Ann: Company Update, page-114

There is a perception that this expensive cap raising confirms that management do not expect substantial revenues for some time. In particular, they apparently do not expect too many of Telink's alleged 100M per year chips to include ADRC in the short term.

There is also a perception that the two MOU's are not going anywhere. After all, the recent roadshow preso and today's company update imply that quite strongly. It seems that the Intel partnership has come to rest at the 'general membership' of the IoT Solutions Alliance (remembering that there are 150 'invited' members of the Alliance who are currently ahead of Xped in the pecking order). As well, the Nasdaq chippie Mou - probably with ST Micro - appears to have 'terminated' with embedding on ST's demo kits.

Until these perceptions change there will be SP pressure.

Bottom line - it now seems the roll out is going to take far longer - and be more precarious - than many originally believed, including myself.

Still significant potential in the longer term - but with the probable reality of much longer timelines.