Ann: $10m Placement, page-48

Very droll.  

You could be right about there being managed arrangements between big investors, but I am not persuaded that the chip has to be faulty to account for the lack of news.  

I would just as easily conclude that the chip does work and that they are completing any evaluations they need to do before they disclose the finished product.  I imagine that as soon as they are confident that the actual chip is properly functional (i.e. plays complex music at the quality required) they will have to ensure it is consistently manufacturable on different lines and by parallel processes, and it will need to be thoroughly characterised for a wide range of applications, before they can announce it as a fait accompli to prospective customers.  Customers will want to be absolutely sure of ongoing continuity of supply of consistent quality before they will accept it as commercially "real". AP will be fully on top of every constraint their customers will demand before they shoot off the fireworks and start a song and dance about the chip being "ready".  I know I would.  

I also cannot imagine that any demos would be scheduled to coincide with Xmas / NY, even in Israel.  Most of their potential customers will be on holiday in one way or another.  The announcement of a finished chip may come to us couched in conservative optimism, with a careful eye on how the timing will affect share price, but the launch of demos will most likely be done at a time that everyone can, and will be be happy to, get on a plane and go to Israel to attend. 

As for Fred wanting shareholder approval to buy his shares at a lower price than agreed and contracted.  No comment.