Ann: Response to ASX Query Letter, page-34

Let me tell you the time frame. They failed the pilot run and even failed on the test key transistor. They over-etch at the very beginning stage and find out after three months that the wafer came to test the test key transistor. They also find the wafer stress issue and they are trying to find out why. I can say they do not start the second run at this time.
If they find out the wafer stress issue and start the second run, It will take another three months to wafer out. That means their is no wafer out before June. If still has problem, then third run only come out at the end of this year.
AP had no cash to burn, even to pay the employee. They have to issue a loan of at least 5 million to survive through 2024.
Every time they issue a convertible loan, SP drops again and again.

Many ASX companies burn to death, and the holder got nothing.