It's the 1st of July right now and there hasn't been a lot of news coming out of the company, and yeah, no news is good news, as I say. But it's interesting for investors, of course, to get a sense of what's happening with Weebit at the moment and how you're progressing. So we thought it would be a good idea to just catch up with you quickly. But I guess the question that's sort of top of mind for a lot of investors is sort of the lack of news, so to speak. You know, that we would be expecting some additional news flow, say now on new deals, that sort of thing. But maybe you can update us on how things are progressing and what, in the near term, people could be expecting.
Yeah, so obviously there's a lot going on behind the scenes, but I know everyone wants to see announcements, and Weebit announces things only when we actually have things that are closed. So it has been a very busy time for us, a lot of work. It's really one of the things that's happening now in the market, and I think people have been seeing it, it's this big surge in semiconductors in general, and there's just so much going on in this market and the demand is just crazy. You know, we're all used to, in this industry, we're all used to these cycles of, you know, there's the very high level of demand and then people build fabs and then, you know, there's a response to that demand and it goes down. I mean, it's not that the demand goes down, it's that the supply goes up so that it balances, and then after a few years again the demand grows and so on. This time it's crazy. This time it's more than we've seen in the past. The fabs are really, really busy just trying to address customer demand. I've heard unbelievable stories about, you know, fabs that had a customer come in with a check of, you know, a billion dollars, put it on the table and said, 'Here, I'm paying this upfront, just commit to giving me all the chips and stuff.' So the industry is really undergoing this crazy situation, and you can imagine that a CEO of a fab, when he has such huge demand from customers, you know, that's what the big focus is, and, you know, they get good margins now. So it's just a little bit more difficult to get their attention and focus on new technologies, on thinking about the future and things like that.
The good news, the great news, is not a single one of them is telling us we're not interested in ReRAM. You know, they all know ReRAM is the future, ReRAM is where they're going. It's really a matter of, you know, this quote distraction that's causing things to take a little bit longer. But there is progress with quite a few of these guys. We're moving forward. And even with the ones that we signed, we see a lot of activity. So I know people are expecting to hear about more deals, and then we will have more deals. It's, you know, that's the way semiconductors work. But overall, it's definitely been a very busy and exciting time for us.
Well, that's good to hear. And I know you can't talk about individual names, obviously, of customers, but maybe you can, at a high level, give us a bit of a feel for how things are progressing with existing customers.
