As far as any of us know, nothing has changed. We're still waiting for PL5 and PL6 results. As far as the tech is concerned, we're basically in the exact same spot now as we were 12 months ago. Waiting. Everything else is conjecture and theories of people reading between the lines.
What has changed? The goal post and the poor communication from the BoD. * Moved from proving the memory cells at 20nm getting introductions and hopefully a sale in the next 6-12 months, to requiring a prototype chip in 12-24 months. * Changed from no CR required to CR required to fund a "necessary step" to prototype. * Changed from Interim results in mid-Q4 2024 of PL5 to .... unknown. * Changed from PL6 to be fabricated and shipped by Christmas to Q1 2025 * Change the value of a share from ~$0.08 AMWP to $0.065 that the BoD offered to "sophisticated investors" while keeping retail investors out.
I actually would have preferred the CR to be successful, because now its just a double hit to existing investors. If another CR or SPP was done at 0.065, while the SP is at 0.05, can't imagine it being successful unless they're throwing in options to entice. This is where the BoD need to VERY clearly communicate what the current situation is with PL5, with the future plans with Infineon and/or imec, such as why the contract is only for design. I think it was Flectional who said it was likely to limit risk, which makes sense... but it needs to be communicated. And explain what the new plan is for the CR in January. Still $2.8 million in options in the market that aren't being exercised.
Tech hasn't changed, just the words and actions of the board.
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