Formulab was founded by Tony Richter in 1995 ahead of its planned introduction of its new radical neurocomputer, which was to utilise his unique "neuronetics" technology for machine-based reasoning. He had claimed the technology was already used commercially in security systems and voice mail.
Formulab had 10 staff working from its US base in San Jose, California and plans to raise as much as US$50 million to gain exposure to North America’s more mature technology stock investment markets.
The company floundered prior to the tech boom and its shell became Foundation Healthcare.
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