In March 2019, Graphene 3D Lab (GGG: TSX-V) completed a private placement of 9.4 million units of its common stock and warrants at CA$0.06 per unit to raise CA$525,000 in new capital. The proceeds will be used for working capital and the company begins commercial sales of its graphene conductive filament. The filaments are designed for three-dimensional printing of electronic circuitry, sensor or radio frequency shielding.
The company is under new management that just took the helm in November 2018. Earlier new sales leadership in sales had been added to accelerate market penetration. The team is quick to tell potential customers and investors about its products, but a little slower on reporting the company’s financial performance and position. Financial data is available only through May 2018.
The company claims over 12,000 customers for its product portfolio of over 100 products. In the year ending May 2018, Graphene 3D reported CA$909,512 in revenue, resulting in a net loss of CA$1.1 million. There seems to be a bit of disconnection between customer claims and reported sales, but achievement of some revenue is more than achieved by some companies in the graphene sector.
For a list of graphene producers, see this post.
Neither the author of the Small Cap Strategist web log, Crystal Equity Research nor its affiliates have a beneficial interest in the companies mentioned herein.
This article was first published on the Small Cap Strategist weblog on 4/5/19 as part of the post “Graphene Up Stream.”
