial results, ending on the 29th of February 2016. The company co-headed by Daniel Stolyarov and Elena Polyakova recorded for the first time some meaningful revenues to the tune of $270K. In the quarter, the listed company's revenue and margin showed significant improvement with the inclusion of the Graphene Laboratories Inc. business activities for almost the entire quarter. The acquisition took place on December 9th, 2015. Graphene Laboratories now operate as a wholly owned subsidiary of Graphene 3D Lab. Graphene Laboratories, a leader in manufacturing and retailing of graphene and advanced materials, owns the Graphene Supermarket,(www.graphene-supermarket.com), a leading supplier of such products to customers around the globe.The Company is moving from principally a research and development focus to creating a variety of revenue models. The Company has established a revenue channel with its functional 3D filaments and is now expanding its revenue opportunities as a leading graphene manufacturer. The acquisition of Graphene Laboratories allows the Company to work with advanced material polymers to expand into markets beyond the 3D printing sector.
| K$ | Q ends 2/29/16 | Q ends 11/30/15 | Q1/16 ends 8/31/15 |
| Sales | 270 | 60 | 30 |
| Gross margin (%) | 48 | <0 | <0 |
| OPEX | -550 | -450 | -660 |
| EBIT | -420 | -460 | -660 |
| Net result | -400 | -500 | -700 |
| Cash at bank | 500 | ||
| Financial Debt | 0 | ||
| Shareholder's equity | 1,326 |
Graphene 3D Lab Inc, a Calverton, New York City, based startup, is in the business of developing, manufacturing, and marketing proprietary polymer nanocomposite graphene-based materials for a number of industries including the aerospace and automotive industries, manufacturers of medical prosthetics and the military as well as the various types materials for 3D printing, such as fused filament fabrication. The 3D printing division of the Company offers a portfolio of specialty fused filament fabrication filaments. These materials can be purchased through multiple distribution networks worldwide or directly online at www.blackmagic3D.com.
Promising development in the last 6 months
In the last 6 months, Graphene 3D Lab Inc has developed promising new projects that could help the company bring significant revenue.
Graphene Manufacturing Process Patent
Graphene Laboratories Inc holds a provisional patent relating to the manufacture and processing of graphene. Graphene is a novel material with a variety of outstanding properties. Graphene is currently available in the market at various grades, with performance characteristics such as mechanical strength, and conductivity improving with fewer atomic layers. Graphene Laboratories patented manufacturing process provides proof of concept to allow for a low-energy, chemical-free manufacture designed to achieve high-grade graphene material at a projected industry leading low cost. Graphene Laboratories has begun planning on a two-phased development program to advance this manufacturing process from bench-top prototype to a large-scale manufacturing operation.
Partnership with Ideum Inc.
In June 2015, the Company and Ideum Inc., a company which develops large-scale smart-tables and walls, signed a MOU which lays the foundation for joint research, product development, and marketing between the two companies. Graphene 3D and Ideum will consider and co-develop products by Graphene 3D which can be used as capacitive sensors to interface with Ideum's product offerings. Graphene 3D began commercial on-demand 3D printing of coasters, joysticks, and styluses which Ideum clients can use to interact with their smart-tables. Styluses of various shapes, 3D printed in Conductive Graphene Filament, may be used as brushes used in photo editing software, giving a more hands-on feel to creative work done on an Ideum smart-table. All jointly-developed products will be promoted through Ideum sales channels, and Graphene 3D will partner with Ideum in various marketing activities. This was evidenced most notably by Ideum's recent collaborative venture with JCB Wines located in Napa Valley, California.
Partnership with a Fortune 500 company
On December 1, 2015, the Company announced the signing of an important research, development and royalty agreement with a Fortune 500 listed manufacturer. Initially, the Agreement encompassed the development of multi-phased deliverables over the course of the next 12 months. For competitive reasons and pursuant to confidentially clauses contained with the Agreement, neither specific research objectives nor the identity of the Agreement partner can be publically disclosed. Upon successful completion of the research phase, and subject to approval by the U.S. Food & Drug Administration, the developed materials will become a part of a consumer retail product. In April 2016, the Company was approved to move forward with the next task under this Agreement. The Agreement calls for all research and development costs and royalty obligations to be paid by the partner, as well as a first-right-of-refusal for supply of any graphene related materials in future manufacturing pertainin g to Intellectual Property (IP) developed under the agreement. All IP developed under the scope of the Agreement will be jointly held by both parties.
On December 3, 2015, the Company announced that it had filed a provisional patent application relating to the process of 3D printing an organic LED light source with its innovative multi-functional 3D Printer. The printer patent relates to technology that will lead the global industry in multiple deposition techniques, robotic manipulator, laser and UV curing capabilities. The patent also covers a new 3D printer that can print a light source, an organic LED light that immediately functions when printed. The organic LED device structure utilizes a graphene coated transparent conductor window. This new IP a dramatic leap forward, offering the ability to 3D print with multiple functional materials at the same time, including the ability to 3D print a working light. This printer was specifically designed to maximize the attributes of the functional materials that the Company has already developed and those it will introduce in the future to the market. The printer will not be availabl e immediately for pre-order. The Company is currently evaluating contract manufacturing and partnership opportunities to support commercialization of the printer.New 3D filaments
In January 2016, the Company introduced another new functional magnetic filament to its product line. This new filament was developed by Graphene 3D and allows printing of 3D projects with components that are attracted to magnetic fields. This filament is ideal for producing sensors and mechanical actuators and motors by additive manufacturing. This filament is ideally suited to switches, sensors and actuators. The Company expects this new functionality will challenge more traditional manufacturers to examine incorporating more 3D printing technology into their manufacturing processes. In March 2016, the Company introduced a newly developed filament to its product line–Scorpion™ Flexible Nylon. Due to the outstanding resilience of this material, 3D printed objects with Scorpion™ can handle repeated stress with ease and the object maintains its shape. The product is primarily designed to be used as engineering material, however the objects printed out of Scorpion™ hav e nice finish and pleasant to touch which makes this material ideal for wearable 3D printing designs.
Investment in a Twin Screw Compounder
The Company has recently installed a new Twin Screw Compounder. This specialized piece of equipment allows the Company to create advanced composite materials with exceptional accuracy in shorter working times. The compounder will help to incorporate graphene into materials that are well suited for production of new or existing products that are lighter, stronger and more flexible than the current commercial counterparts. The Company is now able to respond faster to the increased demand it is seeing from manufacturers who seek to partner with the Company.
A new chairman of the board
In March 2016, the Company appointed Mr. John (Gary) Dyal as Chairman of Board of Directors. Mr. Dyal is a recognized leader in thecommercialization of nanotechnology and graphene related products. He brings over 35 years of manufacturing and technology experience to the Company.
Shares issuance expected to finance the growth
Over the last 2 years the company has successfully raised funds to finance its research and development and its operations. Going forward the company will have to keep raising cash, as stated in the quarterly report: "The Company's ability to meet its administrative expenses and complete its planned research and development activities and its ramp up of commercial operations is ultimately dependent upon management's ability to secure additional financing".
Graphene 3D Labs current market capitalisation is moderate at CAD15M. Current developments are very promising and therefore the company is a good position to attract investors to finance its development.
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