The thing that concerned me most today is the idea in Q&A
1) they I’ll only get 10,000 units to sell this year. This is a significant step back from 40,000 chips
2) there has been no increase in the ‘500k pre sales pipeline
3) I don’t know how a delay from March to May is ‘on track’
I came to the conclusion today they will need to raise again and still holding but did lighten position. I thi k there’s plenty of time to build back in a larger position again and right now they are behind where I expected
Ann: March Quarterly Activities Report, page-37
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