Eucalyptus Capital, page-15

Happy to go through my list of risks:

1. Reram not being adopted in replacing NAND flash. With IBM doing PCM, everspin into STT RAM, and MRAM looked at by other companies, this is always a risk. (Although after a lot of research into the manufacturers and their business mentality, this wasn't an issue for me personally).

2. Another R&D company having a superior product with similar cost per bit metrics. This is probably one of the biggest issues facing this particular tech, as the competition was in front to begin with. Having said that, Leti have made significant strides in a short amount of time and weebit are catching up.

3. The tech not as capable as once thought. This is less of an issue in my opinion as Dr Tour and his team at RICE Uni in Houston had done 8 years of solid research into the material with very promising consistent results before taking it to the next level - being VC funding. On top of that, James (being a synthetic organic chemist, specializing in nanotechnology, he is respected and known in the broad scientific field) would have had to convince the likes of Rami Hadar, Yossi Keret, Amir Regiv, Kobi Ben Shabbat, Ashley Krongold, all with significant achievements, to take a severe pay cut for a long duration in return to make this work. Without success they will get Nothing!

I deliberately separated David Perlmutter as his reputation in the tech world proceeds him. He being worth well over $50 million in Intel shares alone he also is working for nothing unless this succeeds. FYI he used to get paid roughly $15 million p.a. at Intel.

4. Other tech that is ahead of weebit (and some of the competition is BTW) takes storm of the NVM market and manages to take a massive proportion of the market share very quickly. I still feel like this is a less of an issue, as I conservatively price this at 25c to 50c with only a 10% market share anyways. I'm not looking for a new Sandisk, just a nice little 10 bagger with a few dividends in tow.

5. NAND flash is capable of going further than once thought. Very unlikely, as billions in R&D is going into it at the moment and they are already having to do 3d stacking just to increase in storage space. And if like me, you have done research into the viability of 3d stacking NAND flash, you may know that after the 300th layer they face massive read reliability issues due to pure physics. They also had to go back to 40nm to 3d stack as to reduce the issues they had with smaller nm dies.



There could always be other factors in play I don't know about, however all I can do is as much research into all the tech as humanly possible and hope I'm on the right track I guess.

Please Do your own research, I would also love to find out some potential issues with this tech as well. ( I hate the confirmation bias you naturally develop).