Webinar Tomorrow 2/03/2021, page-31

Coby:I can’t say WHICH one (of multiple possibilities) of the deals we will close.There is a risk that there might be a small delay in a commercial agreement but I still believe we can make it. Technical side is going well.OTS - I can let people know we are making good progress on the selector.ReRam + selector cell will be ready by September.We have our next milestone lined up - a small working array by 2022 - ahead of schedule.Despite all the challenges of Covid - we are making good progress.Focus is on a commercial agreement by middle of year.
Can you have a commercial agreement without a fab agreement - YES.
Getting the fab process happening will take months.
Fabs are potential business partners - manufacturing under licence.Customers may sign up for tech but they have to know that it works so their product may still be a year away.Customer agreements might talk about them using the tech with their product and our tech needs to be ready when they are ready to go into production.
One (Customer) will definitely happen (I shouldn’t say definitely bc there may be a small delay).
Dadi: Directors share sales - at the end of the day we don’t control directors sales. It's very small amounts. Directors are not obliged to hold forever. Dadi is in the top 10 holders. Plans to remain there.
Coby - since the beginning of WBT directors have participated in pretty much all cap raising. He and Dadi have put in their own money. Its normal for people to access their own funds and these were small sales.
Dadi - the two big markets for semiconductors are North America and China. All the big companies are selling in China and most producing in China. China is a market that can not be ignored.
Coby - every new customer needs a personalised product - so in the early stages, the new requests require additional work. As more customers emerge, often they will want the same functionality as other customers so in time, investment for new variations decreases. when you have a big cmopany wiht many customers the margins grow.
Dadi - its hard to know how the revenue will happen bc of the different types of commercial terms that will apply. In general when a customer licenses the tech, normally it's a year or 18 months till royalties. A licensing agreement is common, but until the product is coming out the door its not usual to have royalties coming in.
Fab transfers, given the impact of Covid, is there any possibilities of using a fab in Israel? We are talking to fabs all over the world including Israel. Once we have news we will announce it.Is listing in the USA a possibility?
Dadi - a lot of people ask this. We are happy with ASX listing. We are happy being in Australia. However once the company matures, we can’t rule this out. We have more and more investors from US, Israel, Europe. We've been getting a lot of interest from outside Australia. This is very exciting.
Coby - we’ve attended trade fairs, we’ve presented papers at some of these events. Coby misses face to face events bc he likes seeing people walking the isles and talking to them bc they recognise him!!!
How does our product compare with TSMC’s product? They recently announced a ReRam product and Coby sees this as positive. People use the term ‘emerging future memory’ which sounds like it is futuristic. When others start taking about it - it becomes current, NOT future! This stirs up discussion. It has people wanting to get their hands on the tech. Competition is good, we expected to see competitors. It's positive news that they are providing ReRam.
What application are best matched to the tech? Dadi - embedded memory is the first phase. Stand alone memory is the second phase. Big storage applications. AI? This is where the big money is but it will take longer. Demand is huge and growing. Existing tech is starting to fall short. Competitors - TSMC uses a different material. Competitive landscape is continually changing. …..It's hard to comment on competitors because we don’t know exactly what’s going on. Coby thinks we are ahead of other startups and feeling positive about where we are at.
Dadi - Directors - big names open doors but that doesn’t mean customers will write checks on the basis of this.
Coby - A few weeks ago, there was an announcement of TESLA recall - this was bc of an issue with screens and issues with the memory chip. The flash chips started to fail. Our components will have advantages over flash chips. We've already started to accelerate the process but I dont have dates. We will have a small array early next year.

I had to leave at this point.I have very little understanding of the tech matters so apologies if this makes things unclear. I had to leave the meeting early - but my own personal notes below. I'm sure others will add to this, and perhaps correct anything I didn't get quite right. Taking notes on the fly!