CXO888 / any other attendees, page-57

Hi vinneh

Well if you go to one AGM and listen to these guys, then you will probably come away thinking that all is fine. They answer your questions and they sound very positive and all is good. However, I've been going to these AGMs for 5 years now and all of the things that they said originally is now totally different, forgotten, and changed.

eg. Western Digital - we were "engaged and hope to be married" referring to a possible bid by WD to buy us out. Now, when asked if they are likely bidders, it's "they are into flash memory." I guess the engagement is over. Except that someone thought it was a good idea to sign a deal giving them a 20 year licence to the tech that does not expire even if someone else buys us out.

eg. We've done the hard stuff i.e. the science and now we just need to do the easy bit - the engineering. Referring to producing a megabit memory array instead of just memory cells in a lab. Remember how that turned out?

eg. We just need to produce a megabit chip and then the company will be up for sale. Well, now we just need to produce a 20nm megabit chip and then the company will be up for sale. Interestingly, the new chip will have a gigabit's worth of memory cells on it. Guess what they will be saying in a few years time? Oh and imec don't have equipment down to 20nm as yet. What do you think the odds of them getting it right first time are?

For myself, I choose not to believe one word that comes out of the board anymore. Ting especially. He's a salesman. He will tell you anything that he thinks that you want to hear. That's just my opinion, so others can make their own minds up.

Anyway, I'm sure that this post won't go down very well, but you seemed to be looking for other opinions of the AMG, so I finally got brave enough to make a post.

Good luck, but understand the risk.