Ann: Investor Presentation, page-3

Slide 4: $1 trillion market for semi-conductors by 2030.

This is the type of statement by from startups that always worries me. There is a huge potential market, BUT how much of that market will eventually be won by our product (hint it won't be 100%).

Q1. how much of that semi-conductor market is non-volatile memory (WBT target market)?

Fact: WBT has only produced a maximum chip size of 1MB. My flash usb drive has a capacity of 125GB (125,000 times the size of the WBT memory).

Conclusion: WBT ReRam may be faster, cheaper, and more resilient than flash, but it lacks the demonstrated capacity today to compete with flash at real world scale for much of the projected market.

Q2. What proportion of the 2030 projected market can be target by the product WBT has today?

Q3. When will WBT ReRam have an alternative to replace my 125GB flash drive?

I still think embedded with a 1MB capacity has a place and a considerable market, but let's not oversell it by conflating that with the entire semi-conductor market.

I am like Mulder, I want to believe. But I must retain a healthy skepticism least I blow my investment here as I have on other dreams of world domination.