Ann: Digital Speaker Development Update, page-42

Like BobF, I have invested in failed ventures before. A couple, sadly, in alternative energy. Again this could be a scam sure, but it doesn't have the tell tale signs of a scam. Fred and Cheryl have too much skin in it. They enjoy the support of Benny and Lee Lau, giants of electronics. There has been no change of purpose of the company. No new alpha CEO with a commanding stature and assuring tone.
The company is being doubted simply because of delays in progress and Fred's refusal to pander to shareholders. Is there a series of embarrassing engineering screw-ups hidden in this announcement? Are all the wafers received reserved for probing? Were some wafers processed further and packaged? We don't know because Fred doesn't mention, because he doesn't need to. And he'd prefer to watch you squirm. He has blatantly said he would have preferred to have kept the company private to avoid even the lowest level of disclosure. Even though I'd prefer to know more I'm actually on his side on this. This is a company that didn't really need our money. So we are effectively piggybacking on the risks and efforts of Cohen, Bart and co.
I'm also well experienced in embarrassing screw ups, and the imprudent use of resources... and in all those occasions I wouldn't be volunteering to disclose more than necessary.
I'll still be asking heavy questions on Wednesday though.