4DS - Anything but Charting, page-31299

Exactly right Dim81

PL5, PL6 are not products in the sense that can be mass produced and sold. They intend to demonstrate a process that works in a commercial fab and have statistics on performance that give confidence to a memory manufacturer that, "yes, we can scale this up inside a new product we intend to bring to customers, and it will work as expected."

That saleable product will require development. It won't be as much of an experiment as what 4DS has gone through with IMEC, but decisions on fab acquisition, where the application is, will all be made by someone who deals with manufacturing and selling chips.

4DS are chasing a liquidity event. That is, sale of the company or sale of licence(s) with a lump sum attached. However that happens, 4DS won't be in the driver's seat when it comes to the subsequent development. The company just doesn't have the resources or knowledge to do product development and distribution. I expect Ting will be in a set of golden handcuffs. Someone at IMEC might be offered a sweet new job. But 4DS will probably no longer continue as a listed entity on the ASX. The lump sum payment(s) will pay out the bonuses and the remainder will be distributed to shareholders.