Ann: Capital Raising Update, page-626

Thanks for the input from the regular insightful contributions in the forum, makes for a great read.

I agree that on the face of it, the current Cap raise appears to be a complete misstep, and I’m concerned about the massive drop in market cap. It leaves us more vulnerable on a number of fronts.

I think that the Infineon design announcement is fantastic though, as well the fabbing of the chip back at IMEC. This will definitely add enormous value. Especially if its designed to help expose some of the new and unique characteristics mentioned in PL4 (inc one shot programming, multi state etc), which I believe that other reram tech cannot do. Maybe this is part of the reason Dory isn’t the right machine. Developed by 4DS, Designed by Infineon and built by IMEC!

I suspect the long silence leading up to the announcement (including AGM omission of intel) was the 3 way negotiation in play. Was Dave sweating bullets at the AGM? He knew the deal was in progress but couldn’t say anything. Once it was penned he needed to raise capital, with only a few weeks left in the year. it feels like it was probably all a bit rushed.

The unpredictability of the market, the changing needs of the tech world, and the capabilities of 4DS reram tells me that we need to be prepared and funded for any possibility. This means that a healthy share price is important for raising capital as well as to reward shareholders. Hopefully they get it right in January.

Despite Daves demeanour and approach, he’s always managed to keep the company funded in the past. He has many years of experience working in ASX listed companies. Can we really hire someone else on the same wage that has this experience? I looked at his bio today and he’s got decades doing thiswork. 200k seems low for a CEO of a listed company, isn’t it? This latest attempt to raise capital by Dave failed, but I don’t think we should throw the baby out with the bathwater.

If development is going to continue long term, then I’d agree that a charismatic tech focused chief might be needed, but that’s the role Peter Himes is filling, isn’t it? Dave is the link to the ASX for 4DS, so I think that he would always have an important role to play if the company is listed here, in one capacity or another.

Product development must go on, regardless of any potential buyout. They’ve stated this before many times before. The design by Infineon, then hand back to IMEC, is a clear roadmap for the next 1.5-3 years. How many microcaps plan in detail beyond that? Not many I wager. Transactions can occur at any time of course.

just a few random thoughts. I personally think that 2025 could be a cracker for 4DS, but not the greatest way to end 2024.