Nuheara (ASX: NUH) – a leader in smart hearing technology
COMPANY SCOREBOARD
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ABOUT COMPANY
Nuheara (NUH) (http://www.nuheara.com/) develops and commercialises multi-functional intelligent hearing technology platform worldwide that supports and augments varying degrees of hearing loss. It offers IQbuds MAX, the hearing buds that combine high-end headset technology and meet the needs of those with mild hearing challenges; and IQbuds PRO (yet to be launched), the hearing aid that is designed to support adults with higher (moderate) levels of hearing loss. It also partners with HP and manufactures OEM products.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| NUH | 0.081 | 235775757 | 19097836.317 | 4.9/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 3810 | 56.41% | 49.52% | 3.25% | last raise $3.9m@13c; pre raise $4.4m@14.5c |
In Feb 2022, the company failed to raise funds at 1.6c (prior to consolidation), In March 2022, it announced 20:1 consolidation. In May 2022, the founder steps aside, and the company appointed a US banker as the CEO, and commenced exploring US listing alternatives.
Two founding directors’ wages are excessive to the market cap and revenue.
In April 2023, the company made a significant corporate re-structure seeing more people promoted than sacked.
BUSINESS
In November 2022, the company received FDA clearance for self-fitting OTC hearing aid, thereafter, it launched HP branded hearing aid device “HP Hearing PRO”, which will be sold in Walmart and Best Buy stores from October 2023 at a reduced price of US$499.
SUMMARY
The company will need a substantial cap raise to commercialise the new HP PRO.