Atomera Inc (ATOM)

[Theo]

Today's Needham webinar was encouraging although I was looking for more. Until I go through the call transcript/video again, I will share my thoughts and impressions from my recollections of the call as I heard it live.

1) Listening to Scott Bibaud explain their (Atom's) position and potential, one gets the impression that he wants to say more. I've noticed and commented on that same observation in the past. These soundbites are what I jotted down on the fly so-to-speak:

a) "Lots of partners in phase III"

b) "...we will eventually be getting royalties..."

{Notice he states we will. He did not lead off with that statement- it was in the middle of an explanation of current revenue and future revenue based on current phase placement (staggered) of their partners (plural) Some partners are further along in Phase III than others}

c) "...when we start revenue..."

{Not if- Again, this was in the middle of a an explanation of how Phase placement affects revenue}

d) "We are working with mostly larger fabs..."

{This was in reference to a question regarding which size chip/wafer were they more focused on.}

One point of interest that bothers me (and is not their fault) is the covid related chip shortage that has forced suppliers (fabs) to concentrate on existing work/chips and not on new product development. Until they (fabs) can catch their breath, they are reluctant to take away resources to develop the "new" product/chips. Of course this is where ATOM promotes their EPI tool and TCAD capabilities which appears to have gained some traction.

Just as an aside, they did again give out Q3 numbers:

$13 million OP-EX
$31.8 million CASH
23.1 million shares OS