Weebit Nano Limited

Good afternoon, everyone in Australia, and good morning to those that are perhaps joining overseas. My name's Eric Caret from Automic. I'm delighted to be here hosting today Kobi Hanock, CEO of WeBitNano, to give an update on the recent Q3 FY24 quarterly activities report that went out. Just quickly on some housekeeping, we will be taking questions from attendees today. So if you do have a question to ask, please use the Q&A function. Should be on the bottom of your screen or on the right of your screen. Type the question in and I'll put that to Kobe. So again, thank you everyone for joining us. Kobe, welcome. I'll hand over to you just to give a bit of an update on the quarter.

Thanks, Eric. So yeah, it's been... it's been another extremely busy quarter. We've been working, you know, really hard with, with so many of these foundries and IDMs and it's, it's hard to explain, you know, what's going on right now. I think that since the beginning of, of 24, we've started, I think it's four or five new evaluations with these big guys. So there's, There's really a very high level of interest with our ERAM. In our ERAM, we're very busy with these guys. We've been talking to, as I said many times before, we've been engaged with the majority of the big foundries and big IDMs. and there's been a lot of work going on. They are moving forward now more and more into detailed evaluation into negotiations. So there's really a lot happening. We had an amazing Embedded World Conference. For us, this was the biggest event for the year. I'm really happy that we managed to get the demo with the GF, the chip that we manufactured on the GF wafers. And that demo was really good. I mean, the team, I have to hand it to the team. In about two months, they managed to take a first wafer that came out of a fab and make it into a demo that showed an 8 megabit array working. And I think so many people were very impressed with what they saw that really triggered, you know, so many engagements now also with product companies, some product companies that have been following us kind of in the background have now come to us and said, hey, let's really move forward. So there's really a lot of activity, you know, these things, the negotiations are, are really tough. Um, you know, these are very big companies, very cautious about what they do with their fabs and stuff and, and very cautious about, you know, their expenditures and, and we're, um, we're insisting to get value for the technology. So, um, but it's, you know, it's been a very, very exciting quarter and I'm looking forward to, to the next one.

Great. Thanks, Kobe for that, for that overview. So, um, Again, as a reminder to attendees, happy to take questions. So please use the Q&A function at the bottom. I've seen someone has raised their hand. You will need to type the question in the Q&A function. So, Kobi, I'll hit off. You basically covered it, but I think I've seen one question come through already, and I think it's on everyone's mind around customer contracts. You've obviously got foundry contracts. You're in detailed conversations with potential customers. You probably can't give us defined timing, but how should investors be thinking about potential timing for a customer agreement?

So I think when you look at this, there's this chicken and the egg situation with the foundries and the product companies. The foundries, in order to really engage and move forward, they want to see some significant customer interest, the product company interest, because, you know, if they're going to start committing time on their manufacturing line, which is so expensive for them, you need to understand, by the way, maybe I need to clarify here, when we engage with a foundry, it's not only that, you know, we want the foundry to commit to license fees and NRE and all of that stuff. even during the initial engagement, the fact that they are allocating time on their manufacturing line, that's what's called opportunity cost. Because during that time, they could be manufacturing products that generate revenue for them. They could have their team working on projects that generate revenue. So the fact that they are engaging with us, the fact that they are working with us to analyze this and so on, this is already a very big commitment from their side. So, you know, they really need to get the confidence that there will be a market for this. Now, I think today, none of these fabs have a question anymore. You know, they see the customer demand, but still they want to have concrete demand. They want to know specific projects. They want to know specific things. So, you know, so we're working with them in parallel. We're working with the customers, the product companies to basically push the founders. Now a product company will not really commit to a product. they know that the whole process to transfer things to the fab is roughly a year and a half, two years. And I think our shareholders already know we need to transfer the technology then we need to go and manufacture the first round of silicon and we need to go test it. And then in order to qualify, we have to have actually at least three lots going through the line and going through the whole qualification process. So the product companies, you know, they definitely are interested and want to move forward and they are now giving us specific uh you know their specifications for their specific projects and and we're working on that and we're working with them to go to the uh foundries uh to push there so it's it's really this complex game with with three players here that were were playing and um and we're coordinating between them and so on. And everything here, unfortunately, I know people don't have the patience for it, but these things are taking time. And when I say that we're moving forward rather quickly, it's rather quickly semiconductor scale. And we are moving forward towards getting these agreements. It's a matter of going through this. We could, by the way, compromise. And the term some people use is, well, I don't even want to mention the term. But anyway, we could just give huge discounts or whatever to close the deal. But we believe that we have good value. And when we're talking to the foundries, we want to get the The value for all of this hard work that we've done for so many years. So, you know, it's happening. The agreements with the product company will come after. Because, you know, you first need to show them that you have the foundries and that's the big focus today, the foundries, the IBMs, that's where our big focus is. And as soon as we get those going, the customers are already, you know, lining up. And I think we will have those as well.

Great. Makes sense. You talked about engagement with foundries. In the quarterly, it was mentioned that, you know, you're working with DB Hightech and having discussions with their customer base. Can you maybe give a little update about that and also sort of more generally around how the tech transfer is going with DB Hightech?

Yeah, so, well, first of all, maybe this is a good point to mention Issachar that we brought on board as our chief revenue officer. You know, he's an amazing guy. He has so much experience in building sales organizations from zero in the semiconductor IP space. You know, we've known him for years and I'm very happy that he joined us. And he hit the ground running. I mean, I went with him to DB Hightech. We met their CEO and high-level team, the executive team. We identified the profile of, you know, who would be an ideal customer for us to be the first one to start moving forward. You know, they then connected him to their sales teams in the U.S., in China, etc., and he's been meeting with them. And we have already several customers that we're thinking of as good product companies to push forward with this. So we're really focused on bringing a strong, a good, you know, big name product company to DB HiTech, to use our ERAM as the first product company. And there's a lot of work going on there. And I guess if I already mentioned Issachar, he's already been working in different territories to find sales reps and start building the sales organization so that we can actually expand the sales activities. And we could already feel it at Embedded World now. we had very good, uh, you know, the booth was full all the time with a lot of people coming in and really exciting.

Great. Thank you. There were a number of questions coming in on the chief revenue officer appointment. So thanks for covering that off. Uh, a couple of questions coming through, um, around the global foundries, um, you know, uh, achievement, um, and also what it means for WeBid. So the question here is, does this mean that the technology transfer has been completed with global foundries? And then maybe more broadly, how should investors think about the opportunity with global foundries?

So our relationship with global foundries is very interesting. Global foundries, as people know, have their own re-ram technology acquired from Adesto, and they're working on different re-ram solutions in parallel to WeBit. So, you know, I would love to tell everyone, hey, Global Foundries made a final decision to work only with WeBit. That's not the case. And by the way, I mentioned many times that foundries work with multiple technologies in parallel, and And this is what you're seeing with global foundries right now. We are working with them in parallel to their internal work. We demonstrated, we don't have, and I guess, again, just to be very clear, we don't have a licensing agreement today with global foundries yet. I don't want people to misunderstand that there's an agreement and everything. We're still negotiating. With them, we're still trying to get to the point where we actually have a licensing agreement with them. And I think getting these wafers where we demonstrated our eRAM on their wafers was a very important step forward because first of all, global foundries saw the results and saw what we're achieving. And much more important, and especially at Embedded World, people saw the demo And there is significant customer interest here and customers are now talking to us and also going to GlobalFoundries and talking about it. So we are working on pushing this forward and actually getting to the point where we have an agreement with GlobalFoundries. It's again, these are long processes that require a lot of time and effort I would say patience and focus. We're just going to keep working on it until we get an agreement there.

Got it. Thanks, Kobi. And so global foundries aside, is this another question around how the conversations and discussions are progressing with other potential foundries? You've mentioned that you've been in discussions with many of the top 10. So just an update on the other foundry conversations.

So, yeah, it's moving forward. You know, to give you maybe a feel for just how these things work, you know, we engage with some of these big guys and they are very, I mean, there is a very positive atmosphere. And then you start hitting real life. You know, in one case, they had a crisis on a certain production line and, you know, they suddenly stopped all of the activity with us. for six, nine months to resolve whatever other issues, they just had to transfer all of the manpower to resolve those issues. before they could continue to work with us. In other cases, I mean, each one of them has, you know, we're having these situations which are not under our control. And it's normal. It's not something that is a big surprise for us. This is how it works with these big guys. You know, they have so many different considerations. RIRAM is just one of them. And we need to struggle to get them to actually give us the attention of the team and give us the access to the manufacturing facilities and things like that. And I mentioned, sometimes they might say, You're all standard. Everything is standard. Everything is great. We love it. But, you know, one of the machines that you need is already at capacity. We'll need to get another one. And so we need to take a look at it because it's a big additional investment and so on. So, you know, we're making progress. I mentioned, I think, since the beginning of the year, we actually made significant progress now with something like four or five of them moving forward to the next step. And there's really a lot of, I guess, a lot of activity with them. So I can't go into the details. And I know it's frustrating for the shareholders that they hear from me that there's so much happening and they don't see anything. But I really don't think it would be good for me to start going into details. It just hurt the cause. So we are moving forward towards getting agreements with these guys. It's not going to happen today or tomorrow, but it's going to happen. And we're pushing to do it as fast as we can in the next few months.

Thank you. There's a question, Coby, here just on quantum computing. You may or may not be aware, but I think it was yesterday it was announced the Australian government is investing $1 billion in a quantum computing technology company, which is actually based in the US. And the question is, does the potential development of quantum computing offer opportunities for WeBit in the future?

So quantum computing is a very new technology industry. it's still something that is, you know, very much in research. It's going to take many, many years to get this technology out to the point where it's actually useful. So at this point, you know, I would say neuromorphic computing and so on is going to happen much faster than quantum computing the way that I see it. And it's good that I'm very happy to see that Australia is taking a position now to move into these new advanced technologies. One of the things that was frustrating me, as some people know, is that I think it's so important to focus on semiconductors and on these technologies. And I didn't feel like the Australian government was really paying attention. So I actually looked at that announcement and said, wow, this is amazing news. This is so good. Finally, there's starting to be some focus on advanced technology in Australia. I don't think it's going to impact us in any way in the next five, 10 years at this point. And we're still very focused on pushing forward on our technology.

Got it. Just a question here about the Skywater relationship. Are there any Skywater customers who could proceed with Webit's re-ram and does not need to wait for other IP that Skywater does not have available?

We are pushing forward on that front. We actually have one project that I'm hoping will materialize already. We've had very good discussions with that customer, and the customer will need to make a decision before the end of 2024. But I think there's, you know, positive, more than 50% chance, I would say that we'll actually manage to get that project going. So that's one that we already managed to identify and hopefully will happen. We are Uh, we, we already talked to several other, uh, companies, uh, product companies, um, you know, trying to, to see how we, uh, we, we get that going. I think it's important. Some people are under the impression that the whole investment with, uh, Skywater was a waste of time and money. And so I want to, first of all, correct that impression. I think the investment in Skywater was a really, really important one for us. on several fronts. First of all, one of the things that's hurting us is the big focus that Skywater has on giving R&D services, but WeBit is actually a big beneficiary of that. We are now doing quite a bit of our R&D at Skywater. Now that we transferred the technology and qualified it there, we are doing, I would say, A lot of the art part is being done at Leti. A lot of the deep part is being done at Skywater. They have a much faster turnaround time. We have good pricing there. And so on the R&D front, We have a really good relationship with Skywater and it's enabling us to move forward faster right now. And so our R&D team is really benefiting and we have a very good relationship with Skywater on the R&D front. On the business front, the fact that we qualified at Skywater is a big enabler for a lot of the other discussions that we're having, including the fact that we closed with BB Hightech. I think that was also a consideration. And so, you know, the fact that we qualified at 125 degrees there was really a very important milestone enabling us to push forward the other negotiations. And, you know, the last point is I do expect us to eventually get some revenue from manufacturing at Skywater. Yes, it was a big disappointment for me to find out that Skywater is not putting a big emphasis on their foundry service. They're putting more emphasis on the R&D services. But we do have projects in mind and we are discussing with customers on manufacturing at Skywater as well.

Got it. An extension of that response, Coby, there's a question just around how your and your team's experience has been with the fabs over the last few months. Is the experience in line with what you expected or have there been sort of unexpected hurdles that have come up that sort of maybe impeding a little bit on getting to commercialisation and revenue?

I think it's been mostly what we expected. You know, there is really a lot of excitement in the fabs around re-ram because now they can see, you know, they can see that it's there. They can see that re-ram is actually available now. And that's a key element. They can see customer demand and they're moving forward at Foundry and IDM pace. That's how it works. By the way, I didn't mention something very important that also has been impacting the relationship. We announced more recently that we can demonstrate now that we can work at 150 degrees And we also demonstrated 100,000 cycle endurance. That's yet another very important step forward, showing the robustness of our technology. You know, many of the, well, there aren't that many rear end solutions in the market, but the ones that are out there, getting to 125 degrees is already a big challenge. Qualifying at 125 degrees is not something that everyone has managed to do yet. When we're demonstrating 150, it's showing even a bigger advantage that we have over other rear end solutions in the market. And it's really catching attention of many of these companies. Some people just have to have 150 degrees like automotive, etc., others just look at it and say, wow, that just gives us more confidence that this is really robust. And of course, yet others that need higher endurance For them, this is very important. So we have been making a lot of progress. The fact that we're demonstrating now this GF demo, the fact that we can demonstrate 150 degrees, it is giving these foundries and IDMs a lot more confidence. It's enabling us to push forward these discussions. Again, to answer your question, it's more or less what I expected. I knew that it's going to take a long time to close these agreements because this is how this industry works. But I am very happy with the progress that we're making. We haven't had a single foundry or IDM tell us, hey, we don't want your technology. We're not interested in talking to you. Go away. You know, that's, I think that's an important thing. You know, everyone is, you know, they, they might be moving a little faster, a little slower. They might be putting us on hold because they have something else they need to deal with or, or things like that. But at the end of the day, uh, we're continuing to proceed, uh, you know, at different, uh, speeds with, with the different foundries. We were continuing the discussions. And I think that's the key point. People are, nobody's saying we don't want this.

Yeah, no, that's super positive. Do you think the market, the broader market in terms of, you know, IDMs and customers know enough about WeBit? And obviously you've just appointed a chief revenue officer, but how do you get out and market that fantastic update around 150 degrees? Yeah. you know, demonstration. How does Weeby get its name out more for these potential customers?

I think it's a combination. First of all, Embedded World was really good for us to really get the name out there and the demo that we have. You know, people are hearing about us in the industry. People, well, you know, when you have a board like we have and a management team, executive team like we have, You can't avoid spotlights and people notice us and people are contacting us. The engagements are still, when we engage with a customer, we do need to, in order to dive deep and all of these customers want to dive deep get a lot more data, a lot more information about our technology. We need to engage with non-disclosure agreements and everything and demonstrate things to them and then they need to give us their spec and we need to do some simulations to show them that we can meet their spec. There's a lot of work around all of these engagements. There's really a lot of work, especially Elan's team on the design side. With each one of these customers, It's not just the customer gives us a spec. We look at it and say, oh yeah, we can do it. We need to take it. We normally need to do some simulations. We need to build some initial system in order to really demonstrate to them and tell them, hey, this is what we can achieve. These are the currents, the voltages, the cell size, all of these parameters. Um, so the, the engagements are very, um, uh, you know, they're very deep, uh, and, and now Isakar is obviously staring up a lot of activity. He's calling on companies, um, and, and we're getting more and more requests. And this is where, you know, we really need to manage things. On the one hand, we want to work with more customers. On the other hand, we don't want to just hire a huge team before we're actually you know sitting confident with with more revenue and stuff so this is where the the juggling and and the balancing act comes in to do things in a in a controlled way. And, and we're, I think we have a very experienced team that knows how to do it. And that's, that's part of the focus of this year to, to expand, to grow, to work with more customers, but not to just go crazy and spend all the money on hiring and run out of money. So we're, we're doing this in a very controlled way.

Got it. We've talked a lot about the embedded memory technology. Let's shift to the discrete memory development. Question here about saying, can you provide an update on the discrete memory development and has there been any advancements in this area?

Yes, there has been progress. I think I mentioned this in the past. We're actually looking at more than one option for discrete and for selector technology, etc., Um, this is, you know, obviously a very, very complex technology. It is, uh, you know, second priority, uh, when, when Atleti, we need to decide if a certain machine will work on moving forward a project that we're doing for a certain foundry or, or, you know, in, in the research on, on embedded to improve something for a customer. We'll normally give the priority to the embedded activity and the discrete is right now in lower priority. I think everyone here is looking forward to seeing some revenue and the revenue will be from the embedded side. So obviously that's my big focus and the priority, but we are making progress. on the different options of discrete. Actually, even one of those options we're looking at and how we work with a certain foundry. And there's really a lot of, well, there's activity there. I don't wanna say a lot of activity, there's activity there. We're making progress, but it is in the background. It's not the big focus right now.

Got it. Thank you. Still a bunch of questions here. We'll try to get through quickly. Given the interest from the foundries, is there a realistic possibility of one of them taking a strategic stake in WeBit at some point in time?

You know, definitely something that's possible, you know, and you can see that, I guess, Global Foundries did actually acquire a re-ramp or whatever was left of that re-ramp technology. I can't rule out that option. I think people know my position about, you know, the exit strategy and M&A and so on. I believe that what we're doing now is building a name for WeBit as a big, strong company. We will be signing agreements with some of these big foundries and big IDMs. and establishing ourselves as a big player, the leading player. My goal is definitely not just to be a big player. We are definitely targeting to be recognized by the market as the re-RAM company, the leading re-RAM company. I think that's what we should be doing. When we start thinking about exit strategy and who's going to acquire us and things like that, that's when you lose focus. That's when you start not investing in some of the things that you say, oh, you know, maybe that's not critical for my exit. And then the company doesn't become strong enough. And then when an offer comes, you end up compromising and I don't want to compromise. So, you know, if and when someone comes to us, the board will obviously have to consider it. That's their job. And we'll see. But at this point, I'm just totally focused on making WeBit the leading reRAM company. And that's what we're going to be.

You could probably spend 10 minutes answering the next question, but maybe do your best to provide a summary. Where do you see the semiconductor industry heading in 10 years?

Oh, yeah, that's a big one. I think it's very obvious now to everyone that semiconductors are key to anything that we do. And AI is even giving that a huge boost. You suddenly have this big, huge rocket just pushing semiconductors forward. It's everywhere. It's everywhere. Anything that you look at has semiconductors in it. the expectation, analyst expectation is for a rapid growth that semiconductors will already be more than a trillion US dollar market by 2030. That's not far away. And I think that AI will actually accelerate that process. Um, and then, you know, you have quantum computings and stuff, but, uh, just the AI side. And, and of course, we bid is, is going to be writing that, uh, as well. Uh, we, we do impact, uh, AI, especially the edge AI, and we've been talking about neuromorphic. So, This is a great market to be in, a very exciting market. For me, having joined this market, disclosing, you know, age and stuff in 1980, when I just joined the market, it was just this little tiny market that, you know, was just starting. And to see where we are today, and just to see where we're heading. It's just amazing. It's just so exciting. And I'm so happy to be part of this market, even though it's extremely frustrating, the pace that things move forward.

Toby, a question from an investor just asking for a little bit more direction around the future R&D. Are there any specific areas and milestones that are being targeted around speed, performance, reliability in the embedded non-volatile memory and also anything else around the selectors or the transistor work that's being done?

Well, there's constant pressure by, you know, by the different fabs and customers that we continue to shrink the cell size, that we use lower voltages. And we are looking at how we can achieve those things and move to smaller geometries, et cetera. So there's a We have now, and the good news is that especially after the race that we did a year ago, we have the funds to do multiple projects in parallel and explore different opportunities. So we are now working, as I mentioned, at Leti and at Skywater to check different ideas. We're constantly trying to challenge ourselves use sometimes different methods of manufacturing, which enable us to get better results. We sometimes look at, you know, if we add another standard material, if we, you know, if we don't use just pure, you know, silicon or hafnium or this, you know, there are different materials that are standard in the fab that fabs are used to using that sometimes when you add, when you play with combinations and things like that, you can actually achieve higher temperatures, lower voltages and so on. So we're constantly exploring these things. I remind you that around of silicon in the fab takes many months. So, you know, all of these things, But we are getting good results. Actually, some of the ideas that came up are resulting in significant improvements in our reram and there's constant improvement in the results. And we'll continue to do that. We'll never stop the R&D. I mean, if anything, we'll increase and push forward stronger because in this industry, If you stand still, you're falling behind. You have to constantly be moving forward.

Kobe, a question here just about the revenue that was recognised by WeBit in Q2. Can you provide a bit more detail about where that came from and why there wasn't sort of continuing revenue this quarter?

I talked about it in the past that we'll be seeing a trickle of small amounts coming in. The agreements, when you sign an agreement with someone like DP Hightech, obviously, it's a big agreement with many aspects. Now, normally... you like to ask the foundry for a payment upfront of license fees, et cetera. And then there's the NRE that comes. The first people that sign up, they are more cautious and you end up compromising on things. For example, on the payments of license fee with Skywater, with DB Hightech, license fee, NRE, et cetera, is more tied to different milestones and and so on. So what we saw were initial small payments that came based on some milestones that were achieved As we move forward, as we achieve more milestones, we'll see more of these payments come in. As we sign new agreements, we'll see additional payments. I repeat, it's gonna be in the next year, it's still gonna be a trickle of small payments that we'll be seeing here and there and not a big payment. It's gonna take time till we are established enough in the market that we can actually go and just ask people or, or demand to just be paid license fee upfront, et cetera. So.

All right. We've got you for five more minutes, Kobe. Can you talk a little bit about the China opportunity? It was mentioned in the quarterly that you're dipping your toes back there. Can you just talk a little bit about that?

Yeah, it's, you know, China is kind of this interesting situation. On the one hand, it's a huge market for semiconductors. We talked about it back in 2019 and so on. On the other hand, you have the whole geopolitical aspect of it. So we're very cautious. in the way that we approach China, but you can't really ignore such a huge market. So, we are working with companies that are okay by the US government, we're engaging with them, we're looking at it, we're taking different steps to protect ourselves more. So, by the way, Issachar has a lot of experience in China. If you look at Siva, where he was before, which is another semiconductor IP company, they really grew rapidly in China. So he knows the Chinese market. We're You know, we're not totally ignoring it. And we are looking at different opportunities there in a cautious manner.

Got it. Just a quick one here. Questions come through about, in your opinion, will the ASX better understand or appreciate future announcements? So maybe just a quick update on your engagement and dialogue with the ASX.

Well, I guess it's not a secret that we've had some issues with the ASX and with some of the announcements that we made, with the high-tech announcements, with the whole situation that happened when Fred left and so on. We've had very good discussions with the ASX, despite what these – articles that came out, whatever, two months ago or something like that, stated WeBit is definitely not an ASX hater. The bottom line is, and I said it many times, I think the ASX has been good to us. We managed to raise money. We have very loyal shareholders there. And we had our disagreements with the ASX. We've had a series of discussions with them. I'm glad to say that today we have an understanding with the ASX. We resolved the open issues. And I feel like we're opening a new phase with the ASX now. And hopefully we won't be seeing any more of those misunderstandings that we had with them in the past. So we have a very good communication channel with them now. You know, they requested that we show them that we've, you know, Upgraded some of our procedures and we did what they requested. I believe we're off to a good restart with the ASX and we have a good relationship now with them.

Great. A couple of industry questions. One is there's a lot of activity in the development of chiplets. I can't say I've heard of that, but will Webit be involved in this aspect of the industry? And then there's a question about Silvaco. It looks like they're moving towards a NASDAQ listing. And is Webit still working with them? And can they potentially help bring on potential customers?

Well, chiplets are a hot topic in our industry right now. Weebit is definitely actually, you know, you should have heard a meeting that we had yesterday and all of the discussion about chiplets. So we're definitely, you know, looking, working on this as well. This is something that is an important potential for WeBit. And so we're definitely looking at it and defining how we want to address chiplets. And regarding Salvaco, we have a very good relationship with them. I mean, they're very good partners and ongoing partners. let's say supporting each other and discussing different things. So they're a great company and I'm happy to have them as, as our partners.

Thanks. All right. Two last questions. One just around the share price and, you know, potential, you know, shorting or manipulation that can happen with the share price. Just asking for what your view is on that.

You know, I can understand, we're one of the most shorted stocks on the ASX for a long time now, and the shorters have managed to push down the share price quite a bit. I think that I can understand that they don't understand what we do. And so they are, you know, they're looking at a company that hasn't made big announcements, hasn't shown big agreements yet and whatever. I, you know, I said it many times. I don't control the shorters. I don't even know who they are. And they have their considerations. I am focused on what I do have at least some level of control over, and that's getting these agreements done and pushing WeBit forward. WeBit is making very good progress moving forward. I'm feeling very bullish about WeBit. I think we're in a very good position. As I said, we started new evaluations and new engagements just in the last few months. several new engagements. And it's really exciting for us. So I'm focused on that. I believe that eventually, again, I can't predict anything about share price and I'm not allowed to and so on. But, you know, our goal is to get these agreements done, to get to the position where we're clearly accepted as the leading rear end company in the market. That's what I'm focused on. I believe, I hope that, you know, eventually the share price will reflect the true value and the true potential of WeBit. And that's what I focus on. I can't really, if I start looking at the shorting and if I start trying to deal with that, I'll be losing focus over what's really important. And so I'm not really spending much time on it or any time actually on it.

Got it. Thanks, Kobe. All right, one last one. You probably alluded to part of it in that response there, but what should investors look forward to over this next six months? And what are you excited about?

Well, I really want to have an agreement with one of the big guys in six months. I really, that's the number one, two, and three priority on my list. I mean, that's what I wake up with and that's what I go to sleep with is pushing the team and pushing these negotiations to really get to an agreement, at least one, major agreement in the next six months, definitely making some significant progress with others. We've talked about it in the past, getting this agreement will be difficult once we get the next one. And we're already engaged with so many others. I believe it'll be easier to get following agreements and get into a flow of agreements in 25. Right.

Exciting times. And as always, Kobi, thank you so much for your generosity of time. I think we've got through all the questions. If we've missed anything, my email is on the ASX releases. So please email me and I'll be more than happy to arrange a response. But otherwise, thank you, everyone else for taking the time to join us for today's update. And thank you again, Kobe. I'll let you close things out.

Well, thanks, Eric, for organizing this. And again, the most important people around here are the shareholders that, you know, I know so many of them have been loyal and holding and despite all of the ups and downs, I know that they're with us and I really appreciate it. I definitely don't take that as granted. And, you know, we're definitely focused on giving these shareholders good value for their investment. And, you know, that's what we really want to do. So thank you, everyone.

Thank you all. Thanks, Kobi.