Combined with the raise in mid-2020 and assuming a quarterly cash burn of
Following the raise and the fact that there are nearly 44m deep in-the-money options outstanding that can bring in an estimated
The current funding situation should allow WBT to not only accelerate the existing development programs around the embedded memory module and the stand-alone device, it should also allow the company to start making some investments into research around neuromorphic computing architecture. This will open up another avenue of opportunities in due course.
Commercialisation: 6 months behind
ASX-listed
The agreement is for a single use design licence and ongoing royalties based on units sold. In addition, there is an implementation support fee, also known as non-recurring engineering (NRE) fees.
We believe this agreement is quite standard and typical for the semiconductor industry, and any license deal WBT were to make would likely be very similar in nature. WBT recently reaffirmed that it expects to ink its first commercial deal by mid-2021, which would put it around 6 months behind
Valuation of
When valuing WBT we have taken the same approach that we took when valuing
Given the expectation of WBT being able to sign a commercial deal for the embedded ReRAM module by mid-2021, we believe the company should be valued around
Please see page 4 (of the report attached) for an overview of key investment risks.
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