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$2.37 weebit nano ltd

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Outrunner43

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18/03/24

19:59

Post #: 72948522
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Originally posted by couldwellb: ↑

First time I was able to catch one of these in person and had to leave after the Q+A so here's a basic rundown as I saw it.

Pretty vanilla presentation, just a recap of todays PowerPoint with some expansion on salient points. Nothing venturing to far towards being price sensitive. On par for how previous versions of these investor meetings have appeared in webinars.

Of note was the reinforcement they are working towards qualifying weebit ReRam at 150 deg and one of the top 3 auto companies has expressed interest in seeing these results when available. R+D is still ongoing and more important as they try and close some of their product company contracts based on feedback.

They both expressed their belief that two or three deals aren't that far away from being finalized but reinforced early adoption is not a fast process. There was a tornado metaphor thrown in a few times for their latest sound byte but I'll leave the details out as you can all hear it via the Sydney presentation virtual access.

Personally, I got the impression weebit have been busy and not without struggle trying to close out deals with product companies. When this was discussed it was put forward that this is quite normal for this part of the process and there have been no showstoppers or aborted contact because of these. Coby and Dadi between them give off a confident air, acknowledging that things aren't going quickly but progress is still happening and weebits ReRam isn't far away from having an impact.

Mandatory cap raise question was asked and the response was they are funded through to 2026 but also that in the current economy the best time to raise is when you can. They said these discussions are always taking place at board level and they would take all relevant factors into account for any future CR.

All in all, it appears to be business as usual and appreciate that WBT are happy to front up to investors regardless of news, good or bad.

Expand

Originally posted by yabo: ↑

I went to the Perth meeting and it was good to see Dadi there.

Firstly, the presentation out this morning obviously showed there were no major updates but there were a few tidbits which I will touch on.

Coby skipped through the early parts of the announcement as they weren't new.

He talked to the new Chief Revenue Officer and said that he had the ground running and had been all over the world talking to industry participants about WBT.

Coby he explained that he had previously been handling these duties with another executive and that there was now a need for a dedicated person. Sounds like he has great skills and contacts, has hit the ground running and is an experienced executive in this role in this industry.

I think this is a big positive as there is obviously a need for one to close deals.

Coby said that the DB Hitek team were very impressive and much more proactive than Skywater and he was there two weeks ago.

He said that they has a very good relationship with Skywater on the R&D side. He said that Leti was doing the research and Skywater the development because they were good and cheaper than Leti.

He said on the fab side, Skywater have chosen to spend their funds in certain areas and that adopting IP to support reram was a lower priority.

Coby stated that he understood shareholder's frustrations that from the outside it sounded like nothing was happening, when in fact so much was going on that was not yet finalised.

He stated that signing additional fabs was their current priority.

Coby stated that they had received a lot of interest in their forthcoming live ReRAM Demo on GlobalFoundries’ 22FDX® Platform at Embedded World in Germany in April. he said that had so much interest that were taking an additional processing so they can run demonstrations in parrallel.

All in all he said every fab was different and that discusions on each one were at different stages. He hinted that a couple are close in terms of this year.

He talked about the chasm that all tech start ups had to overcome to get from a good product, to engagement and adoption by the industry. He explained in detail the cautious nature of the industry and that generically it was often the second or third sized player that was prepared to take the first user investment to try to gain market share with a new product.

It sounds like there is a lot going on, but we all know it is a cautious industry that requires patience and most of the things that shareholders are craving for are under discussion but the timing is in the control of large cautious players.

Coby and Dadi avoided the politics of the current war, but said that as a country and industry their motto was to never miss a beat. He talked about plans that they had in place for this very event. He noted that Intel and one other (I forgot) had made announcements about huge investments in fabs and data rooms in Israel since the war commenced.

I think Israel and the war is not really a major risk for them.

There were a lot of questions about the share price and the time it takes to get revenue.

Firstly Coby reiterated that they had always dampened expectations for short term revenue and said it would come in bits and pieces. He said that they had received first revenues and hoped for more over time, but that they were concentrating on the fabs as they ultimately would drive customer engagement and real revenue.

Unfortunately we had follow up questions that showed a lack of understanding of the industry and how it works. We had one person who told Coby that as we have a great product why do we modify it for fabs and customers, and instead just say we are the best and take it or leave it.

Coby and Dadi did well to remain civil at that line of questioning.

With regard time to a higher share price/big announcements they pointed out that they were big shareholders too and were working flat out to tie up what we want.

In the end there was someone that basically complained the timelines of the semi-conductor industry didn't suit the time frames of Self managed Super Funds. Coby and Dadi remained patient throughout.

All in I walked away far more confident in the business we have than at any other previous presentation.

Its a great product that is in the right place at the right time in a massive industry that is going to boom.

We have a great team (13 PHD's in R&D), great management and a world class product.

There is obviously huge opportunity and It sounds like they have a lot of interest, however there will always be a risk until they sign fabs and customers and this will play into the share price.

The share price will do share price things and Weebit will do semi-conductor things and as the timelines are different there will be significant volatility until there are announcements.

At the end of the day you either believe they will get there and in a timely manner, or you don't and no amount of complaining or silly questions will change the timelines.

I thought Coby and Dadi were more polished and confident than at any time previous so take that how you want.

Hope that helps.

Expand

thank you.

WBT Price at posting: $3.68 Sentiment: Buy Disclosure: Held
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