Okay, good afternoon, everyone in Australia, and good morning to those that are, perhaps, joining overseas. My name's Eric Kuret from Automic. I'm delighted to be here hosting today, Coby Hanoch, CEO of Weebit Nano, to give an update on the recent Q3 FY 2024 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 Coby Hanoch. So, again, thank you everyone for joining us. Coby Hanoch, 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 another extremely busy quarter. We've been working, you know, really hard with so many of these foundries and IDMs, and it's hard to explain, you know, what's going on right now. I think that since the beginning of 2024, we've started, I think it's four or five new evaluations with these big guys. So there's really a very high level of interest with, you know, with our ReRAM, in our ReRAM. 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, you know, 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 2 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, you know, 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 really tough. You know, these are very big companies, very cautious about what they do with their fabs and stuff, and very cautious about, you know, their expenditures. And we're insisting to get value for the technology. So, but it's, you know, it's been a very, very exciting quarter, and I'm looking forward to the next one.
Great. Thanks, Coby, for that, for that overview. So, 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 Coby, I'll kick off, you've basically covered it, but I think it's. I've seen one question come through already, and it's the, I think it's on the, 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, you know, potential timing for a customer agreement?
So I think, you know, 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 foundries. Now, a product company will not really commit to a product.
They know that the whole process to transfer things to the fab is, you know, roughly a year and a half, 2 years, you know. 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 wanna move forward, and they are now giving the specific, you know, their specifications for their specific projects. And we're working on that, and we're working with them to go to the foundries to push there.
So it's really this complex game with three players here that we're playing, 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 you know, when I say that we're moving forward rather quickly, it's rather quickly semiconductor scale, and you know, we are moving forward towards getting these agreements. It's a matter of going through this. You know, we could, by the way, compromise and you know, the term some people use is... Well, I don't even want to mention the term.
But anyway, it's, 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 wanna get 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 biggest today, the foundries, the IDMs, 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'll 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 HiTek 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 HiTek.
Yeah. So, well, first of all, maybe this is a good point to mention Ishachar, that we brought on board as our Chief Revenue Officer. You know, he, 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, and I'm very happy that he joined us. And he hit the ground running. I mean, I went with him to DB HiTek. We met their CEO and, 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, we have already several customers that we're thinking of as good product companies to push forward with this. So we're, we're really focused on bringing a strong, a good, you know, big name product company to DB HiTek to use our ReRAM as the first product company. And there's a lot of work going on there. And I guess if I already mentioned Ishachar, 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, 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. A couple of questions coming through around the GlobalFoundries achievement and also what it means for Weebit. So, the question here is: Does this mean that the technology transfer has been completed with GlobalFoundries? And then maybe more broadly, how do you-- How should investors think about the opportunity with GlobalFoundries?
So, our relationship with GlobalFoundries is very interesting. You know, GlobalFoundries, as people know, have their own ReRAM technology, acquired from Adesto, and they're working on different ReRAM solutions in parallel to Weebit. So, you know, I would love to tell everyone, "Hey, GlobalFoundries made a final decision to work only with Weebit." That's not the case. And by the way, I mentioned many times that foundries work with multiple technologies in parallel, and this is what you're seeing with GlobalFoundries right now. We are working with them in parallel to their internal work. We don't have, and I guess, again, just to be very clear, we don't have a licensing agreement to date with GlobalFoundries yet.
I don't want people to misunderstand, that, you know, there's an agreement and, 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 ReRAM on, on their wafers, was a very important step forward. Because, first of all, GlobalFoundries 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, 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, I would say patience and focus, you know, we're just going to keep working on it until we get an agreement there.
Got it. Thanks, Coby. And so, GlobalFoundries aside, is just another question around how the conversations and discussions are progressing with other potential foundries.
Mm.
You've mentioned that, you know, you've been in discussions with many of the top ten, 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, you know, 6-9 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, big guys. You know, they have so many different considerations, ReRAM 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, you know, access to the manufacturing facilities and things like that. And, you know, I mentioned, you know, 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 4 or 5 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 won't. It, it'll just hurt the cause. So we're moving forward towards getting agreements with these guys.
It's not gonna happen today or tomorrow, but it's gonna happen, and we're pushing to do it as fast as we can in the next, by the next few months.
Thank you. There's a question Coby here, 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 U.S. The question is: Does the potential development of quantum computing offer opportunities for Weebit in the future?
So quantum computing is a very new technology. 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. You know, 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, you know, in the next 5 years, 10 years, at this point, and, and we're still very focused on pushing forward, you know, on our technology.
Got it. Just a question here about the SkyWater relationship. Are SkyWater customers who could proceed with Weebit's ReRAM 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, I'm hoping will materialize already. You know, 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 already talked to several other companies, product companies, you know, trying to see how we get that going. I think it's important.
Some people are under the impression that the whole investment with 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, you know, one of the things that's hurting us is the big focus that SkyWater has on giving R&D services, but Weebit 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, I would say a lot of the R part is being done at Leti, a lot of the D part is being done at SkyWater. They have a much faster turnaround time. We have good pricing there.
On the R&D front, we have a really good relationship with SkyWater, and it's enabling us to move forward faster right now. 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 DB HiTek. I think that was also a consideration. 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. 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, 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 some unexpected hurdles that have come up that, you know, sort of maybe impeding a little bit on getting to commercialization and revenue?
I think it's been mostly what we expected. You know, there is really a lot of excitement in the fabs around ReRAM, because now they can see. You know, they can see that it's there. They can see that ReRAM is actually available now, and that's a key element. They can see customer demand, and you know, 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're also demonstrated 100,000 cycle endurance. That's yet another very important step forward, showing the robustness of our technology.
Well, there aren't that many ReRAM 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 ReRAM solutions in the market, and it's really catching attention of many of these companies. You know, some people just have to have 150 degrees, like automotive, et cetera. Others just look at it and say, "Wow!" You know, that just gives us more confidence that this is really robust. Of course, the 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, you know, this is how this industry works. But I am very happy with the progress that we're making. You know, 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 important.
Everyone's, you know, 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 things like that. But at the end of the day, we're continuing to proceed, you know, at different speeds with the different foundries. We're continuing the discussions, and I think that's the key point. 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, and customers know enough about Weebit? And obviously, you've just appointed a chief revenue officer. But how do you get out and market the fantastic update around 150, 150 degrees, you know, demonstration? How does Weebit get its name out more to 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. You know, 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, you know, 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 Ilan's team on the design side. You know, 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, you know, 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, the... You know, all of these parameters. So the engagements are very, you know, they're very deep. And now Ishachar is obviously stirring up a lot of activities, calling on companies, 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, and on the other hand, we don't wanna just hire a huge team before we're actually, you know, sitting confident with more revenue and stuff.
So this is where the juggling and the balancing act comes in to do things in a controlled way, and we're—I think we have a very experienced team that knows how to do it, and that's part of the focus of this year, 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 doing this in a very controlled way.
Great. 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, there has been progress. I, I think I mentioned this in the past. We're actually looking at more than one option for discrete and for selector technology, et cetera. This is, you know, obviously a very, very complex technology. It is, you know, second priority. When, when Leti, 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, the priority to the embedded activity, and, and, 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, you know, 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 want to 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. Question: Given the interest from the foundries, is there a realistic possibility of one of them taking a strategic stake in Weebit at some point in time?
You know, definitely something that's possible. You know, and you can see that, I guess GlobalFoundries did actually acquire, a ReRAM tech or whatever was left of that ReRAM 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 Weebit 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, we are definitely targeting to be recognized by the market as the ReRAM company, the leading ReRAM company, and I think that's what we should be doing. When we start thinking about exit strategy and who's going to acquire us and, 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 Weebit the leading ReRAM company, and that's what we're gonna 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! That's, yeah, that's a big one. I think, you know, it's very obvious now to everyone that semiconductors are key to anything that we do. And, you know, AI is even giving that a huge boost. You know, 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 $1 trillion market by 2030. That's not far away. And I think, that AI will actually accelerate that process, and then, you have quantum computers and stuff. But, just the AI side, and, of course, Weebit is going to be riding that, as well.
We do impact 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. You know, for me, having joined this market, you know, I'm 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 to think that things move forward.
Coby, 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, you know, around speed, performance, reliability in the embedded non-volatile memory, and also or 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. We are looking at how we can achieve those things and move to smaller geometries, et cetera, et cetera. So we have now, and the good news is that especially after the raise 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 a round 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, you know, in this industry, if you, if you stand still, you're falling behind. You have to constantly be moving forward.
Coby, a question here just about the revenue that was recognized by Weebit in Q2. Yeah, can you just provide a bit more detail about where that came from, and then 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, you know, coming in. You know, the agreements, when you sign an agreement with someone like DB HiTek, 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, you know, then there's the NRE that comes. You know, the first people that sign up, you know, they are more cautious, and you end up compromising on things. For example, on the payments of license fee with SkyWater, with DB HiTek, license fee, NRE, et cetera, is more tied to different milestones and so on.
So what we saw were initial small payments, that came, you know, 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, you know, additional payments. I repeat, it's gonna be in, you know, 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, Coby. Can you talk a little bit about the China opportunity? It was mentioned in the quarterly that-
Mm-hmm.
So 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, you know, we are working with companies that are, you know, okay by U.S. government. We're engaging with them, we're looking at it, we're taking different steps to protect ourselves more. So, by the way, Ishachar has a lot of experience in China. You know, if you look at CEVA, 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, you know, in a cautious manner.
Got it. Just a quick one here. A question's come through about, in your opinion, will the ASX better understand or appreciate future announcements? So maybe just a quick update on your engagement-
Mm-hmm.
and dialogue with the ASX.
Well, I guess it's not a secret that we've had some, you know, some issues with the ASX and with some of the announcements that we made, you know, with the DB HiTek announcements, with, you know, the whole situation that happened when Fred left and so on. We've had very good discussions with the ASX, despite what, you know, these articles that came out, whatever, two months ago or something like that, stated. Weebit is definitely not an ASX hater. We're, you know... 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 you know, we did what they requested. I believe we're off to a you know a good restart with the ASX, and we have a good relationship now with them.
Great. 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 Weebit be involved in this aspect of the industry? And then there's a question about Silvaco. Looks like they're moving towards a NASDAQ listing, and, you know, is Weebit 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 Weebit. And so we're definitely looking at it and defining how we want to address chiplets. And regarding Silvaco, we have a very good relationship with them. It's I mean, they're very good partners and ongoing let's say, supporting each other and discussing different things. So they're a great company, and I'm happy to have them 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. 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 Weebit forward. Weebit is making very good progress moving forward. I'm feeling very bullish about Weebit.
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 ReRAM 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 Weebit, 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, Coby. 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, you know, 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, if in the next six months, definitely, making some significant progress with others. You know, it's - we've talked about it in the past, getting this agreement will be difficult. Once we get the next one, it's gonna be...
We're already engaged with so many others. I believe it'll be easier to get few following agreements and, you know, get into a flow of agreements in 2025.
Great! Exciting times. And as always, Coby, 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, Coby. I'll let you close things out.
Well, well, thanks, Eric, for organizing this, and, again, the most important people around here are the shareholders that are... 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 wanna do. So thank you, everyone.
Thank you, all. Thanks, Coby.