Live PT Blink Limited

About PT Blink - Disruption, Technology and Growth - Let's change this blink'n industry! [5:21]

Equity Crowdfunding Type of Offer
9 Days Remaining
$250 Minimum Investment
$500,000 - $2,000,000 Size of Offer
$15,950,000Pre-money Valuation

Target $500,000

112%

$559,753

Raised

3-11%

Equity

367

Investors

Already at +$500,000! More equity on offer, now targeting $2 million.

 

Please consider the offer document and general risk warning before investing.

Investors are entitled to a 5 day cooling-off period.

OnMarket's fees are a maximum of 7.5% of the funds raised, paid by the Company.

If you wish to invest > $10,000 you will be required to be verified as a Sophisticated or Professional investor, you can do this via OnMarket: APPLY HERE

PT Blink has a proven technology that can significantly reduce construction time and lower the costs of building multi-level buildings. By using steel columns and trays manufactured offsite, PT Blink can double project IRR and improve worker safety, accuracy of design and environmental outcomes.

Highlights

  • Scalable, patent pending building technology using steel columns and trays manufactured off site then strengthened using post-tensioning
  • Offsite manufacturing results in greater accuracy of design and improved safety
  • Reduces construction time for multi-level buildings by up to 50%
  • Uses up to 30% less steel than traditional structures
  • Potential to materially improve project IRR for developers
  • Facilitates "Buildings on Buildings" for construction above old, heritage and confined buildings
  • Revenues earned through licensing the PT Blink technology, and does not bear construction risk
  • Successfully completed a seven-storey building in Brisbane, reducing construction time from 16 months to 11 months
  • Four contracts in place, including projects being built by Multiplex and Fletcher Building
  • Founder, Murray Ellen has over 30 years’ experience in innovative steel design technology
  • Looking at potential IPO in 12-18 months

The Opportunity

PT Blink is an innovative building technology company that has successfully licensed its patent pending technology (the ‘Blink Technology’) for a number of construction projects in Australia. The Blink Technology is a method of constructing multi-storey buildings using steel columns and steel trays manufactured off site and then strengthened using post-tensioned steel cables.

This construction method allows the building to be erected in a way which is dramatically safer, more accurate, faster and cheaper. Constructing a significant component of the build off-site in a factory, at ground level, reduces the potential for accidents onsite. This also allows greater accuracy at the time the structure is erected due to the components being machine made. Management estimates that current build times are reduced by ~50% utilising the Blink Technology.

The Blink Technology was successfully used in the construction of a seven-story residential building at Spring Hill in Brisbane. Completed on 2017, the construction time was reduced from an estimated 16 months to an actual time of 11 months. The success of the Spring Hill project has resulted in contracts for the design of a further four projects, including projects being built by Fletcher Building and Multiplex.

Spring Hill, Brisbane project under construction

Business model

PT Blink is a technology company which derives its income by licensing the Blink Technology. In some cases, PT Blink may license the technology to the developer only, however, for all current and future contracts, Management intends to license to all parties, including developers, builders, structural engineers, components manufacturers and installers.

PT Blink does not take any building or development risk. Structural design risk is sometimes taken and backed by appropriate sub-consultants.

Business strategy

The Blink Technology replaces the traditional construction industry methodology. To further its application and use, they will continue to engage with developers and builders to demonstrate the benefits of the technology.   They will also use four current projects as demonstration sites for prospective users, as well as setting up demonstration modules in Toowoomba, Sydney and Melbourne.

CAD drawing of the Spring Hill, Brisbane project

Current contracts

PT Blink has developed strong relationships with mid and top tier builders including Multiplex and Fletcher building. They have been engaged to licence the PT Blink Technology under four contracts, including:

  • Brisbane, Queensland – design of components for an 82 story integrated development by Multiplex at 300 George Street, Brisbane
  • Caboolture, Queensland – design of aged care facility, commercial office building and apartment building to be developed over three stages
  • The Gap, Queensland – design of vehicle showroom
  • Fletcher Building Limited – commercial arrangement with Fletcher Building in New Zealand in relation to a multi-level residential building in Auckland

Each of these contracts will be completed or under construction in the next 12 months, with the first three with an estimated value to completion of $1.4 million.

PT Blink is also currently undertaking design work for customers in US and New Zealand, and expects the licences to be in place with developers and builders in these countries by the end of 2018.

The Blink Technology is being applied to develop the curved podium level of the development of 300 George St, Brisbane

Milestones to date

Since commencing business on 4 July 2016, PT Blink has achieved the following:

  • The successful completion of the building in Spring Hill, Brisbane
  • The provision of the technology and know-how to OneSteel in Brisbane to manufacture the components of the columns and trays
  • The training of a fabricator to assemble the columns and trays from the components manufactured by OneSteel
  • The training of the installers to assemble the columns and trays on site;
  • Securing contracts for five further projects
  • Generating interest for the use of the Blink Technology in New Zealand and the US

Offer Overview

PT Blink Limited has a pre- money valuation of $15.95 million.  The Company is looking to raise a minimum of $500,000 and a maximum of $2,000,000 via this equity crowdfund offer (the Offer). 

The funds raised will be predominately applied to:

  • Research and development – enhance the Blink Technology
  • Demonstration units
  • Sales and marketing
  • Working capital
  • Overseas development
  • Offer costs

Risks

PT Blink Limited is subject to a range of risks. While investors should consider all the risks before applying for shares, we recommend that investors take particular notice of the following:

Commercialisation risk – If PT Blink is unable to increase the awareness and acceptance of the Blink Technology using the five projects currently under contract, they may not achieve their goals.
Key staff risk – PT Blink is reliant on a few key senior management and experienced personnel. The loss of one of these members may affect the Company’s prospects.
IP risk – PT Blink’s IP is currently patent pending. If the Company is unable to protect or enforce rights, other companies may copy the product and technology which would affect the Company’s prospects.
Funding risk – PT Blink may run out of cash and may need to raise additional funds to achieve its goals. This may not be on favourable terms and may dilute shareholders. If additional funds are not available, the Company may not be able to execute its business strategy.

A more detailed discussion of risks facing the Company are set out in Section 2.6 of the Offer document.

Management and Board

PT Blink has a highly experienced and capable Board. Murray and Brett are the only full-time staff at PT Blink. Following the raise, Edward Lynch will become the full-time CEO and a sales and marketing executive will be employed full-time.

Murray Ellen, Founder and CEO

Role:  Murray is responsible for the design and development of the Blink Technology.

Experience:

  • Structural engineer specialising in post-tensioned steel technology for over 30 years
  • Conceived, designed and completed projects in Australia, China, Hong Kong, Malaysia, Philippines, Taiwan and Dubai
  • Governor of Sydney University's Warren Institute for Advanced Engineering
  • Fellow of the Australian Academy of Technological Sciences and Engineering

Brett Crowley, Executive Chairman and Company Secretary

Role:  Brett is responsible for corporate governance, legal, finance and accounting.

Experience:

  • Solicitor and experienced chairman, finance director and company secretary of ASX-listed companies
  • Former partner of Ernst & Young (Australia and Hong Kong) and KPMG (Hong Kong) and a Senior Legal Member of the NSW Civil and Administrative Tribunal

Edward Lynch, Non-Executive Director

Role:  Ed is responsible for dealing directly with the licensees of the Blink Technology.

Experience:

  • 35 years industry experience as an innovator and strategic advisor in business development and design consultancy to property, technology and manufacturing
  • Delivered major initiatives and established and evolved businesses in manufacturing and development on every continent

The Offer is subject to a Maximum Subscription amount of $2,000,000. If the Maximum Subscription is reached, the Offer will close early. Applications will be treated on a time priority basis and may be subject to scale back, so please fund your application as soon as possible.

 

IMPORTANT: Please read the below information before investing in this Equity Crowdfunding offer.

RISK WARNING:  Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks. You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares. Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.

Even though you have remedies for misleading statements in the replacement offer document or misconduct by the company, you may have difficulty recovering your money. There are rules for handling your money. However, if your money is handled inappropriately or the person operating this platform becomes insolvent, you may have difficulty recovering your money. Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.

5 DAY COOLING OFF PERIOD: There is a 5 business day cooling off period for retail investors. During this period, you may withdraw your application and receive a full refund into your nominated refund account. More information here.

ONMARKET INTERESTS AND AMOUNTS SUBJECT TO COOLING OFF: The funding bar displayed under each crowd funding offer may include applications where payments are yet to be made and amounts that are subject to the cooling off period.

Section 734(6) disclosure: The issuer of the securities is PT Blink Limited ACN 613 446 003. The securities to be issued are fully-paid ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).‚Äč

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Question time

We'd love to answer your questions, we'll have one of the OnMarket team or the company representative of the offer get back to you asap. So ask away ...

Investment value

What is my investment worth. Is it shares or a %age of ownership?

Andrew A (OnMarket member) on 15/06/2018

Hi Andrew
The Offer is for investors to subscribe for fully paid ordinary shares at 20c per share. There are currently 17.9m shares on issue - go to section 2.7.2 on page 25 of the offer document. We are offering new investors up to 11.1% of PT Blink Limited in total if the Maximum Subscription of $2 million is raised - see Table 2 on page 26.
Regards
Brett Crowley
Chairman

Brett C (OnMarket member) replied to Andrew A on 15/06/2018

Hi Andrew
Correction - there are currently 79.75m shares currently on issue.
Brett Crowley

Brett C (OnMarket member) replied to Brett C on 15/06/2018

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Babin D (OnMarket member) replied to Andrew A on 04/07/2018
Financial performance

There is reference to 5 projects. How many will be completed in FY2017 and the approximate revenue if any banked in FY2017. What sort of loss do you expect in FY2017. Is your process patented or can copycats appear at any time? How have you mitigated that risk please?

Robin L (OnMarket member) on 19/06/2018
Financial performance and risk

Further to my earlier note - I see their is updated information that addresses the financial performance within the prospectus so no need to respond to that issues - just the IP and risk mitigation ones.

Robin L (OnMarket member) on 19/06/2018

Robin
Thank you very much for your question.
The Blink Technology is protected by the International patent application no. PCT/AU2017/000146 and is effective in Australia and in industrialised countries all over the world, as well as many semi-industrialised and developing nations (approximately 150 countries). More details can be found at section 2.4.4 on page 18 of the offer document.
Brett Crowley
Chairman

Brett C (OnMarket member) replied to Robin L on 19/06/2018
Shares

Rather concerned that you can make such a big mistake with the number of shares on issue. 17.9m first quoted then amended to 79.75m shares. This error does not instil confidence!

Lesley G (OnMarket member) on 27/06/2018

Looks like the dollar amount was quoted instead of the actual number of shares at 20cent.

Alistair B (OnMarket member) replied to Lesley G on 27/06/2018
Production ethics

Combating and preventing slavery and the mistreatment of workers is becoming more prevalent on the social radar these days. What assurances/checks and balances will you have that the manufacturers of this system are paid a living wage and given all of the rights stipulated by the ILO/UN?

Vince B (OnMarket member) on 28/06/2018

Vince
I am delighted you asked that question. One of the driving forces behind the decision to develop the Blink Technology was a request from an Australian steel manufacturer to assist it in competing with cheap foreign imports.
You can see on our video the manufacture and assembly of the Blink Components for the Spring Hill building in a factory in Queensland. You can also see photos of the Australian manufacturing on page 16 of the offer document. All of the Blink Components were 100% manufactured and assembled in Australia from Australian produced steel.
Manufacture is taking place today in Toowoomba of the Blink Components for the Multiplex Brisbane site (see page 10 of the offer document) and the project at The Gap (see page 11 of the offer document). Australian produced steel is exclusively being used. The adoption of the Blink Technology is resulting in Australian manufacturing jobs being created.
The planning for the 92 room hotel in Sydney (see page 12 of the offer document) is in the advanced stages. Together with the owner and the builder, we are spending considerable time in the factories in Sydney where the manufacture of the Blink Components will take place. The Blink Components are not only the steel columns and trays, but also the bathroom pods, other steel components such as stairs, and window assemblies.
The adoption of the Blink Technology is and will create Australian manufacturing jobs in place of foreign imports. We have little doubt that all of the Australian manufacturers of Blink Components are fully compliant with Australian workplace laws, including pay, conditions and OHS.
Brett Crowley
Chairman

Brett C (OnMarket member) replied to Vince B on 28/06/2018

Thanks for that.

Vince B (OnMarket member) replied to Brett C on 28/06/2018
As the Company 'loss' is $552,308, what remuneration are the directors receiving now and will that change after being floated ?

Mr Brett Thomas Crowley
Mr Murray Edington Ellen
Mr Max John Crowley
Mr Anthony Ross Ellen

John E (OnMarket member) on 28/06/2018

John
Thank you for your enquiry. In table 5 at page 35 of the offer document is details regarding expenditure of PT Blink over the next two years. The total payments to directors are $550,000 per annum. The directors will not increase their remuneration on completion of this offer and do not have any intention of an increase in the foreseeable future.
In your enquiry, you referred to the Company being floated. That term normally means being listed on the ASX. At the end of this offer, the Company will not be listed on the ASX, please refer to section 2.3.6 on page 13 for further details.
I also note the reference to Ross Ellen and Max Crowley as directors, this information appears to be from an out of date source. Ross was a director at incorporation and has since been replaced by the experienced Edward Lynch. Max Crowley was an additional company secretary and has never been a director.

Brett C (OnMarket member) replied to John E on 28/06/2018
Priority offering to crowd funding particpants

With the foreseeable IPO listing, will those participating in the current crowd funding venture be given a priority allocation if and when the Company lists on the ASX?

Matthias S (OnMarket member) on 01/07/2018

Matthias
That would be the normal practice. I can't give an undertaking now as it would need to be a decision for the board at the time of any IPO, taking into account broker's advice.
Brett Crowley
Chairman

Brett C (PT Blink Limited representative) replied to Matthias S on 02/07/2018
Reduced costs

Noticed in the information the Company indicates reduced times and costs with regards to construction utlising the Company. Time frame reduction has been mentioned but I saw nothing relative to the costings. As an example are you able to indicate the estimated savings in the Spring Street, Brisbane construction if conventional building methods had of been used instead of the Company's method? If not this one, maybe one of the future projects mentioned.

Matthias S (OnMarket member) on 01/07/2018

Matthias
The developer in the Spring Hill project in Brisbane did not provide us with detailed comparisons. We understand the decision to proceed was based on the time savings and the construction method which resulted in a number of trades normally on-site being redundant. All of the work we have done on future projects shows that there is a reduction in costs using the Blink Technology. The use of the Blink Technology results in the builder being able to move away from traditional decades old design and construct methodology and utilise DMA (design/manufacture/assemble). The cost savings and the time savings will increase based on the extent that the builder chooses to use the Blink Technology to increase the proportion of DMA on the site.
Brett Crowley
Chairman

Brett C (PT Blink Limited representative) replied to Matthias S on 02/07/2018

Thanks Brett for commenting on both my questions!

Matthias S (OnMarket member) replied to Brett C on 02/07/2018
Sales and Marketing

Good Evening Brett

It seems to be a great technology break through, and looking towards the future, is there a time frame that you may take on sales, business development and marketing staff as it presents as a great opportunity across Australia, NZ and in the future, moving to other places such as UK, Canada and US.

Do you have a time frame on hiring these staff based on the contacts that you all currently have and can leverage for business?

Keith

Keith L (OnMarket member) on 17/07/2018

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PT Blink Limited

PT Blink Limited
More equity available.
Raising up to $2 million.
 

Before investing please consider the offer document and the general risk warning.

 

PT Blink has a proven technology that can halve construction time and reduce costs of multi-level buildings. By assembling trays and columns offsite and post-tensioning steel, PT Blink can double project IRR and improve safety, accuracy of design and environmental outcomes. The Company has successfully licensed its IP for a number of construction projects, including a Multiplex development in Brisbane and a Fletcher Building project in Auckland. 

Already at +$500,000! More equity on offer, now targeting $2 million

Target $500,000

112%

$559,753

Raised

3-11%

Equity

367

Investors