Well, Mooetan, you didn't ask me, personally, but I'll chuck my 2 cents in, anyway, because I'm not leaving that loaded question hanging there and allowing your insinuation to suggest CR's, in WBT's particular case, are something negative or "a risk" when it's not even necessary to have a business or commerce degree to dispose of that question with a highly reassuring response.
So, my opinion on your comment re: the foreshadowing of "another" CR in 3 years is:
1. We have a transparent BoD that sets a forward plan, openly informs shareholders, meets milestones, sets and delivers every time with no surprises, no excuses.
If they say that it's going to happen and when it's going to happen then, in my experience, you can take that to the bank and set your watch by it.
I appreciate the honest and professional approach in dealing with shareholders that you seem to be complaining about and their conduct certainly comes as no surprise when you look at the list of international household name companies that our Board members did their time and earned their stripes on.
I challenge you to find me a Board of Directors on the ASX with a finer pedigree then WBT's board. Go on, do it. Not possible.
And;
2. *woohoo* because if they weren't anticipating CR's after the ANN we've just had about our first WBT product ready to go to market then what are we even doing?
Please, I know the ANN was 3 whole weeks ago, but you've clearly forgotten the highly significant events of the last few weeks if you're now whining about CR's and do not understand the relevance (to your investment) of a CR following the last ANN. Please, let me refresh your memory:
Coby Hanoch 7/3/23: " Our valuable partnership with SkyWater has enabled us to bring this first Weebit ReRAM product to market. Our teams have worked tirelessly towards commercialisation of the technology, with our ReRAM IP now commercially available for customers to design their products in SkyWater’s US foundry."
"ReRAM is no longer the technology of the future – it is HERE, NOW."
“We are now working with a number of potential customers to map the technology’s advantages to their specific design requirements.”
THEN, after the ANN 3 weeks ago, our product made its international debut and was demonstrated in Nuremberg at Embedded World on March 14-16.
Then, barely a week later with already a super healthy balance sheet of $45m in the bank, already, our BoD is NOW seeking another $55m in funding via CR and share release to proceed...
And you're calling this a negative and a "risk"??? I'd be very worried if 3 weeks after *THAT* ANN and a week after our first S130 ReRAM IP module being demonstrated to the world of deep-pocket customers looking for *the next big thing* to replace flash, if the WBT BoD was NOT talking about CR's.
Now, THAT would be a massive red flag sell indicator for me and yet, somehow, you are characterising this awesome sign that has me thrilled to buts, as a portent of doom? Lol.
Do you know what the CR's you're whing8ng about are even for? Let's just take a guess, a wild stab-in-the-dark, shall we? I would assume that there's likely going to need to be a huge recruitment drive necessary to secure the technical, sales and marketing talent required to support those interested customers exploring our tech and its application in their sphere of interest.
You can't sell the product and have it ready to hit the ground running in the end-use applications that a particular interested customer wishes to employ it without having dedicated support personnel assisting that enquiry.
We're going to need a lot of boots on the ground handling this when the floodgates open, not to mention the likely lengthy requisite period of initial flux where they are being trained and becoming familiar with the product and evolving the skills necessary to translate an enquiry into a sale/licensing and $$$/rEvENuE.
How do you propose, exactly, that we pay for that?
It's one thing to "build it and they will come", it's another thing altogether to be primed and ready for the deluge and be in a position to capitalise on that.
So, and here's the punchline, the kind of exponential growth I'm anticipating, personally, does not occur like magic in the absence of preparation and the *necessary funding* required to scaffold and support it, SO...bring onnnnn the CR's because when you're commercialising a product and its finally about to take its first step off the much-anticipated (since Radar Iron days) precipice into the void of production, marketing, uptake/sales/licensing and consequent revenue then you're gonna need to spend money to make money.
And that's how the world works, kids. Follow me for this and more *common sense* bedtime stories because that's pretty much the extent of my business knowledge and acumen - common.sense.
I would be feeling very uncomfirtable if the outcome of reaching commercialisation and in anticipation of full qualification and following our debut at Embedded World if the reception we received from potential customers was such that the Board did not think it necessary to bother us with announcing the needs for imminent serial CR's, stat! JMO
(20min delay)