PERTH-BASED technology group Formulab Neutronetics Corp Ltd was set to launch a prospectus for $12.7 million this week, ten years ago, to begin its expansion into the US market prior to listing on the Nasdaq. Formulab executive chairman Tony Richter said the launch would be followed by the introduction of its new radical neurocomputer, which will utilise his unique "neuronetics" technology for machine-based reasoning. The technology is already used commercially in security systems and voice mail. Formulab has ten 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.
© Business News 2018. You may share content using the tools provided but do not copy and redistribute.