so the question was word for word. In sydney. A investor was asking about different geometries and if we tape out at 22nm and some people are happy with that product without a selector as discrete what next. Coby then says, if we develop that product (discrete product without selector) - weebit becomes the fabs client where weebit manufactures its own chip for sale.
The investor then says, in terms of money" (effectively to do that)
COBY's response- This is straight from the investor briefing (word for word) - just so everyone is informed
"in terms of money, it depends on the chip, the size of the memory, technology and parameters"
The investor the says-
"so we have funds to do that"
COBY responds
- we have enough funds to be honest with all the stuff we want to do, going after more foundries and doing this, we notified the market that we have enough money to take us into 2024 ah but obviously at a certain point we start to accelerate we "might" need more money earlier and its like we are not going to need another raise right, it pretty obvious that there will be another raise, you will see when and how, we are not under pressure, the good news is you dont want to get to the point where you are running out of money and you are begging people to invest so, we are in a good shape, we have alot of money in the bank, we have a long leeway, we will see how and whenever
You can hear it for yourself in the sydney presentation i posted at 46 1/2 minute mark
So i was at that meeting, it was a public announcement - those statement does not suggest a) you are talking to people re funding now b) you need it in under a month (unless something has changed and you have accelerated) - no announcement confirming that acceleration
They were talking to funders, it was leaked, people in the main who shorted knew, and it was manipulated, ASIC has a smell and has asked who knew (first time Ive seen that post a speeding ticket). The cap raise was one of the biggest discounts I seen for a company thats not under pressure - not my words - Coby's
Im up for volatility, shorting, and even a cap raise, but after those comments a cap raise 3 weeks later at 45% is not representative of his comments.
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