Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-25

They are a technology development company working on a new format of memory chip, they have had major breakthroughs in their most recent generation chip. It has tunable retention, duration characteristics, has very quick read/write characteristics and it consumes significantly less power than current memory chips.

They have two sets of production test lots scheduled for this year to complete the development and then they have a technology worth billions. Their "revenue" would be R&D rebates only.

Their valuation would be based on a probability of success at this stage; their previous test lot was a success, they're running an iterative cycle of production that makes continuing success quite likely. I'd say the market is estimating them a 10% chance of success whereas I think the actual probability could be well over 50%.

If successful, they have "storage class memory" and the potential valuation is billions and billions DYOR.

It's binary and speculative, with a lot of risk. I'm free carried over there.

Here at LDX my break even price is just about bang on 8.0 cents - I think LDX is no longer binary, we've got two/three different business lines that each support valuations that are multiples above our current market, and I look forward to how it plays out.