Forum Topics FBR FBR Another cap raise

Pinned straw:

Added 8 months ago

It was only a matter of time. It'll be interesting to see what story they weave around this one, and who actually ponies up cash.

While not bothering to say much at all to shareholders about the failed JV attempt with CRH Ventures, FBR management have been busy meeting with fresh industrial partner targets (Samsung Heavy Industries of all people) and Australian politicians (the Federal Minister for Housing).

That disregard for the little people combined with the fact that these little people have been bled dry over the last few years makes me very curious to see what they've got up their sleeve (if anything).

I am a sucker for a good story but this is starting to look like the Police Academy movie franchise.

wonkeydonkey
Added 8 months ago

I note on Linked in the videographer has just moved on from FBR, maybe the promotional videos will be decreasing

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Arizona
Added 8 months ago

Nice work @wonkeydonkey That is getting down into the nitty gritty.

I love it.

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tomsmithidg
Added 8 months ago

So not great news for existing FBR holders:

Thursday, 27 March 2025 – Robotic technology company FBR Limited (ASX:FBR; OTCQB:FBRKF) (‘FBR’ or ‘Company’) announces today a two-tranche institutional Placement (“Placement”) to raise approximately A$6.3 million, comprising the issue of approximately 628.3 million shares at a price of A$0.01 per share.

FBR has received firm commitments to raise A$6.3 million via a placement at an issue price of A$0.01 per share. Placement received support from Australian and international institutional investors.

So massive dilution of share value, offered direct to institutional investors with the average punter shareholder shafted. I didn't receive any offer to pick up discounted shares.

Looks like the 'bricklaying business' is now out of vogue, and now it is vague application of 'intellectual property' as a 'world leader in stabilised long boom robotic delivery systems' :

"We are increasing our focus on developing adjacent applications for our technology to leverage our extensive intellectual property portfolio, aimed at generating faster returns for shareholders. FBR is establishing a workstream of more traditional paid technology development services with the intention of manufacturing and licensing the end-products. FBR has become a world leader in stabilised long boom robotic delivery systems. Recognition of FBR’s expertise in the area has generated opportunities to utilize its existing knowhow and technology to develop bespoke solutions for leaders across global industry. FBR aims to increase focus on developing adjacent applications for its technology to leverage and expand the footprint of the extensive IP portfolio and generate faster returns for the business. Work completed on boom delivery system, autonomous shuttles and metrology solutions tailored for outdoor robotics can be quickly applied across industries".

Allegedly this is to 'accelerate revenue generation', I won't be holding my breath. Hopefully my healthy cynicism is misplaced and they become some sort of robotics R&D powerhouse, but that isn't the business they purported to be in when I bought in.

Maybe we could get someone from FBR in for a Meeting and 'Put them to the question', if anyone were actually interested.

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tomsmithidg
Added 8 months ago

@lastever yeah mate, I'm the same, I love the idea of the technology, particularly with the state of Australia's building industry and dearth of tradies, but I wasn't stoked to see another capital raising. I'm in a hold and see pattern now IRL, with FBR but my optimism is fast fading.

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Schwerms
Added 8 months ago

Not sure why the government doesn't do something to push it along a bit. Maybe the economics of block wall houses don't stack up here.

For bigger walls that require reinforcing / core fill maybe this doesnt work that well, it's hard to see how to easily integrate the reo into the process.

Did you guys watch the demo video where they had the block adjusters going behind as it laid them to square them up if they needed it? Is that required for all the walls it builds? think it was the pulte video.

Maybe the 3d printed houses will become a thing and kill what would be most of its market (single story resi?)

Not held but curious to see where it goes from here..


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tomsmithidg
Added 8 months ago

I actually thought the economics would stack up better here than in the US. Labour here is limited and expensive, in the US it is cheap and plentiful. I wonder why they don't actually have a go at a housing development themselves. Prove they can do it faster and cheaper, you'd think in the current market it would be lucrative too. Apparently they claim to have worked out how to do it with reo, so that shouldn't stop them. I'd like to see them be successful doing houses particularly in the current housing 'crisis'.

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pdevries
Added 8 months ago

Not a bad thought and I think Brickworks is a major shareholder and may have some land for them. I saw the videos of the quality of the houses in the US and they did not look great (i'm no builder though). I bought them because with a major housing crisis in this country you would think something that could speed up construction would be taken up by govt. FBR has been a major learning share for me, so for that i am thankful. Red flag for me going forward constant capital raising and business development by media announcement. you live you learn.

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tomsmithidg
Added 8 months ago

Same here @pdevries , I thought they would be very successful given the wafer thin building margins. I also agree that the blocks the robotic arm layed on the video didn't seem very neat. I wondered if that was inconsistency in the blockwork itself, but still not particularly aesthetically pleasing. I was also excited by supporting an Aussie company building new tech. I was definitely guilty of letting my excitement for the potential override sufficient analysis of what was happening. I'll 'hold and see' though and hope they come good, otherwise I'll also chock it up to a learning opportunity.

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wonkeydonkey
Added 8 months ago

@Schwerms yes the block adjusters seem to be a requirement to double check that everything is aligned perfectly

reo is described here a bit

Starter bars were inserted into the concrete slab, with couplers used to install rebar through the aligned cores of the blocks and concrete manually poured into the cores. Steel cages were inserted into the block columns built by the Hadrian X®, with a concrete pump used to fill the columns.


https://www.youtube.com/watch?v=l1O1yRZO2Fg

360fa3a05fc9cfee6aa897f9d0087177d4046a.png

@tomsmithidg I have been looking at some of the videos for quality. It generally seems OK. There is a bit of excess glue on some buildings, I assume it will be rendered and is good enough??


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