State One report, page-5

?

$105m or 6c per share is the risk-adjusted value *today* (ie on the day the report was written)

“Risk-weighted target price: 6cps
Underpinned by an assumed 20-year royalty stream, we calculate WBT’s un- risked equity value at A$157m - equivalent to 9c per fully diluted share (pre- 25:1 share consolidation scheduled for February 2019). Attaching a 33% risk discount – primarily because of technology risk associated with developing the ReRAM product to a commercial stage, and poor visibility on the timing and metrics of any commercial agreement - we calculate WBT’s risk-adjusted equity value at A$105m or 6c per diluted share.”

https://www.stateone.com.au/Download/Download?file=WBT_20190130.pdf&downloadType=PUBLICATIONS

We are much closer to a commercial product than many realise. In one of the videos Coby said the idea was to line up a key industry partner and develop/finalise WBT’s offering alongside them (in consultation with them, meeting their specific needs).

We know that WBT have had partnership discussions with “multiple” parties but is waiting for one to ‘lock it in Eddy’.

Note the goal was to have a key industry partner locked in by Q4, 2018?



https://weebit-nano.com/wp-content/uploads/2018/09/Investor-Presentation-Aug-2018.pdf

A number of things make me think our key industry partner will be Samsung:

https://hotcopper.com.au/threads/ann-q2fy19-activities-update-and-appendix-4c.4614067/page-56?post_id=37298963

On top of this:

We had Jackson Lam appointed in Dec (this wouldn’t have been done so early if we were a long way off a finished product);

We had news that we are consolidating 25:1 suggesting perhaps that a new key partner and/or strategic Chinese investor wants in, in a big way (well done Jackson?); and

We also had a quarterly report arrive on 25 Jan, six days early -I found this curious, as most quarterlies arrive on the final day or the day before, not six days beforehand. To me this suggests management needed to get the quarterly done and out of the way so they could focus on something important in this particular week.

Opinion only, dyor etc