19 November 2015 ASX Announcement
WEEBIT NANO INVESTOR PRESENTATION AND
ROADSHOW INCLUDING PROFESSOR JAMES TOUR
Radar Iron Limited (“Radar”, ASX:RAD) wishes to advise that the Directors and Management of Weebit Nano Ltd including Professor James Tour will present the attached Investor Presentation in Australia commencing the 19th November 2015.
In addition Radar confirms that option fee 1 has been paid to Weebit Nano Ltd (AUD$75,000.00).
All enquiries should be directed to Damon Sweeny, Company Secretary on +61 (08) 9389 5885. For and on behalf of Radar Iron Limited
Ananda Kathiravelu
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Investor Roadshow November 2015
Yossi Keret, CEO
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Disclaimer
This presentation contains certain statements that constitute forward - looking statements. Examples
of such statements include, but are not limited to, statements regarding the design, scope, initiation,
conduct and results of our research and development programs; our plans and objectives for future
operations; and the potential benefits of our products and research technologies. In some cases,
forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,”
“plans,” “anticipates,” “estimates,” “potential” or “continue” or the negative thereof or other comparable
terminology These statements involve a number of risks and uncertainties that could cause actual results
and the timing of events to differ materially from those anticipated by these forward-looking statements.
These risks and uncertainties include a variety of factors, some of which are beyond our control. All
forward-looking statements and reasons why actual results may differ are based on information available
to us when initially made, and we assume no obligation to update these forward-looking
statements or reasons why actual results might differ.
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Our Vision
Weebit plans to become the paramount solution for the
USD$37B Flash Memory market by 2018
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Professor James Tour
Professor of Materials Science and Nano Engineering and a Professor of Computer
Science at Rice University in Houston, Texas
Well known for his work in molecular electronics and molecular switching molecules
Holds more than 60 US patents and has over 500 publications
Was named among “the 50 most Influential Scientists in the world today” by
TheBestSchool.org in 2014
Was selected as Scientist of the Year by R&D magazine in 2013
Won the 2012 ACS Nano Lectureship Award that honor the contribution of scientists
whose work has significantly impacted the fields of nanoscience and nanotechnology
Was ranked as one of the top 10 Scientists in the world over the past decade by
Reuters in 2009
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Jeong et al., Rep. Prog. Phys. 75 076502 (2012)
Market opportunity
Target market - Flash memory replacement Overall market – USD$37B and is rapidly growing Global emerging memory technology market – around USD$600M in 2015 and forecasted to grow to USD$3.6B by 2020 Customers - Everybody (Cloud, Data centers, Smartphones, IoT, Wearable electronics, Automotive, Healthcare…) For
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Market opportunity
Flash market
growth engines
Smartphones and tablets:
The major markets where
non-volatile memory is
used.
Connectivity:
Cloud Data Centers require ultrafast
response time, currently utilizing
expensive SSD Flash drives.
Wearable:
Use of wearable electronic
devices is expected to grow
substantially
Health Care:
Expected to be used more in
personal healthcare applications
such as pacemakers and heart
rate & blood pressure monitors
Internet of Things (IoT):
Network of physical objects
or “things” which enables
collection and exchange of data.
Automotive:
Navigation, infotainment and
safety components which
requires high reliability devices. For
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The Challenge
Flash technology cells physically cannot be scaled down any further without a
rapid deterioration in reliability
At the same time, world memory storage use is growing exponentially
(doubling every two years) and desperate for a higher performance memory
device
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Weebit’s solution
A quantum leap that will allow semiconductor memory
elements to store data at much higher densities, while also
being cheaper, faster, more reliable and more
energy efficient than existing Flash technology, and other
emerging ReRam technologies.
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Peer Comparison – ASX:FRY (4D-S) • 4D-S memory element named MOHJO™: Metal Oxide Hetero Junction
• The metal material is made of different oxidized metals - Pr (Praseodymium), Ca (Calcium) and Mn( Manganese)
• The Pr, Ca and Mn are not used in the semiconductor industry and may have CMOS compatability issues *
• 4D-S On-Off ratio is 4 magnitude (10,000 times) of order lower than Weebit
• 10^3 Vs 10^7 * Compared to Silicon Oxide, metals fabrication is challenging and may cause severe electromigration and diffusion problems which require complicated diffusion barrier layers.
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Peer Comparison – ASX:SOR • SOR strategic elements - nano cube memory cell made from Cerium
oxide CeO2 (Ceria)
• Cerium is rare earth mineral which is rarely used in the semiconductor and memory space, and would require costly industry-wide retooling to become widely adopted.
• SOR on-off ratio is 3 magnitude of order (1,000 times) lower than Weebit
(10^4 Vs 10^7)
SOR‘s main focus is inkjet printing technology and transparent electronics research, and is far from any practical memory application
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Peer Comparison - Crossbar
• Crossbar‘s memory element is made from silver - one of the most expensive metals in the semiconductor industry
• Weebit uses Silicon Oxidation which is the simplest, most reproducible and cost effective process in the semiconductor industry
• Corssbar on-off ratio is 4 magnitude of order lower than Weebit
– 10^3 Vs 10^7
• As an example, the semiconductor industry previously spent huge resources to migrate from the expensive gold wires to
copper wires, in order to reduce cost
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Peer Comparison - Viking • Viking is specializing in DRAM and systems and buys ReRAM from Sony
• Sony ReRAM memory element is made of Copper Tellurium alloy; Tellurium is a rare and expensive element (1-5 parts per Billion in the earth's crust)
• Weebit‘s use of Silicon oxide is the most effective way to implement the ReRAM manufacturing process
* There is growing demand for Tellurium in Solar panels, thus it is likely to become even more expensive.
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Competitors Analysis
Competitors analysis demonstrates
that Weebit has
the lowest cost per bit, as its uses SiOx
material which is the cheapest memory
element available.
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ReRAM Technology
What is ReRAM
An emerging non-volatile Memory that changes its resistance across
a special dielectric material (the Secret source)
In order to construct a binary language:
• Set voltage is applied to create low resistance – logic “1
• Reset Voltage is applied to create high resistance – logic “0”
Unlike Flash which confines electrons in a small trap the ReRAM
principle is based on a material resistance change
ReRAM can be stacked in 3D array to provide unlimited capacity
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ReRAM Technology
ReRAM Advantages:
Higher density Lower voltage X1000 faster Higher reliability
Stores more data Much cheaper Much smaller
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Weebit’s ReRAM Technology Advantage
Professor Tour developed a breakthrough ReRAM technology transforming
Silicon Oxide (SiOx) into a memory element
Made of SiOx
Fab friendly - Silicon is the most studied and produced material in the
semiconductor industry
Cheap - Lower manufacturing costs, higher yield
Scalable - SiOx can be easily scaled and packed into a large 3D memory array
Improved performance
Extremely High On-Off ratio - allows multi-bit capability
Unipolar structure allows higher scalability than ReRAM alternatives
Energy efficiency- Lower power consumption, increased battery life
“Hard Rad” - Radiation hardness class
Hard-Rad certified after demonstrating 2 years operation in space For
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Spacecraft Single Event Environments at High
Shielding Mass (HiMassSEE)
Powerful computers are essential to space technology
However, power is less of an issue than the ability to maintain coherence in hostile space environments
Coherence and reliability is particularly crucial for satellite circuitry and long term space missions
Weebit’s devices were sent to space and exposed to radioactive solar and cosmic rays radiation for 2 years
Weebit’s memory devices worked without degradation or loss of performance
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Go to Market Strategy
Entry point
Key Target players ACTIVITY
40nm commercialization
IP revenues
Chip revenues
storage market
revenues
2016
2017
2018
2020
2022
Target Market
Engage with R&D and
Fabrication Centers
Collaboration with Embedded
memory vendors
IP revenue with
large semiconductor
companies
Standalone Memory
Production
Storage market
product sales
DSI, SMIC,
TowerJazz
Samsung, Micron, TSMC
Toshiba
Samsung, Micron, TSMC
Toshiba
TSMC, DSI,
SMIC, TowerJazz
Intel, Qualcomm, Texas
Instruments, Samsung
Space, Automotive,
Datacenters
Wearables, IoT, Smartphone,
SSD
IP Core market
($2B/year)
Faster ROI
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Incorporated in Israel 2014, privately held
Built around James Tour’s revolutionary
ReRAM technology
Licensing of Rice University technology
Seven patents - US and Global
Funded by founders and private investors
Company Brief
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Management Team
Yossi Keret- CEO & Director
Mr. Yossi Keret has extensive management and financial experience and has led a variety
of international companies in sectors including industrials, finance, biotech and
technology both in Europe and the USA. Mr. Keret’s experience includes public companies. Mr Keret has
played roles in M&A negotiations and implementation including a major part in Initial Public
Offerings (IPO) on NASDAQ and has led large private equity raisings for public companies.
Amir Regev - VP Engineering
Amir brings to Weebit two decades of Device & Technology experience in the semiconductor
industry, mainly in Flash memory technology. Prior to Weebit Amir served as a senior
Engineer in several leading semiconductor and memory technology companies, including
Intel (NASDAQ:INTC), SanDisk (NASDAQ:SNDK), Micron (NASDAQ:MU) and Marvell
(NASDAQ:MRVL).
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Dr. Moti Gross
Moti Gross has extensive experience leading technology companies and developing business strategy for established
enterprises and start-ups. Dr. Gross has handled various large technological projects including raising capital in both
government and private sectors. Dr. Gross earned his PhD in Economics and Finance at Oxford University. Dr. Gross is also
the CEO of Dotz Nano Ltd, a specialised nano-technology company focused on Graphene Quantum Dots.
Rami Hadar
Rami Hadar is the former CEO of Allot Communication (NASDAQ:ALLT). During the eight years he functioned
as CEO, Mr. Hadar increased sales to above US$100 million annually, performed 3 M&A’s and led the company
to an IPO on NASDAQ. Prior to Allot, Mr. Hadar was the CEO of 2 Israeli companies that executed successful
exits for their investors. Mr. Hadar was also one of the founders of Combox and was a director in the company
when it was purchased by Terayon. Mr. Hadar is presently a partner in a new venture capital firm Eucalyptus
Growth Capital that focuses on investment and assistance to mature Israeli companies.
Board Of Directors
Dr. Amiram Bornstein
A leading specialist in plastic surgery, Dr.Bornstein is also a highly successful and influential
technology investor. Dr. Bornstein brings to the Board of Directors his knowledge and
experience in strategic planning and investment markets. For
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Board Of Advisors
Professor James Tour
Tour has 550 research publications and over 70 patents
Named among “the 50 most influential scientists in the world today” by TheBestSchools.org in 2014
Named “Scientist of the Year” by R&D magazine, 2013
Ranked one of the top 10 chemists in the world over the past decade, by a Thomson Reuters citations
per publication index, 2009
Feynman prize in experimental nanotechnology in 2008
NASA space act award in 2008 for his development of carbon nanotube reinforced elastomers
Yongsung Ji, Ph.D.
Ph.D. From the prestigious GIST and KIST universities in Korea
Lead device researcher in SiOx ReRam in Prof. Tour’s team, Rice University
Awarded researcher in the electronics and physics domains since 2001
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Huge growing storage market (USD$37B) already demanding High Performance storage solutions
Flash technology is approaching a scalability barrier and cannot meet speed and reliablility performance needs
ReRAM is the leading emerging memory candidate
Weebit controls a pioneering technology developed at a top-ranking material science university which outperforms Flash in each parameter
Weebit’s solution is cheaper, more efficient and is easier to commercialize that other ReRAM developers
IP Strategy - shorter time to market
Management and technology veterans with proven track records
Summary
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Payment of a AUD$75k option fee for an exclusive 28 day option to purchase.
A further AUD$75k at the completion of due diligence
Weebit shareholders holding more than 50% of Weebit passing a resolution to approve the Transaction.
Radar to issue 750,000,000 shares In exchange for 100% of the issued capital in Weebit (subject to ASX escrow provisions).
Key Acquisition Terms
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Weebit and Radar completing DD in respect of the other within 28 days;
ASX providing conditional approval for Radar to be re-instated to trading on the ASX;
Re-compliance with Chapters 1 and 2 of the ASX Listing Rules;
The parties obtaining all necessary shareholder and regulatory
Change of Radar’s name to Weebit Nano Ltd; and
Receiving valid, non-revocable applications for at least A$5,000,000 under the Capital Raising
Conditions Precedent
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Pro Forma Capital Structure
Event Shares Options
Currently on issue* 321,613,956 55,500,000
Consideration to Weebit shareholders 750,000,000 -
Public Offer 100,000,000 -
Transaction Options - 50,000,000
TOTAL 1,171,613,956 105,500,000
*assumes issue of all securities approved in General Meeting on 28 October 2015 For
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Indicative Timetable
Event Date
Due diligence completed and formal documents executed 11 December 2015
Completion of second tranche payment 13 December 2015
Dispatch Notice of Meeting seeking approval for the acquisition of WEEBIT 14 December 2015
Lodgement of prospectus with ASIC 14 January 2016
General Shareholder Meeting to approve the acquisition of WEEBIT 17 January 2016
Closing date of offer under the prospectus 1 February 2016
Dispatch holding statements 10 February 2016
Requotation of shares on ASX 1 March 2016 For
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