Another state-of-the-art brick in the robotic wall, page-3

"DMY Capital (DMY) 2.7c (suspended)
Shareholders in the former winemaker yesterday rubberstamped the shell entity’s plans to combine state-of-the-art robotics with one of the world’s oldest professions (no, not that one).
DMY is the listing vehicle for the Brickworks-backed Fastbrick Robotics, which is developing a machine to revolutionise the ancient art of bricklaying.
Perth inventor Mark Pivac and his cousin Mike have already developed a demo vehicle, Hadrian 105, that can neatly erect rows of bricks without human intervention.
The next step is a commercial prototype, the imperative being to reduce the 30-tonne weight of the garbage-truck sized Hadrian 105.
Fastbrick has attracted interest from afar as Russia and Saudi Arabia. The company has also attracted the gaze of heavyweight machinery makers, which may lead to the IP being licensed out.
Mike Pivac, Fastrack’s CEO, hopes the units will sell for less than $1 million apiece.
“We are still on track to demonstrate the machine to some significant industry players in late 2015 or early 2016,’’ he says.
DMY reports “overwhelming’’ interest for the $5m opening leg of its raising, with a further $1m retail raising in progress.
Only $3m was sought initially.
DMY used to own the Dromana Estate vineyard on the Mornington Peninsula, known more for its fine cool-climate pinot than its ability to turn a quid.
DMY’s 650 holders yesterday voted in favour of buying Fastbrick via the issue of 164.7 million DMY shares at 2c apiece.
A further 499.9 million shares will be issued on achieving three milestones, the first being constructing a typical house structure within three days.
DMY shares have traded at a 0.7c, 35 per cent premium to the 2c issue price but are now suspended until the November 16 relisting.
DMY chair **riel Chiappini says the raising, carried out by Cygnet Capital, was well supported by “family-style” high net worth funds."