Ann: March 2024 Quarterly Appendix 4C, page-40

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the trickster

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02/05/24

10:59

Post #: 73625742
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Originally posted by Bb1974: ↑

I agree with you, but where this problem has arisen, is instead of licensing out their hearing tech, like the other companies do to multiple vendors, they have spent the funds raised on pursuing the idea of having there own dedicated chipset, of which Apple is the only company so far to do so, who have billions of dollars at their disposal. What they should have done is first licensed out there current platform, then if there was a large enough market, built there own dedicated chip from sales from OEM, instead of borrowing money that has now, to all intents and purposes, pretty much made them insolvent.

They spent almost 6 million on a dedicated chip thats still not ready, they have spent 5 million on millar, 3.5 mill on cannington, 1.4 million on CFO costs - just between those four thats 15.9 million dollars washed away - that would have meant there were no issues today, even on a flawed strategy. These are extraordinary costs and salaries for a start up, which have left shareholders diluted multiple times over, have led to non-trading and almost insolvency.

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I am not sure the chip is "dedicated ".
Leroy in last year's presentation spoke about multiple applications of the technology
Once RealTek came on board they became a platform company and that is what they needed to focus on.
Instead you had a company with limited resources running two parallel strategies
Agree about the salaries, completely obscene given the non delivery and non execution.

NUH Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
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Ann: March 2024 Quarterly Appendix 4C, page-40

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