Boo, no SPP - tho this activity "may" explain the "seemingly inexplicable" 44% gain in SP in the past week

Weebit Nano Raises USD32.56 Million in Private Placement of Shares

Weebit Nano Ltd (ASX:WBT, Weebit Nano or Company) has successfully raised AUD50 million via a strongly supported share Placement (Placement) to existing and new institutional investors from Australia and abroad. Under the Placement, Weebit Nano is issuing approximately 16.7 million new fully paid ordinary shares at AUD3.00 per share (New Shares). Funds raised will be used to scale up commercialisation activities as part of new customer and partner engagements that are expected to materialise over the coming 12 months, to support working capital needs associated with further technology development, and to strengthen the Company’s balance sheet. Commenting on the successful Placement, Weebit Nano CEO Coby Hanoch said: “We are extremely pleased with the strong support we received from institutional investors. Whilst Weebit had an adequate cash balance, strategically, bringing forward the capital raise puts the Company in a much stronger position. With advanced discussions and negotiations progressing with multiple parties, and our goal to sign multiple foundry and customer agreements over the next 12 months, the strengthened balance sheet provides additional flexibility to pursue new business opportunities on a much stronger footing. “Whilst the Board and I would have liked to offer a Share Purchase Plan (SPP) for our retail investors, given the legal requirements of the SPP Offer Price needing to be lower than Weebit’s trading price in a specified period, and this Placement being done at a substantial premium to this, we have not been able to offer an SPP at the same price as the Placement on this occasion. “Weebit is uniquely positioned as the market’s only independent provider of qualified ReRAM. Our competitive advantages around customisation capability and the expertise of our team means we are extremely well placed in a large and growing market as the industry looks to replace embedded flash in next-generation devices

“We are continuing to see strong interest from foundries, IDMs, and product companies, and we remain confident in our ability to close a commercial deal this calendar year, as well as executing on our 2025 targets which include additional agreements with foundries and product companies.” AUD50 million Placement The completed AUD50 million Placement comprised an offer of 16.7 million new fully paid ordinary shares (New Shares) in Weebit Nano at AUD3.00 per New Share, a 6.5% premium to the 5-day VWAP of AUD2.82 per share. The Placement was strongly supported by institutional investors, both domestic and international, reflecting strong investor demand, and confidence in Weebit Nano’s ReRAM technology and its future growth prospects

Each New Share issued under the Offer will rank pari passu with existing shares on issue in the Company

Settlement of New Shares issued under the Placement is expected to occur on Thursday 21 November 2024, with allotment of the New Shares issued under the Placement scheduled for Friday 22 November 2024. The Placement will take place as a single tranche and fall within the Company's available Listing Rule 7.1 capacity. Unified Capital Partners Pty Ltd acted as Lead Manager, Bookrunner and Underwriter to the Placement (Lead Manager). The Placement will not be accompanied by a share purchase plan (SPP) because the requirements for SPP pricing to be less than the recent market price, cannot be met in this instance

DISC: Held in RL & SM

Key highlights • Demonstrated ReRAM at extended automotive conditions, including lifetime operation at 150 degrees Celsius and endurance of 100K cycles •

Tech transfer to DB HiTek progressing to schedule; engaging with DB HiTek customers •

First live demonstration of Weebit ReRAM on GlobalFoundries’ 22FDX® wafers at Embedded World conference •

Progressed negotiations and evaluations with leading foundries, integrated device manufacturers (IDMs) and product companies •

Appointed IP industry veteran Issachar Ohana as Chief Revenue Officer to drive ReRAM licensing sales.

WEEBIT NANO LTD (ASX:WBT) - Ann: Weebit Nano Q3 FY24 Activities Report and Appendix 4C, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Well WBT made it to my target for wave(V) down and broke below its long term trend line. It was interesting also to note that wave(iv) didnt rise to the usual targets. That tells me WBT is in the dog house with the investors until something develops news wise to reboot investor intersest. Im sitting here also watching the recording of the lastest interview with CEO Coby from WBT here on Strawman and he is reinforcing the "it's takes time to come to market" tag line. I have felt this a number of times in my investing experience.

Take Arafure (ARU), recently climbed 78% in 1 day just because the AU gov said it would fund a good portion of their new mine development for Rare earths. Ok thats great but its very early days for that to actually commence, hence the substantial drop back down on the same day.

Question is, how long will it take for WBT to explode. No one knows that. Will it rise from where it is now? maybe, although I dont want to be part of any fluke rises and then get caught when it drop back below my purchase price. I like to wait for the first impulsive move up for wave 1 and then the pull back of wave 2. Once I see how these 2 waves play out then I will determine weather I will enter for the historically most powerful wave, wave 3. good luck all

IP industry veteran Issachar Ohana to drive sales as company focuses on revenue generation

WBT prepping for growth Revenue - hope so..No real projections in this Presentation

WEEBIT NANO LTD (ASX:WBT) - Ann: Weebit Nano Investor Presentation, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Updated Charts and thoughts

So we made it to as low as 3.45 recently just below my wave 3 target of 3.51. As wave 3 went lower, this then pulls down wave 4's target shown by the box on this 1h chart. I also have a divergence showing up on my 1h RSI/Stoch indicator and it also hit resistance today, so I'm now looking for the next leg down to begin.

Im now looking @ 3.43 to 3.23 for my next target for the last wave 5 down. Trouble is, we have now formed an ABC pattern within wave 4, which could open the door to drop below my main Yellow Trend Line you can see on my charts. Ill revisit once the next leg down has finished.

Im watching this one ike a hawke as I believe it has loads of potential and there is a lot of hype over it, hece the volatility.

Further update on WBT charts. While wbt has had some nice 20-30% gains of recent, they havent been highly probable and therefore I haven’t participated in them. I am still seeing negaitive trends with weebit. I now have revised my charts taking into account the most recent price actions and it still points me down. You can see my new target has risen to $3.40 - $3.50. This is especially because we now have a firm wave A and wave B in place. The next wave should be a wave C down (comprising 5 waves) to my target area. In the greater picture we are still in an extended wave IV retrace which is common of wave 4, while still looking for a wave V down to the 1.20 - 2.00 region. Of course this thesis can be broken with substantial good news (invalidating my thoughts).

Quick update. While we have just have had a nice 3 wave structure up recently (which I took no positions in as it was too uncertain for me) breaking out above my consolidation triangle, I believe we will see an imminent reversal down now to my target shown @ around 2.95 so long as it doesn’t break meaningfully above th 4.18 price (recent resistance with top of wave (ii) shown on my charts) . You never know the exact path $ takes but over all the patterns and and targets $ hits tells a lot.

The 3 wave stucture up will now result in 5 waves down to the green taget (approx) with much higher probability. When it gets there I may take a position depending on my indicator etc. Good luck everyone.

Form 603 for JP Morgan - are these dudes setting up for shorting WBT?

WEEBIT NANO LTD (ASX:WBT) - Ann: Becoming a substantial holder, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

delivered by David (Dadi) Perlmutter 

WEEBIT NANO LTD (ASX:WBT) - Ann: 2023 Annual General Meeting - Chair Address, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

welcoming well-known Australian entrepreneur and marketing executive Naomi Simson to the Board in August 2023.

Return (inc div)   1yr: 8.36%   3yr: 17.24% pa   5yr: 36.34% pa

Positive news????? .......... Hopefully.

Taken from @WBT's announcement today

Coby Hanoch, CEO of Weebit Nano, said: “Revenue generation is a pivotal moment in Weebit Nano’s

commercialisation journey with our unique ReRAM well positioned to replace existing flash technology due to its

superior performance capabilities1. This milestone highlights our significant technical achievements over the past

year, including full qualification at both industrial and automotive temperatures for the embedded market,

where memory is embedded into a ‘system-on-chip’ (SoC). The embedded emerging non-volatile memory (NVM)

market is expected to reach $2.7 billion by 2028, with ReRAM expected to account for more than a third of that

Intelligent Investor / The Eureka Report has just published (the transcription of) an interview by Alan Kohler of Coby Hanoch, the CEO of Weebit Nano

https://www.intelligentinvestor.com.au/investment-news/weebit-nano-a-new-type-of-memory/153061

Table of contents:

Israel/Hamas conflict

Cash position

The non-volatile memory market

Deal with DB High Tech

Migrating from Flash to ReRAM

Unsure if it's paywalled or not (probably is)?

DISC: Held in RL & SM

Weebit CEO Coby Hanoch said: “Despite an extremely challenging situation in Israel at present, Weebit’s team and operations in the country continue to deliver against its plans. Unfortunately, this is not the first time we have faced a situation like this, and we have well-thought-out contingency plans in place to minimise disruptions to our operations

WEEBIT NANO LTD (ASX:WBT) - Ann: Weebit Nano Q1 FY24 Activities Report and Appendix 4C, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Based in Israel and France

AGM November 2023:

Cost effective NVM.

Price up to $3.40 9.3%

An announcement just out from WBT - there were hints of this in your conversation with Coby during your recent @Strawman meeting with him. Given the bump in SP yesterday perhaps the market knew before this public announcement

Weebit Nano licenses ReRAM to DB HiTek, a global top-10 foundry

DB HiTek to manufacture Weebit’s embedded technology in customers’ analog and power designs

Weebit Nano Limited (ASX:WBT, Weebit or Company), a leading developer of advanced memory technologies for the global semiconductor industry, and DB HiTek, one of the world’s largest foundries, have signed a commercial agreement whereby DB HiTek has licensed Weebit ReRAM for its customers to integrate as embedded non-volatile memory (NVM) in their systems on chips (SoCs)

Headquartered in South Korea, DB HiTek is a global top-10 foundry with annual revenue of more than $2 billion

Under the agreement, Weebit ReRAM will be available in DB HiTek’s 130nm Bipolar-CMOS-DMOS (BCD) process – ideal for many analog, mixed-signal, and power designs in consumer, industrial, and other IoT devices. For these applications, Weebit ReRAM provides a low-power, low-voltage, cost-effective NVM that is easy to integrate and has proven excellent retention at high temperatures. As a back-end-of-line (BEOL) technology which does not require process tuning, ReRAM offers significant advantages over flash for BCD processes. Weebit ReRAM also provides higher density and endurance than conventional Multi-Time Programmable (MTP) technologies

The agreement includes technology transfer, qualification, and licensing. In addition to its 130nm BCD process, DB HiTek has the option to use Weebit ReRAM technology for other process nodes

Coby Hanoch, CEO of Weebit Nano, said: “DB HiTek is one of the world’s top-tier foundries for analog and power integrated circuits. As one of the world’s largest contract chip manufacturers, DB HiTek’s extensive customer base can gain significant advantage from using Weebit ReRAM in their new product designs, including improvements to retention, endurance, and power consumption. Our collaboration with DB HiTek is commencing immediately, beginning with the transfer of our technology to the company’s production fab. We are seeing increasingly strong market demand for Weebit ReRAM and expect to sign further commercial agreements, including many of the top- tier foundries and integrated device manufacturers as well as fabless design companies, in the coming months”

Ki-Seog Cho, CEO, DB HiTek, said: “Weebit ReRAM will provide customers using our 130nm BCD process with a very low-power, high-density and cost-effective NVM. Given Weebit’s high-quality technology and unique combination of design and process engineering, we believe the technology transfer and qualification processes will proceed quickly. Looking ahead, we’re delighted to see Weebit’s strong commitment to continued roadmap innovation”

Under the technology transfer and qualification agreement, Weebit and DB HiTek will immediately cooperate in transferring Weebit’s embedded ReRAM technology to a DB HiTek production fab and then continue to qualify the technology towards volume production

The technology licensing agreement grants DB HiTek a non-exclusive license to manufacture Weebit ReRAM as embedded NVM in designs from customers globally. DB HiTek will add Weebit’s memory module to its BCD 130nm Process Design Kit (PDK). DB HiTek customers can use the standard modules in the PDK or have modules customised for their needs. Weebit will receive manufacturing license fees, project use fees and royalties based on production volumes, with these license fees and royalties determined by Weebit when delivering the relevant modules to customers and may differ for each module

The economic materiality of this agreement is not known at this time due to the contingent nature of the license fees and royalties, as they depend on the number of customers who sign up to use Weebit’s technology and on the number of chips those customers produce using Weebit’s technology. However, Weebit views this commercial agreement as strategically important given DB HiTek is a global top-10 foundry, and further validates Weebit’s cutting-edge technology

DISC: Small position Held in RL & SM

Short interest has increased to over 6%. Short sellers may be coming after them after it was added to the ASX 200 index?

https://www.shortman.com.au/stock?q=WBT

It's a 603 big Buddy.

Fully Paid ordinary shares: 9,712,338 5.18%

Fully Paid ordinary shares Notice of initial substantial holder 9,712,338 *Note these securities are comprised of 1,563,864 shares in which First Sentier Investors Holdings Pty Limited and its subsidiaries have voting power and 8,148,474 securities in which First Sentier Investors Holdings Pty Limited's ultimate parent, Mitsubishi UFJ Financial Group, Inc. on and from 24 August 2023, has informed it that it has voting power prior to the date of this notice. Holder of relevant interest Class and number of securities Fully Paid ordinary shares.

Who is Sentier?

Adviser Asset & Investment Management - First Sentier Investors

4 growth stocks to watch in a tough year for growth (firstsentierinvestors.com.au)

2022 ideas: WTC, PME, MP1, AUB

Mid Cap Team:

It seems that this company has developed this cutting edge technology, which may???? become an industry standard.

It is a shame that I don't have the same confidence in the way it is managed!!!!

Funny????? things again occuring with the share price!!!!

An opportunity to top up?????? .......... or just get out?????

confirmation: Weebit Resistive Random-Access Memory (ReRAM) IP has been fully qualified for industrial temperatures employing SkyWater’s 130nm CMOS (S130) process, including third party processing

WEEBIT NANO LTD (ASX:WBT) - Ann: WBT's ReRAM IP now fully qualified in SkyWater S130 process, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

The sudden pullback (16+%) in the SP yesterday makes me worry that there might be a leaky ship, with some information pending, despite no ASX announcement.

I like (I thought) what the company is doing and want to believe that everything is "Ridgy Didge", but this is the second time (the first being just before the Capital Raise) over a couple of months something like this has happened.

Should I be concerned???? Is there something in the pipeline that a few know about?

Just wondering if I am alone here, or if the expert Brain's Trust out there, believe that it just part of a "normal" fluctuation???

TIA

Director: S.Atiq Raza, Acquired: 84,360 Ordinary Shares. Disposed: 90,000 Unlisted Options

Weebit Nano Limited is a leading developer of advanced semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products such as Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications and artificial intelligence

I will take the contrasting view. A few weeks ago I wrote on here that management should raise some cash while the opportunity presented itself, albeit higher levels would have been even nicer! This sucks short term, it always does, but my view is good management teams raise cash when the share price gets out of control. Look at what it's done to 3DP -- they are running on an oily rag despite commanding a ridiculous valuation at one point. They never raised cash when they absolutely should have. We shouldn't for a second think that Weebit should realistically be priced at 6.00-7.00 in this current market -- essentially a market cap of 1b for a company that (currently) doesn't make a cent of revenue. Don't get me wrong, I sit firmly in the bull camp here, this is a company that could realistically be earning billions in revenue one day. But that day is many years away and to get there they will need cold hard cash. Raising capital at 5.00 per share significantly reduces dilution (vs 2.00 a share). Yes, the share price games this week have been disappointing, but I am also careful to blame management / the company in this scenario, particularly with no evidence at hand. There are lots of people that are exposed/aware of a capital raising like this, and a good portion of those are external to Weebit. I think it pays to be cautious about a leaky ship, but I don't want to be too emotional about this in the scheme of things. Onwards and upwards.

I have to completely agree with @BullsWool.

Yesterday's sudden & dramatic sell-off, smells heavily, dare I say of "Insider Trading ". If not, then certainly not a good look, despite their response to the ASX query!!!!!

Sure the price had ramped up over the past few weeks, and probably not sustainable ....... BUT ...... the sudden pullback?????????

I must admit to a level of disappointment that some in the market were clearly aware of the upcoming capital raise and the discount to previous market price. This is the second time they have had issues in the last 6 months and sends a bit of a worrying signal.

Only 1291/173,640,855 shares of Weebit shorted. Why am I not surprised?

You’d have to be either brave, or stupid, to short Weebit at the moment. Well that’s my opinion!

(

"Weebit looks forward to first revenue in 2023​

News | January 31, 2023

By Peter Clarke

Coby Hanoch, CEO of resistive RAM pioneer Weebit Nano Ltd. (Hod Hasharon, Israel), has said he expects the company to make its initial sales in 2023.​

In a quarterly round up of progress at the listed startup for 2QFY23 Hanoch said: “Weebit Nano achieved key milestones in its commercialisation roadmap during the period, receiving the first silicon wafers with its embedded ReRAM from a commercial fab, commencing qualification at SkyWater, taping-out its first 22nm demo chip, ramping up discussions and evaluations with Tier-1 foundries and potential customers, and progressing longer-term development activities for the discrete memory market. Our progress in the first half of the financial year means we are well-placed to productise our embedded ReRAM technology and secure first revenues in 2023.”

He added that technology qualification is now underway with Skywater Technology on its 130nm manufacturing process and should be completed in the 1H23 enabling mass production in 2H23.

Hanoch added that TSMC’s offer of ReRAM as an alternative non-volatile memory has changed perceptions about the technology (see Infineon’s microcontrollers to go RRAM with TSMC).

“Demand for ReRAM is growing rapidly with many Tier-1 foundries now looking to add ReRAM as an alternative NVM to cater to customer requests. The use of ReRAM from the world’s leading foundry in major consumer products has been instrumental in changing industry perception of ReRAM as a future technology to one that is available right now,” Hanoch said.

Hanoch said Weebit is now engaged with multiple world-leading wafer fabs.

Meanwhile Weebit and Leti have started a qualification process for higher temperatures and for higher cycling endurance.

In addition, Hanoch said, Weebit and Leti continue to make progress on a ReRAM selector device to enable high-capacity arrays. While the initial focus of Weebit’s ReRAM selector was for discrete chips, the recent progress makes it also suitable for future embedded applications, such as edge AI and automotive, Hanoch said.

https://www.eenewseurope.com/en/weebit-looks-forward-to-first-revenue-in-2023/

The following is a well written article explaining how WeebitNano ReRAM is a far superior technology to FLASH. It’s only a 2 minute read and does not get technical.

Non-volatile memory considerations for data logging

In addition to explaining the critical aspects of ReRAM NVM well, ( as compared to FLASH—ReRAM is faster, cheaper, more resilient to heat and radiation, uses less power, operates at much lower voltage, less susceptible to cyber attack, lasts longer, can be embedded in sub 40 nm architecture etc.) the article touches on a point that I feel is the crux to why FLASH simply can’t compete in longevity with ReRAM and simply must be replaced by it in ALL applications that read and write data frequently. Aside from the fact that ReRAM has at least orders of magnitude improvements in read/write cycles (the number of times you can read and write data to it) FLASH suffers the problem of requiring a “page erase cycle” before programming a new page. That means, even when writing a single bit, an entire page of bytes is taken through one of their precious write cycles.

And this is why Weebit’s selector is so important.

Here’s some supporting technical data I found on the internet regarding the page erase cycle required by FLASH.

1 instruction = 3 bytes = 2 addresses

erase page = 1024 instructions = 3072 bytes = 2048 addresses

write page = 64 instructions = 192 bytes = 128 addresses

Even to the layperson, that appears to be a hell of a lot of wasted effort (and energy), just to write a piece of data.r

The above is from a reasonably old answer (2016) on the Microchip forum but I figure FLASH is an old technology and hasn’t been improved much.

This 2021 article from Silicon labs suggests flash pages can be anywhere from 512 bytes to 4096 bytes, in their particular module. So clearly, things haven’t changed much.

Reading and writing FLASH is actually far more complicated, as discussed briefly in Wikki. The world is full,of workarounds, both in code and in hardware, and simply MUST be looking for a viable replacement—bring on ReRAM

Weebit back toTrading

Weebit Nano Ltd (ASX: WBT) – Reinstatement to Quotation

Description

The suspension of trading in the securities of Weebit Nano Ltd (‘WBT’) will be lifted immediately following <the

release by WBT of an announcement regarding the granting of its application to the Supreme Court of New

South Wales in relation to omitting to lodge a cleansing notice within the prescribed period under the

Corporations Act after the issue of shares on 21 and 22 December 2022

The mother of all Trading Halts!!! Anyone find out what's going on???????

Coby Hanoch posted on LinkedIn about ASX Investor’s take on Weebit. It’s well worth a watch.

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

What an unfortunate day to call a trading halt after Weebit traded at $4USD ($5.62AUD equivalent) on the OTC market overnight.

Let’s hope this oversight of not creating the appropriate cleansing notice gets dealt with quickly and in Weebit’s favour. I was enjoying the ride!

Weebit did release two associated “Application for quotation of securities” notices on the 21st and 22nd of a December, so it doesn‘t seem like they were trying to hide anything.

Announcements coming thick and fast today, here's one more.

Coby Hanoch said, Weebit Nano 's progress in the first half of the financial year means we are well-placed to productise our embedded ReRAM technology and secure first revenues in 2023.

https://investors.weebit-nano.com/site/pdf/6fb7dbf0-ea52-4df4-9431-6af94cc7d9bd/Weebit-Nano-Q2-FY23-Activities-Report-and-Appendix-4C.pdf

Article on Weebit taping out it’s 22nm FD-SOI chip published in the Wall Street Journal.

It’s mostly the same article as before, but now with all the exposure the Wall Street Journal offers.

The word is getting out, and soon, the world will have to take notice.

Here’s a small extract:

”Weebit Nano tapes-out first 22nm demo chip

Jan. 2, 2023 5:29 pm ET

Weebit Nano tapes-out first 22nm demo chip 

Weebit ReRAM in 22nm FD-SOI process provides cost-effective, reliable embedded NVM for IoT, edge AI and other ultra-low power applications 

HOD HASHARON, Israel, Jan. 02, 2023 (GLOBE NEWSWIRE) -- Weebit Nano Limited (ASX:WBT), a leading developer of next-generation memory technologies for the global semiconductor industry, has taped-out (released to manufacturing) demonstration chips integrating its embedded Resistive Random-Access Memory (ReRAM) module in an advanced 22nm FD-SOI (fully depleted silicon on insulator) process technology. This is the first tape-out of Weebit ReRAM in 22nm, one of the industry's most common process nodes, and a geometry where embedded flash is not viable. 

Weebit worked with its development partners CEA-Leti and CEA-List to successfully scale its ReRAM technology down to 22nm. The teams designed a full IP memory module that integrates a multi-megabit ReRAM block targeting the 22nm FD-SOI process which is designed to deliver outstanding performance for connected and ultra-low power applications such as IoT and edge AI. 

As embedded flash is unable to scale below 28nm, new non-volatile memory (NVM) technology is needed for smaller process geometries. Weebit ReRAM in 22nm FD-SOI offers a low-power, cost-effective embedded NVM solution which can withstand harsh environmental conditions.”

Yet another blow by Weebit ReRAM proving superiority over flash.

Weebit Nano tapes-out first 22nm demo chip

Weebit ReRAM in 22nm FD-SOI process provides cost-effective, reliable embedded NVM for IoT, edge AI and other ultra-low power applications

Weebit Nano Limited (ASX:WBT, Weebit or the Company), a leading developer of next-generation memory technologies for the global semiconductor industry, has taped-out (released to manufacturing) demonstration chips integrating its embedded Resistive Random-Access Memory (ReRAM) module in an advanced 22nm FD-SOI (fully depleted silicon on insulator) process technology.

This is the first tape-out of Weebit ReRAM in 22nm, one of the industry’s most common process nodes, and a geometry where embedded flash is not viable.

Weebit worked with its development partners CEA-Leti and CEA-List to successfully scale its ReRAM technology down to 22nm. The teams designed a full IP memory module that integrates a multi-megabit ReRAM block targeting the 22nm FD-SOI process which is designed to deliver outstanding performance for connected and ultra-low power applications such as IoT and edge AI.

As embedded flash is unable to scale below 28nm, new non-volatile memory (NVM) technology is needed for smaller process geometries. Weebit ReRAM in 22nm FD-SOI offers a low-power, cost-effective embedded NVM solution that can withstand harsh environmental conditions.

Coby Hanoch, CEO of Weebit Nano, said: “We’re delighted to have taped-out on schedule our first demo chip in 22nm. We are continuing to accelerate Weebit’s path towards more advanced geometries to meet a clear market need in applications such as microcontrollers, IoT, 5G, edge AI and automotive. Embedded NVM is a key element of such designs, but since embedded flash is difficult to scale below 28nm, many companies are looking to emerging technologies like ReRAM. There is increased interest from companies looking to use our ReRAM to create exciting new products in these areas.”

Olivier Faynot, Head of Silicon Component Division, CEA-Leti, said: “FD-SOI technology provides high performance with low voltages and low leakage to enable devices to operate at higher frequencies with better energy efficiency. It also enables easier integration of additional features such as connectivity and security. With Weebit ReRAM available on this process, the industry will have a highly efficient and robust NVM option for their future product innovations.”

Weebit’s embedded ReRAM module includes an 8Mb ReRAM array, control logic, decoders, IOs (Input/Output communication elements) and error correcting code (ECC). It is designed with unique patent-pending analog and digital circuitry running smart algorithms that significantly enhance the memory array’s technical parameters. Among other benefits, Weebit’s ReRAM technology excels in harsh environmental conditions including high temperatures, radiation and electro-magnetic fields, making it ideal for applications such as IoT, medical, automotive and industrial.

The demo chips comprise a full sub-system for embedded applications, including the Weebit ReRAM module, a RISC-V microcontroller (MCU), system interfaces, memories and peripherals.

Positive New Years message from Coby Hanoch. I love the bit about signing up at least one tier-1 fab expected to sign up and customers asking foundries for ReRAM.

Bring on 2023!

”2022 is almost over - what an amazing year this was for Weebit Nano Ltd! A year ago when I presented ReRAM to potential partners and customers the reaction was normally “great technology… but it is a future technology...”. Today nobody says that! 

During the past year we qualified our wafers and demonstrated the technology is strong and ready for mass production. We transferred our technology to our partners at SkyWater Technology Foundry, received the wafers manufactured there, and are now qualifying them. Customers are now calling on the big foundries and asking for ReRAM, and several of the top foundries are already evaluating our technology. And we will very soon be taping out the 22nm FD-SOI demo chip.

These are very exciting times for Weebit, and 2023 is shaping up to be even more exciting than 2022! We expect to sign up at least 1 tier-1 fab, sign up customers, and continue improving the technology, qualifying at more extreme levels and on more platforms.”

The following is a good read, it discusses FRAM, ReRAM and MRAM, talking of the advantages of each and where they can be used. It paints WeebitNano ReRAM in a positive light.

https://www.eetimes.com/low-power-apps-foundries-eye-emerging-memories

Some excerpts follow:

Earlier this year, Weebit Nano demoed how it has integrated its initial ReRAM module into a complete subsystem including a RISC-V MCU, system interfaces, static random-access memory, and peripherals. (Source: Weebit Nano)

Weebit’s embedded ReRAM module has been delivered to the company from SkyWater’s U.S. production fab, demonstrating that its ReRAM can be manufactured with standard tools and a mature process flow. (Source: Weebit Nano)

Like Infineon’s FRAM, Weebit’s ReRAM is industrial-grade, making it useful for harsh environments, including automotive and aerospace, especially where flash can’t handle radiation, said Briman. “We’re very robust with radiation; we are very robust with high temperature.”

Other applications for ReRAM noted by the Coughlin/Handy report include artificial intelligence. Along with PCM, it’s well suited for storing linear weighting configurations in an architecture commonly known as neural networks, a very simplified type of inference engine that can perform an enormous amount of math at low precision in a very short time.

Weebit’s VP of Marketing and Business Development Eran Briman will present how #ReRAM IP can differentiate your next design at IP-SOC 2022. It is fantastic to see them rubbing shoulders with the right people and getting their message out to the world.

This conference is in Grenoble France so the Weebit presentation will be at 8:25 pm Dec 1 AEDST.

IP-SoC 2022 will be the 25^th edition of the working conference fully dedicated to IP (Silicon Intellectual Property) and IP based electronic systems. Seems a perfect fit for Weebit!

The event is the annual opportunity for IP providers and IP consumers to share information about technology trends, innovative IP SoC products, Breaking IP/SoC News, Market evolution and more.

The Grenoble event is a special event as it is also the annual IP Think Tank meeting where high level executives, market analyzer and technical experts in all the design track from Foundry, technology, design methodology, EDA tools share their vision about the future of the IP concept. It will be the right time to analyze the fast evolution and consolidation in the IP market and IP business.

The recording of Coby Hanoch talking at TechOps 2022 (2-3 Nov) has now been published

https://www.youtube.com/watch?v=P3VceIUNppA

Here’s a report from Pitt Street Research that values Weebit at $4.75 per share-nice and close to my own $4.72 valuation. The report is quite thorough, at 19 pages long.

$4.75 will be cheap when qualification of the latest wafers, from SkyWater, completes and Weebit goes into full scale production (expected mid 2023).

And look, this report even talks about one of my other pet companies Brainchip. Maybe that seed I planted, and effort I spent getting Coby Hanoch and Tony Dawe, to talk about marrying their two technologies may one day come to fruition. ReRam and Akida living side by side on the same chip. Now that would be grand.

WBT research report_101122.pdf

What a HUGE achievement. Well done team WeebitNano. Commercialisation is just around the corner now.

Weebit Nano Limited (ASX:WBT) and SkyWater Technology (NASDAQ: SKYT) jointly announced today that the first silicon wafers integrating Weebit’s embedded Resistive Random-Access Memory (ReRAM) module have been delivered to Weebit from SkyWater’s U.S. production fab.

This is a major milestone toward commercialisation of Weebit ReRAM at SkyWater, and lays the groundwork for customers to confidently design innovative and highly differentiated SoCs.

Coby Hanoch, CEO of Weebit Nano, said: “This is the first time we’ve received ReRAM wafers from a production fab – a huge milestone towards commercialisation that has been achieved on-time through our close partnership with SkyWater. This increases the confidence of potential customers in our IP, pushing forward companies interested in engaging with us, and we’re seeing discussions with potential customers ramping up as we get closer to production…”

SkyWater Chief Revenue Officer, Mark Litecky, said: “… Weebit ReRAM is an exciting new NVM that customers across a broad array of markets can incorporate into their SoCs to achieve differentiation. We already see strong interest for the technology for applications including IoT, power management and mixed-signal ICs…”

Weebit Nano Successfully Qualifies it's ReRam Module

Another tick on the road to commercialisation for WBT.

Weebit Nano CEO Coby Hanoch will share company updates and industry insights in a fireside chat at TechOpps 2022, produced by Automic Group – join virtually or in-person in Melbourne – https://lnkd.in/dBRfXuyp 

Learn more about #ReRAM #semiconductors #NVM #RRAM#ProductionReady #TimeforReRAM

Coby is talking at the end of Day 1

What absolutely brilliant exposure for Weebit Nano.

SkyWater Technology Foundry now have a page about Weebit Nano Ltd and their ReRAM on their web site so all SkyWater customers can learn about Weebit Nano’s offering. The sales teams are working together to approach SkyWater customers and offer them Weebit's ReRAM.

IP Partner Weebit Nano

And the associated press release

Weebit and SkyWater Announce Agreement to Take ReRAM Technology to Volume Production

“Weebit Nano Limited (ASX: WBT), a leading developer of next-generation memory technologies for the global semiconductor industry, and SkyWater Technology(NASDAQ: SKYT), the trusted technology realization partner, announced an agreement to take Weebit’s innovative Resistive RAM (ReRAM) technology to volume production. In addition, SkyWater has licensed the technology for use with customer designs”

. . .

”Commercialization of ReRAM technology will provide enhancements to a range of new electronics in industries such as automotive which require high-temperature performance. Weebit’s ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing embedded Flash memory solutions.”

The following is from the SkyWater IP Partner Page

A huge announcement from WeebitNano today.

Weebit Nano advances its ReRAM selector development to support embedded and discrete applications.

This is absolutely huge and opens the door for system on chip (SOC) development including ReRAM. Yet another achievement that cannot be achieved with FLASH.

And of potentially overlooked importance is that this selector works on individual bytes of data, as well as consuming basically no power. A huge advantage over discrete FLASH which does extremely wasteful block-wise writing.

This is particularly important when combined with knowledge that this can all be build on CMOS technology, using back-end-processing, and at 28nm and less.

Weebit’s ReRAM will soon be ubiquitous.

Here’s an interesting article talking of the future of ReRAM. Well worth the read IMHO.

Spoiler: it thinks it is a grand future.

The article states that PMIC will be the first cab off the rank. That marries nicely with my previous WeebitNano straw where I talk about using ReRAM in PMIC—very interesting.

The future of memory—the time for reram

“The limitations of flash are increasingly clear, especially the fact that it’s just not economically feasible to embed flash memories into SoCs beyond 28nm for most applications”

“The technology that offers the best balance is ReRAM, which is emerging as a leading candidate to replace flash memory for a broad range of applications.”

To me, it seems that WeebitNano is entering the market at EXACTLY the right time. 

“ReRAM technologies will start to enter the market in the next 12 months. This technology is an ideal NVM for a broad range of applications”

As soon as testing has completed, and commercial production started, there should be a plethora of industries eager to take Weebit’s ReRAM on board. WeebitNano ReRAM testing is scheduled to finish before the end of 2022. And the tape out for commercial runs has already been done! Just need the fabs to produce them.

The following article explores an interesting use case for WeebitNano ReRAM

The power of ReRAM to PMIC

If nothing else it will introduce you to an acronym that is increasing in importance (PMIC).

”According to a 2021 report from Yole, the PMIC market will grow to more than US$25.6 billion by 2026”

As well as explaining how to pronounce it—so you can impress people with your knowledge.

The article gives a brief, but educational, look into the history of PMICs and explains the advantages of using ReRAM. One huge advantage is the ability of ReRAM to run in high temperature environments as most PMIcs operate in 150 °C temperatures.

WeebitNano’s ReRAM, being a back-end-of-line (BEOL) integration technology, aids the production of the more complex PMICs that require a system-on-a-chip (SOC) implementation.

The following report contains a decent in-depth analysis of WeebitNano’s ReRAM technology, as well as a quick look at the history of memory and several other memory technologies. It alludes to the demise of standard FLASH and it’s seemingly inevitable replacement by ReRAM. It culminates with a buy recommendation and an indicative 50% share price appreciation for WeebitNano in the next 12-18 months.

https://www.weebit-nano.com/wp-content/uploads/2022/09/Weebit-SEP-22_Gilder-Report-Flash-Flood-Coming-Non-volatile-Memory-Technology-RRAM.pdf

In this 29 June Stocks down under interview with Coby Hanoch, there are some VERY revealing statements made regarding interest in ReRAM and commercialisation.

Spoiler Alert:

• Some fabs have lost major contracts due to not having ReRAM technology available - their customers have been asking for it.
• Mass production could be within the year,

https://stocksdownunder.com/video/weebit-nano-asxwbt-achieves-next-milestone/

The latest issue of ReRAM insights is out.

ReRAM Insights Q2 2022

This is a great one-stop shop for info on what has been happening with Weebit in the last quarter.

I look forward to what happens in the next quarter as the tape-out of demo chips to SkyWater is a prelude to “characterization and qualification – the next steps toward commercialization.”

Weebit out with the results of some testing, and it's impressive.

Weebit ReRAM Results: High Temperature Stability at 28nm

From the article: "Our results show that Weebit ReRAM in 28nm achieves a low raw bit error rate (BER) without any need for error correcting code (ECC) or redundancy. Specifically, we show the ability of Weebit ReRAM to maintain a stable memory window after 15 hours’ bake at 210°C after 10,000 cycles. To the best of our knowledge, this is one of the best results ever reported for any company’s ReRAM."

Or if you want to read the referenced paper directly (it's only 4 pages long and has lots of pictures)

High temperature stability embeddedPaper: ReRAM for 2x nm node and beyond

Not only is ReRAM proving to be far superior to FLASH in every conceivable way, Weebit have now optimized their ReRAM to be superior to other forms of ReRAM.

Some VERY interesting comments in an interview today (7th of June, 2022) between Ross Miller, VP strategic marketing & business unit at SkyWater, and Eran Briman, Weebit Nano’s VP of marketing and business development.

ReRAM NVM – Coming Soon for your Embedded Design​

Here are some appetite whetting excerpts:

Ross: Aerospace and defense applications are among the most demanding, requiring extremely high levels of precision and accuracy. ICs for aerospace and defense also have unique requirements for robustness and reliability in harsh environmental conditions. Since these products must often last for years – mostly without maintenance – longevity is another key trait.

Eran: Weebit ReRAM provides excellent endurance and retention even at high temperatures, retaining data for up to 20 years at 175 degrees Celsius. It can also withstand 350x more ionizing radiation than flash. If you’re designing a product today with flash, it’s going to require extra design for redundancy or shielding, and this isn’t needed with ReRAM. Our technology also has advantages over other emerging NVMs like MRAM such as cost, access time and immunity to electromagnetic fields.

Ross: ReRAM fits with SkyWater’s vision for the future as we look toward technologies that will enable differentiation and advanced performance the market demands.

…

Because ReRAM is a back-end-of-line, or BEOL technology, it can be integrated at various points in the fabrication process.

Weebit Nano out with an interesting tweet promoting their technology. If it truly IS this superior, in EVERY way, to FLASH, then it MUST eventually become the industry standard. And I for one fail to see a future without ReRAM in it. It seems to solve so many problems, and that’s the kind of technology I prefer to invest in.

It even is more secure. A point I believe Weebit Nano should be marketing far more.

https://www.weebit-nano.com/technology/reram-advantages/

I've been following WBT for at least two years , and in interim decided not to invest in my r/l portfolio for the following reasons :

1) The actual commercialisation of ReRAM might take much longer than expected even if technology roadmap milestones are achieved . It might take 2-3 years for OEMs to test and to embed this technology into the final products . WBT claims that ReRam can be manufactured on the existing tools , though processes still needs to be changed ( process recipes and steps ). Foundries are at the full capacity at the moment , and implementation of the new processes goes much faster when there is an overcapacity in the semi market . As an example, Intel invests $90 billion globally in the new FABs and R&D . The problem is that FABs will be up in running in a range of 3-5 years in the best case .

https://www.channelfutures.com/emea/intel-plans-88-billion-investment-in-eu-semiconductor-rd-manufacturing#:~:text=Intel%20has%20unveiled%20the%20first,investment%20of%20nearly%20%2419%20billion.

2) I am an alumnus of the semiconductor industry , and I find a bit odd that WBT was listed on ASX knowing that Israel is a semi R&D and manufacturing powerhouse . I've asked Coby Hanoch why it was a backdoor listing in the country that virtually doesn't have any semi industry , and the question remained unanswered .

3) The company's business model is based on licensing . I have attended the investor's seminar , and Dedi was talking mainly about the market size and future potential . It is unclear to me what would be the actual cashflow given it takes 3-5 years ( in the best case ) to be embedded into the mainstream products :

https://www.weebit-nano.com/the-market/applications/

Semiconductor industry works on the concept of " let another guy try it - I'll use it if it works " . Marketing and sales are always slow and long cycle .

4) Remuneration package of executives .

I'm personally familiar with Dedi Perlmutter from my Intel days , the guy is a multimillionaire .

Coby Hanoch's annual package in 2021 was $1.68 million . It appears that 50% of company's expenses are going to executives' salaries :

https://www.weebit-nano.com/wp-content/uploads/2021/08/Weebit-Nano_ReRAM-RRAM-Memory_Preliminary-Financial-Report-for-the-year-ended-30-June-2021.pdf

The question I ask myself - is this a nice retirement side kick for the executives ?

All the above-mentioned points bring me to the conclusion that this is not the right time to invest in WBT .

WeebitNano this morning announcing the successful testing of their demo ReRAM chips.

https://www.asx.com.au/asxpdf/20220406/pdf/457r40p4yd61km.pdf

I found the use of a RISC-V microcontroller to perform this testing, to be of great interest in this announcement.

At the recent Strawman/Brainchip webinar I suggested to Tony and Sean (from Brainchip) that they should consider WeebitNano's ReRAM technology. And now, following last night's Brainchip press release regarding a new partnership with SiFive to deploy AI/ML technology at the edge, somewhat of a marriage of RISC-V with Akida. There seem to be a few dots lining up.

So Brainchip in partnership with SiFive to work with RISC-V, and ReRAM proven to work with RISC-V. This all adds strength to my suggestion to Tony and Sean, especially considering WeebitNano’s ReRAM is now working at 22nm with plans to further reduce.

ReRAM does not have the 40nm limitation of flash memory. So it should be able to create solutions on a chip that contain all three technologies.

I truly hope they do go down this path. It will be a VERY GOOD path.

I have already corresponded with Tony Dawe regarding this WeebitNano progress.

This slide, from the Goldman Sachs Presentation, really says it all.

One day the world will have to sit up and take notice of the advantages ReRAM has.

@Saiton, it is not WeebitNano doing the comparison, it is Pitt Street research doing it. So not quite one company giving a free pump to another.

Pitt Street Research recently released a report on BrainChip, so are in a good position to do the comparison. And hey, they are continuing to push BrainChip’s message, i.e. their recent research report, so all good on that front too.

Where both companies will be in 5 or 10 years is anyone’s guess. But with words like “ubiquitous” being thrown about, they can each be huge. I even see a future that marries Akida and ReRAM, it is such a great, and to me obvious, fit. Then throw in Strategic Elements’ self-charging, printable, battery, and you have the most pure edge device without the need for any connections to the outside world, not even for recharge.

BTW: BrainChip and WeebitNano absolutely are not in competition with each other. They do completely different things, but things that can supplement each other so very well.

DISC: I do hold shares in both BrainChip and WeebitNano, as well as having an each way bet in the ReRAM field by also holding shares in 4DS. The ReRAM technology employed by 4DS is different in that it can also store power and act as a battery. But it is quite a way behind in development from WeebitNano after suffering a major setback at the end of 2021.

Frost & Sullivan have produced a very informative, and purportedly independent, report on Weebit Nano. Well worth the read IMHO. It packs a lot of info in it’s 13 pages, not the typical ‘baffle them with bullshit and hide the details in a sea of words’ approach. This report is written to be easy to read.

https://www.weebit-nano.com/wp-content/uploads/2022/03/220309.Frost-Sullivan_Weebit-Nano-Update-Report_RRAM_March-2022.pdf

In this report they ascribe a valuation of $3.90 to Weebit Nano.

Achieving volume production abilities in 2022 should help embed this technology. (Pun intended)

Flash memory was good, but IMHO it’s time is now up and it’s time to step aside and let the transition to the next technology begin. ReRAM’s superior scalability, superior retention, cost effective production, and improved energy efficiency should be sufficient to seal the deal.

A very interesting comment is : “The company has underlined 2023 as the milestone year for its ReRAM technology to be embedded in a full-fledged product, with 2022 focusing on quality improvements and volume production.”

The report summarised opportunities very succinctly as:

”Weebit's Opportunities

• As a crucial element of edge AI chips, memory must have a small geometry while storing more data; ReRAM represents an ideal answer to this challenge, especially given its low-power consumption nature.
• Weebit’s ReRAM offers a perfect memory alternative in SoCs as, unlike flash, it can scale to fit smaller geometries.
• IoT represents an excellent market opportunity for Weebit's ReRAM. IoT and other connected devices can be embedded with ReRAM because of its low power consumption and 10-year retention, even at high temperatures, which is a requirement for IoT field deployment.
• Various components of the wireless communication infrastructure of 5G, such as 5G chipsets, can use ReRAM as their embedded memory.
• Weebit's cost-effective back end of line (BEOL) solution, requiring only two added masks and no special fab equipment, is a good target for many cost-sensitive analog integrated circuits for smartphones, consumer electronics, industrial applications, and more.”

Q1 ReRAM Insights is out now. This seems to be a good starting place for a little dive ito the world of ReRAM and specifically how Weebit is progressing with it.

So Coby Hanoch (CEO of Weebit) starts this with “2022 will be a pivotal year for Weebit”. And “We’ve got all-hands on deck to achieve success in 2022, and we are moving quickly toward our goals.”

Now that should be sweet music to the ears of holders and even non-holders thinking of jumping on board.

It seems Weebit are using to shrink their technology beyond 28nM. That would be yet another advantage over flash memory.

And there is an interesting development that implies ReRAM may have some synergy with neural Networks. Could we see some collaboration with BrainChip? It is a thought I have had for a while.

Then just bring Strategic Element’s printable, self charging battery into the mix and you have the perfect edge based AI solution. One that will run for ever without needing any outside interaction other than the input stimulus that is to be controlled/monitored/whatever!

Not even going to look at the numbers (it’s a big fat cash burn hole), rather, if you look at my previous straws this is a story of belief they can get there.

The update is full of positive messaging, successful testing, and new patents to protect their IP.

More importantly though they are edging closer to commercialisation. Or so the story goes. I’m still in the band of believing the story and will continue to hold. 

Weebit Nano receives first silicon demonstration wafers integrating its embedded ReRAM module

22 December 2021 Weebit Nano Limited (ASX:WBT; Weebit or the Company), a leading developer of next-generation memory technologies for the global semiconductor industry, is pleased to announce that it has received from manufacturing the first silicon wafers that integrate its embedded Resistive RandomAccess Memory (ReRAM) module inside complete subsystem demonstration (demo) chips. These highly integrated chips will be used for testing and characterisation, as well as for demonstration to potential customers. Importantly, the demo chips will allow customers to run applications to test Weebit’s ReRAM technology ahead of potential commercial orders and volume production for their specific chips. Weebit worked with its development partner CEA-Leti to successfully manufacture the demo wafers. The wafers will now be sliced into chips, packaged, and then tested, characterised and qualified. Chips based on this design will be used for the qualification process in SkyWater Technology’s US production fab. The transfer of Weebit’s embedded ReRAM technology to SkyWater Technology’s production fab is progressing on schedule.

This announced on Weebit website but not on ASX

https://www.weebit-nano.com/press/

211222.Weebit-Nano-receives-first-silicon-demonstration-wafers-integrating-its-embedded-ReRAM-module-002.pdf

This could be interesting.

Can Weebit’s ReRAM be shown to be greener than alternatives. That will, be yet another feather in Weebit Nano’s hat.

Weebit Nano and CEA-Leti undertake environmental initiative

Life Cycle Assessment to analyse Weebit’s ReRAM carbon footprint compared to other Non-Volatile Memory technologies.

As announced on 10 November 2021, Weebit Nano Ltd (WBT or Company) is inviting eligible shareholders to participate in a non-renounceable pro-rata entitlement offer (Entitlement Offer) of new fully paid ordinary shares in WBT (New Shares) at an issue price of A$2.84 per share to raise approximately A$9 million.

Under the Entitlement Offer, the Company will offer New Shares to eligible shareholders on the basis of 1 New Share for every 41 shares held at 7.00pm (AEST) on 15 November 2021 (Record Date).

Shareholders who are eligible to participate in the Entitlement Offer may also apply for New Shares in excess of their entitlement under the Entitlement Offer which may be satisfied out of any shortfall from the Entitlement Offer.

The Entitlement Offer is expected to close at 5.00pm (AEDT) on Monday, 29 November 2021

This follows the successful share placement announced on 10 November 2021 where the Company raised approximately $25.2 million from 4 Israel-based institutional investment and pension funds and directors and received binding commitments from certain Directors for approximately a further $300,000 (Placement) (the Placement and Entitlement Offer are together the Offer).

The cornerstone investor for the Placement was Meitav Dash. Managing over US$65 billion in assets, Meitav Dash is a major institutional investment and pension fund in Israel, operating for over 40 years with approximately 1,000 employees

Further to @Rapstar's points ( a brilliant valuation in my opinion ) , I'd like to add :

1) The backdoor IPO in ASX is understandable , but why not in Israel ? The country is a semiconductor powerhouse : https://www.calcalistech.com/ctech/articles/0,7340,L-3841999,00.html

2) I've started my career in a semiconductor industry , and I came across Dedi Perlmutter on a few occassions . This guy is a multi millionaire , and a well connected person in a venture capital ecosystem . I've checked the main shareholders , and there are no venture capital funds/big names involved : https://www.marketscreener.com/quote/stock/WEEBIT-NANO-LIMITED-54842489/company/

This is a big red flag from my perspective . 

3) My gut feeling says to stay away. It looks like a lifestyle sidekick for the board and the company management - unless some tangible results / revenue is generated  . 

Weebit demonstrates successful scaling of its ReRam technology to 28nm

Another piece of the WBT puzzel is in place. This annoucement might not sound like a big deal but this will allow for significant increase in use cases for their technology (ReRAM technology on smaller geometries).

WBT (& BRN) is thrown out by many investors for it's lack of revenue & being a "story stock". The WBT technology is top of class & are well on their way to commercialisation. Definitely still a high risk play but over the past 12 months the business has been significantly derisked. Looking forward to watching this playout over the years to come.

Weebit Nano Ltd (WBT – Weebit) is a developer of next-generation semiconductor memory technology. Founded in Israel in 2015, the company develops Resistive Random-Access Memory (ReRAM) technologies which is a specialised form of non-volatile memory (NVM) for the semiconductor industry.

Investment thesis – Weebit is a leading disrupter in next-generation semiconductor memory solutions, with the company’s recent commercial deal validating its ReRAM technology. Other things I like:

• Industry tailwinds – applications such as IOT devices, smartphones, autonomous vehicles, artificial intelligence etc have ever-increasing storage requirements. Flash memory, the incumbent, cannot continue to scale due to cost, scalability and complexity limitations which make it more difficult to embed within next-generation chips. The next generation of memory technologies should address limitations in present storage, delivering data where it’s needed for real-time processing. Cost and power consumption are both important factors here.
• So, why ReRAM? What makes Weebit’s memory technology innovative?
  • It is highly scalable and offers multiple commercial and technical challenges over alternative technologies. 
  • It can be quickly and easily integrated with existing standard manufacturing flows and processes – consequently is it much cheaper when compared to alternative NVM technologies.
  • It is also proven to be significantly faster and more reliable and energy-efficient than existing Flash memory solutions.
• Recent commercialisation validates technology: Weebit recently announced its first commercial deal with SkyWater technology (NASDAQ: SKYT; US$1.3 billion MC). This provides commercial validation of Weebit’s ReRAM technology and commences the growth trajectory for the company’s technology onto customer chips. Volume production is anticipated by the end of CY2022. Weebit will receive licence fees and royalties as part of the deal. I anticipate (and hope) this recent deal will be the first of many. 
• Competent and skilled management team with a great track record. In particular the company’s Chairman, David Perlmutter, is the ex-Chief Product Officer of Intel Corp. The chairman is crucial for the company’s success – with his experience and connections in the industry likely to provide the company with additional competitive advantages on top of its innovative ReRAM technology.
• Cash holdings at 21million, with no debt. Well placed to continue its growth trajectory into FY22. 

Commercialisation strategy

Weebit’s technology can be used in both embedded memory and discrete (stand-alone) memory chips. The company is focusing on embedded memory in the short term – providing semiconductor companies like SkyWater with innovate solutions by embedding Weebit IP onto their chips.

Long term, Weebit’s goal is to expand beyond embedded applications into the much bigger market for discrete devices. Current discrete NVM encompasses NOR flash (which is broadly used for on-device code storage in consumer, automotive and industrial applications) and NAND flash (widely used for device and cloud storage).

Conclusion

In my opinion, Weebit has become less speculative with the recent commercialisation of its ReRAM technology. In the disruptive technology space, the first agreement is the most difficult (and important). I think this agreement makes the risk/reward element much more attractive. Consequently, I am more comfortable with it having a larger weighting in my portfolio – I am backing in a well-regarded management team and their ability to (continue to) achieve significant milestones through additional/future commercial deals. That said, there are still many risks that I need to be aware of going forward: 

Risks/to monitor

• My thesis is based on Weebit being a market-leading disrupter in memory technology. It needs to lead the way with respect to cost, performance, scalability, and reliability. Another company producing superior technology – and then commercialising – will result in my thesis being busted and I will sell immediately.
• The company’s recent annual report indicates it was in discussion with multiple companies re: commercialisation of its ReRAM technology. SkyWater represents the first – hopefully of many. Ideally, the company will slowly start to announce additional partnerships over the next 12-24 months. This will continue to see its technology validated.
• Monitor the commercialisation of Weebit technology within SkyWater, which should provide the company with competitive advantages. It is important that this transition is a smooth one – success here will almost certainly result in other customers seeking out Weebit’s technology.
  • In addition, how much will Weebit stand to make from its partnership with SkyWater? This will provide an indication of what we can expect from additional agreements etc. There aren’t a lot of details re: this yet.
• Losses in the year (11m) were more than double FY20 losses (4m). This is OK, particularly noting the progress the company made, but it’s not sustainable long term. Share dilution is particularly concerning, increasing twofold in FY21. With the recent partnership announcement and hopefully several more to follow in the coming months, FY22 should hopefully result in reduced levels of dilution and loss.

DISC: I am slowly starting to accumulate IRL and on Strawman – noting that my first entry point was $2.80. I think WBT represents great value between $2-$3.50 and I will continue to accumulate slowly at these levels. I am investing with a long-term horizon in mind here, provided the company continues to perform well. Well done to long term holders much before my time that have enjoyed phenomenal returns in the last few years.

A great lift on the news of a collaboration with Skywater. In the Zoom call Coby Hanoch (CEO) played down the chances of other collaborations happening because they wished to get the 130 chip well sorted with Skywater before racing into another partnership but I note in the Ausbiz interview he confirmed that we're actively seeking further collaborations and we're currently talking with others.

it would be naive to think they weren't entertaining other partnerships in order to speed up the qualification of the 130 chip. After all why should the progress of Weebit be governed by another company, just doesn't make sense. In my experience it's advantageous in business to court more than one business relationship at any one time in order to guarantee your own success and to ensure collaborations move ahead at pace.

Also, there was the comment that Europe was a just as big market to US. Why would you restrict your partnerships just to the US? If anything that may not be a wise strategy to limit your relationships to just the US because that invites competitors to form those relationships you have chosen to neglect?

For the above reasons,  I am keen to pick up more of this company once all the current fanfare has subsided and the herd  has moved on and the price settles back a tad.

Because I think they are aggressively  courting further partnerships and when the next partnership which is more likely than a new customer is announced,  l think their will be another lift. 

Weebit have basically confirmed the rumour with the following wording of the voluntary suspension request:

"The Company requests a voluntary suspension as it is not in a position to make an announcement regarding an incomplete negotiation regarding a material customer contract that has ceased to be confidential."

All should be known by next Thursday.

This space seems to have it all--leaks, tweets, sneaks and intrigue. Should be exciting times ahead.
 

I do hope Weebit have landed the "commercial partnership with US semiconductor foundry SkyWater Technology Inc. (NASDAQ: SKYT) to take its innovative ReRAM technology to mass production" that Market Eye have leaked.

I suppose we wil find out the truth real soon. Like hopefully tomorrow.

IMHO ReRAM will explode onto the world and change things for the better.

Refer to latest announcements. WBT have selector originally expected for September now available.

Their strategy is to enter market segment for which they have best technical advantage, viz small volume embedded memory, before moving on to the big $ aspect, of non-volatile static memory before competing with USB flash.

The $3.05 is a  bull price in anticipation of some progress with the first stage in terms of some deal with a partner or fab.

Essentially they have in development silicon-oxide based non-volatile ram storage which can be stacked, and which offers higher speeds. Because it uses familiar fab technology it should be easier to get to production from where it is at now. 

all IMO. DYOR.

Listened to the update call this afternoon - should have waiting to post the earlier straw.

Couple of takeaways:

• These guys are techo’s not business BS’ers.
• My (naïve) idea was they were going to be chip makers. The plan though is for the commercial model to be both a licence and royalty. The tech to be licenced to third-party manufacturers and then a royalty for each of the products that gets sold.
• There is also another revenue stream in NRE, or non-recurrent engineering. The consumers of Weebit tech engage the team to build to their spec for interfaces.
• They claim the delays in getting deals done are due to travel restrictions. I agree, there are times when having a meal and spending time with people is the fastest way to build trust. You cannot do that over a conference call.

 One thing that slightly concerned me was the team were not completely aligned in their answers. Putting that down to them being techo’s.

Let’s start with I hold, and it has been a wild ride. Unfortunately, or fortunately, it is a small holding. Unfortunately, as it 10x not too long ago, fortunately, it then halved. If it were a bigger holding, I would have acted instead of sitting on my hands.

Today’s announcement continues to be positive. They are edging closer to commercialization and there are applications galore. The ability to get into production is being hampered by the global chip shortage. Maybe that includes a little paraphrasing.

If you believe in the story this is a fun place to be. This fanboy is continuing to hold looking for the day production becomes a reality.

If the story does not eventuate, I’ll be back to fortunately.   

23 July 2021

Q4 FY21 Activities Report

Successful selector integration and tape-out of embedded memory module

Key highlights for Q4FY21

• Demonstrated industry’s first commercial integration of OTS selector with oxide-based ReRAM cellfor the discrete memory market
• Advanced negotiations with potential production partners and customers
• Completed final design, verification and tape-out of embedded memory module test chip post-quarter end

I have copied some parts from todays announcement below...

Weebit completes design and tape-out of embedded ReRAM module

Memory module is integrated within a sub-system, enabling customers to fast-track their development and release new products.

14 July, 2021 – Weebit Nano Limited (ASX:WBT), a leading developer of next-generation semiconductor memory technologies, is pleased to announce that it has completed the design and verification stages of its embedded ReRAM module, and taped-out (released to manufacturing) a test-chip that integrates this module. This highly integrated test-chip will be used as the final platform for testing and qualification, ahead of customer production.

Commenting on Weebit’s on-schedule achievement of another key milestone, CEO Coby Hanoch said, “We implemented the module in an intelligent way, developing unique patent-pending analog and digital smart circuitry that significantly enhances the array’s technical parameters including speed, retention, and endurance. The test chip containing this module will allow Weebit to demonstrate to customers a fully functional ReRAM product that can be readily integrated into their System-on-Chip and enable customers to accelerate their design process.”

Weebit expects to have its first silicon of the embedded ReRAM module towards the end of this year. The Company plans to demonstrate the module and report functional testing results in the first quarter of 2022. Qualification of the module is expected by mid-2022.

Explanation of technical terms

• Tape-out: The final phase of the chip design process in which the design is released to manufacturing.
• System-on-Chip: As the size of digital elements shrinks, it is common to put a full system, including processor, communication, memory and other dedicated elements on a single piece of silicon.
• Qualification: The process in which the fab ensures that a design is ready for mass production and complies with its specifications. This includes ensuring that it is stable, operates reliably as designed and meets yield targets and quality standards.

Another great announcment - Weebit are hitting key milestones on their path to disrupting the USD $300B worldwide memory market.

The announcement of the integration of a selector with their ReRAM marks a significant technological milestone for Weebit Nano.

This is 3 months ahead of schedule, and while they are targeting sales in the discrete memory market in 2024, we could see the whole timeline condensed if they continue at this pace.

Their anticipated business model for the discrete market is component sales, as opposed to IP sales with the embedded market.

The initial low hanging fruit in the discrete market is replacing NOR flash, with a market size of over 3B USD currently. However, I expect simultaneous moves into storage class memory, opening up the whole 100B+ market.

With the promise of commercialising their embedded ReRAM within weeks/months from now, and the discrete ReRAM in ~3 years, Weebit Nano are aiming to disrupt the 300B+ USD memory market.

Significantly faster, lower power and higher endurance/longevity; and utilising current fab technology working with SiO2 - they have a good chance of becoming a market leader in a rapidly growing market.

This announcement is ground breaking and will give them a long runway into the future.  As they have been focussed on the embedded aspect of commercialization, as it is more achievable in the short term, they have always known the discreet market is a larger one that would be addressed afterwards.  Well they have achieved this milestone months ahead of schedule, and while this is not the commercial/fab transfer news investors have been waiting for, it is very good news nonetheless. 

Disc.  I am a long term holder of this company who believes they will be a major player in the semiconductor industry in the future.  Their BOD and management team is of the highest quality.

25 June 2021

Weebit Nano successfully demonstrates integration of selector with ReRAM cellfor the stand-alone memory market

* Industry’s first commercial integration of OTS selector with oxide-based ReRAM

* Key technology milestone achieved three months ahead of schedule

25 June, 2021 –Weebit Nano Limited(ASX:WBT), a leading developer of next-generation semiconductor memory technologies, is pleased to announce it has created the industry’s first commercial integration of an oxide-based ReRAM (OxRAM) cell with an ovonic threshold switching(OTS) selector, a critical step in the company’s commercialisation path for the discrete (stand-alone) memory market.

This achievement is a significant step towards broadening Weebit’s target market beyond embedded non-volatile memory (NVM) to include discrete memory technology, and will enable the implementation of 3D memory stacking and crossbar architectures in future developments. Weebit and its development partner CEA-Letiachieved this key milestone three months ahead of Weebit’s previously announced schedule.

A selector is a key element of a memory chip, enabling optimised cell access within a memory array. It assists in isolating memory cells so only the specific cells that should be accessed are, and all the other cells are not impacted. In the embedded space, a transistor is typically used as the selector device, but a transistor does not support the densities required for discrete chips. OTS is an ideal selector technology for discrete ReRAMchips as it enables the smallest ReRAM bit cell, as small as 4F2, as well as excellent endurance, low energy consumption, and high switching speed.

Much like BRN , Weebit Nano (ASX:WBT) finds its self 6 months behind BrainChip. 

Following the recent capital raising, the uncertainty around the company’s funding has been substantially reduced. In turn this has substantially reduced the investment risk for WBT.
 

Additionally, helped by the enlarged financial runway, the company is now in a position to accelerate its various development programs, which increases the chances of WBT being able to address multiple markets in due time. In other words, the chances that the company can actually address the multiple commercial opportunities out there have greatly increase

WBT recently reaffirmed that it expects to be able to sign a commercial deal for the embedded memory module by mid-2021. This would put it around 6 months behind BrainChip when it comes to first commercialisation.

WBT recently raised $15m (before costs) through an institutional placement and a Share Purchase Plan (SPP). Combined with the raise in mid-2020 and assuming a quarterly cash burn of $1.2m, WBT now has a comfortable cash position of around $19m per 1 January 2021.

Following the raise and the fact that there are nearly 44m deep in-the-money options outstanding that can bring in an estimated $20m in funding, the company is de-risked from a funding point of view.

Weebit's report was as expected.  They have never wavered from their program other than accelerating development in associated domains with the additional funds raised over the past few months.   Upcoming announcements over the next six months with prove the potential of this company.

26 February 2021

Key highlights for H1FY21

• Completed technology stabilisation,now ready to transfer to a production fab
• Expanded strategic partnership with Leti to increase development activities across ReRAM technology, embedded memory module and selector for standalone memory market. Development activities are ongoing
• Well-funded to progress development and commercialisation activities following heavily oversubscribed $15 million Placement and Share Purchase Plan
• Strengthenedexecutive team with three key leadership appointments
• Filed five new patents to protect Company’s intellectual property

Targeting first commercial agreement in the embedded market mid-2021.

Targeting the discrete market 2024.

See the slide below from the recent Webinar presentation released on 29/1/21.

The size of the potential markets is what makes WBT such an exciting investment. Still high risk, but the rewards could be a slice of these:

01-Nov-2020:  Just on Coby Hanoch - Mr Hanoch has 15 years experience in engineering & engineering management and 25 years experience in sales management and executive roles. He was Vice President Sales at Verisity prior to its acquisition by Cadence Design Systems. He was also Vice President Sales at Jasper, doubling sales in 3 years before it was acquired by Cadence. As CEO of PacketLight, Coby helped steer the company away from bankruptcy. He set up a consultancy company, EDAcon Partners, which helps startups define their corporate strategies, set up their sales channel and raise capital.

Coby holds 532,672 WBT shares plus another 2,598,571 WBT options. Of their 6-member board, there are 3 other directors who hold more WBT shares than Coby, but he holds more options than anybody else.

He has been the Weebit Nano MD & CEO for just over 3 years and when he first took over, the share price rose from 40 cps to $1.92 in two months, but then got back down to as low as 23 cps in March this year (during the worst of the COVID-19 sell-off). Since the 10th August however, we've seen WBT rise from 30 cps to close at $1.50 on Friday (+400% in under 3 months). Clearly not for the faint-hearted this one!

Andrew (Strawman) interviewed Coby during the past week and the video is posted under the "Competition" tab here on Strawman.com, but be aware that the video containing that interview will likely be replaced within a week, just as the previous one was (which included an interview with AVA CEO and Executive Director Rob Broomfield - and the chat between Andrew and Icarus.  The current video (as of today at least) has the interview with WBT's Coby Hanoch starting at the 18:28 mark. 

The video is just below the leader board containing the "Top 5" players in the Strawman Classic.  The sound default setting is mute "on", so to hear what they're saying you'll need to locate that mute button (looks like a speaker with or without an "x" on it) which is next to the play/pause button in the bottom left corner of the frame, and click it so that the "mute" feature is "off" (i.e. no "x" on the speaker icon). The volume control bar is to the right of the mute button.

A good result with the stabalisation process completed exceeding expectations bringing the level of functional cells to over 99% now closer to commercialisation and in talks with production partners.

I just wanted to shine a light on this companies growth. Amazing! 

Further confirmation with yesterdays announcement that the Leti/WBT collaboration is producing results. WBT has completed this milestone, once again ahead of schedule, consistent with the overdelivering history in milestone announcements.

"WBT successfully completed the first stage of the “stabilisation” process, a key milestone on the path to productisation.

The aim of this phase was to verify that Weebit’s production process is repeatable and consistent, to reduce chances for defects and therefore improve the wafer yield."

RERAM tech is on its way and exciting times with it!

Well, here we go again.  Another capital raising.  I have been following this stock since its listing in 2015 and have been an investor since 2017.  I definitely could/should have waited until they were further ahead in their development and didn't have to suffer through numerous capital raisings, most of them dilutive, while one was consolidating.  I am a patient investor who bought because I love the story (history shows this is not the most viable tactic) and am a firm believer in what their product will achieve and how I will benefit in the future.  It's what my investing thesis entails.  I remain a faithful and will be taking up another allotment, for they have a new product with a huge addressable market in ever expanding fields using semiconductors.  The board of directors is as strong as any listed on the ASX, with a vast weath of knowledge and experience.  They are also current shareholders.  The road from development to revenue is unpredictable, but......their day will come.  Until then, I will to continue following my mantra of patience, patience, patience.  DYOR

This is an addendum to the above.  The capital raise was extremely successful (though once again dilutive), raising 5 fold+ the amount of funds originally planned.  They are now locked and loaded, with 10 million in the bank.  It's now time for the financial side of the business to match the technical one.  With a well connected BOD and a quiver of potential applications running far into the future, the next 9-12 should (will) see the company become the butterfly no one yet sees.  Patience, Patience, Patience. 

Weebit Nano is an Israel-based semiconductor technology company that is developing the next generation of memory technology.  It seeks to offer a quantum leap in memory and data storage that aims to allow faster, more reliable, and more energy efficient memory through  ReRAM technology that has significant speed, power and capacity advantages over flash technology.  It can enter markets that require low power and speed that existing flash technology cannot meet.   There is a need for significantly faster and more energy efficient memory devices for new applications such as machine learning and deep learning systems.  They are at the stage where they are looking for their first major company by the end of this calender year.

 I think this is an interesting high- risk investment.  It’s board is very experienced and highly respected in the field.  Plus they are all large shareholders.  I am a shareholder in this company that requires patience.  Please do your own additional research.

I'd like to update that since the above straw was written, there has been a capital raising, a resigning of contracts with patent licensees and their fabridator.  They've advanced the technology, joined with an Indian tech group to evaluate the techology and added a Chinese tech consultant.  They have continue to reach targets and it will be up to another two years until they see genuine revenue.  I'm all in with them and am still a believer.

Here is my latest update.  The company has made arrangements with several individuals and companies in several countries around the world that will strenghten it's development and marketing.  They are moving ahead on several AI fronts that if and when (and that is a key) their product comes to fruition, and is accepted in the marketplace, will be a very successful company.  Of course this is only the opinion of someone who has been, and will continue to be, a long term shareholder and who fervently believes in the potential of the product and the quality of it BOD and management.  DYOR.

Here's my latest update:  They have reached every milestone and both proved and validated the technology.  They are looking for production and revenue by end of 2020.  This is a company with a bright future in which I believe and have invested accordingly.  DYOR
 

24th October 2019:  WBT – a “Cinderella” semiconductor stock  by David Brennan at State One Stockbroking.

• Share Price:  A$0.37  ($0.385 on 25-Oct-19)
• Target Price:  A$1.40
• Target Upside (from 37c): 278% (or 264% from 38.5c)
• Recommendation: Speculative Buy
• Risk Assessment: Higher 

Let me start by saying, I swallow a good story.  Want to believe.  It’s good vs evil.  A good story has to win.  Make me feel good and make a profit.

Weebit Nano (WBT) came across my eyes in Jan. 2016. It’s a semiconductor technology company developing next generation memory technology.  It has a great sounding story with a potentially huge market,  It has put together a strong team, including it’s chairman, who at the time of his leaving Intel in 2014 was Executive VP and Chief Product Offer.   They’ve constantly met all stated goals.  The key now is finding that first major customer.   Everything else is in place.  (All the above is discerned from several sources.  Much from the company itself which surely contains dosages of propaganda)

The great fears are; the product doesn’t work, more funds need to be raised, they can’t find customers.   These are certainly just some. 

This straw is written to open discussions on an interesting and potentially good company,   Anyone purchasing shares would be buying a speculative company,  They could lose it all.   But if they are interested, they should investigate.  Draw their own conclusions.  Make their own decision.

From a quote I’ve now read twice recently (most recently in a Motley Fool article): To make money in stocks you must have “the vision to see them, the courage to buy them and the patience to hold them.” Patience is the rarest of the three.

Six months later and the story remains pretty much the same.  There have been advances with development, partnerships arranged and capital raised.  Nothing moving the share price.  The story will take another six months to begin playing out, but when and if it does to the degree I expect (realistically, I can't count on expectactions actually happening to the extent I imagine) this company's share price will move, and rapidly. 

I own shares in Weebit Nano and keep adding to my holding.

PMonkey

For a free copy of a broker report on WBT (Weebit Nano) from State One Stockbroking - see here.

That is one of the free broker reports that the ASX sends out links to every Friday afternoon in an email to everyone who subscribes to that service.  To get on that list, click on the link below:

http://www.asx.com.au/prices/asx-research-scheme.htm