Edgewater Wireless Systems Inc V.YFI

YFI mgmt, get on with it

[lscfa]

What's taking so damn long? Others can get a chip done quickly with very little money....

 

SPARC AI CLOSES PRIVATE PLACEMENT TO DEVELOP AN AI MICROCHIP

Sparc AI Inc. had received oversubscribed demand and closed its private placement offering of 3,389,777 common shares of the company for gross proceeds of $371,875. The offering was completed at 11 cents per share. All securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws, April 9, 2024. No finder's fees were paid with connection to this non-broker private placement.

The private placement was oversubscribed with strong demand from accredited investors. All directors of the company have supported the private placement by taking 44 per cent of the allocation. Anoosh Manzoori subscribed to one million shares, Justin Hanka subscribed to 72,727 shares and Anthony Haberfield subscribed to 403,927 shares.

The funds raised will be used to embed the Sparc patented code and algorithms into a microchip. The development will take approximately four months to complete and result in the company launching a powerful geospatial artificial intelligence microchip that can be easily installed on drones for security, surveillance, search and rescue, and reconnaissance activities. The development of the AI microchip will be carried out by a highly experienced engineering firm and Sparc AI will retain all intellectual property rights to all existing and new code, systems, processes and know-how.

[leodevoe]

Clearly you must own shares in this pig.  They have a market cap of $1M. The raise was just a shade under what Yfi raised. They say they are building a chip, but all they actually have is some code and algos. I guess designing the chip to hold this amazing IP will be child's play. I think there's an app on the Apple Store to do just that in fact.  And no doubt there are company

[leodevoe]

Piece of advice. Don't go down rabbit holes. I’m really bad at doing this. Anyway, the point. 8 months ago your little chip company wasn't in chips. Nor AI. But their failing biz lost its biggest (in very relative terms) account and did what every .V company seems to do. They looked out into the market and decided they were now in that business everyone is talking about. They are hip and

[leodevoe]

Sorry I failed to mention that it was under 2 years ago the company launched its Smart Drain solution, which I’m sure at the time seemed like a lock to go global. Unfortunately it didn't get much traction so they changed their name and pivoted to Cloud Connect, which failed also, and now it's on to being a chip dynamo. Which is curious because in the past 4 years they have spent $0 on R

[digital130]

I like bbq chips personally.  My only other question is what makes a person spend 5 years on a discussion board that has no interest in the stock. Take care lendoveo

[Pandora]

And with 5 minutes to the close Anonymous picked up another 300,000 shares at 5 cents. Probably did not get Leo's advice. I know --- it's only a $30,000 day. Peanuts in Leo's world.