Ann: Q3 Update Presentation, page-126

The excessive commentary about the quality of the presentation is understandable. For me, however, I am investing in this company due to its ability to commercialise Akida. I am not investing in this company based on its ability to commercialise PowerPoint. So looking at what was said about Akida, I quote Louis as follows:

"The Akida development has gone exceptionally well ... validation of the functional blocks of Akida is complete. Fundamentally, all of the blocks are working exceptionally well ... We have neuro fabric, we have all of the interfaces, we are now running neuro networks on the neuro fabric which is a great step forward. So it's internal today but we also, as I will talk about in a moment, have our early access partners with their networks which will soon be working with either evaluation boards ... they are certainly working with the Akida development environment".

"Software development is a very very big part of what's necessary for us to have a very commercially successful product. The neuro fabric, call it run time application, it's under test right now ... as well as the device drivers. We did announce recently that we have a team that we are assembling in Hyderabad, India which is developing the software for those device drivers".

"EAP customer engagements. We are helping them port their networks to the Akida neuro fabric ... validation is complete. We are running neuro networks. They will develop their own networks. We'll help them in some cases. With EAP customers we'll help them develop their networks and we have enough working parts and boards from our multi project wafer to satisfy all of our EAP customer engagements. So not an issue there. We are working on the production tooling and subsequently the device manufacturing. That will be done with Socionext. That will be done at TSMC ... We'll be doing production development early in the first quarter of 2021 ... the RTL or the design package is being prepared pretty much as we speak".

"I can say that well in excess of a hundred non disclosure agreements are in place. The EAP? We've been a bit selective ... we've announced folks in the aerospace industry, we've announced folks in the automotive industry and there are engagements in the storage industry as well".

"The EAP has actually been quite successful ... and it's giving us the opportunity to engage with Tier 1 manufacturers in all of these particular spaces as well as potential for others".

"It's well north of a hundred non disclosure agreements ... early access program and customers, as I mentioned, covers three or four major industries right now and we're being very selective about those that we engage with ..."

My summary of all of this is that Akida is tracking nicely and as expected. No mention of delays. No mention of setbacks. No mention of being hit with unfortunate or unexpected hurdles or roadblocks. Everything is positively moving. As expected. The finance position is strong and the company won't be distracted by cash on hand issues. For me, I am looking forward to the continuing software development and production development - both of which are current and ongoing. If I was a betting man, I would back the company to get at least some positive outcomes from its engagements with some of the Tier 1 manufacturers in its Early Access Program. I would also back the company to sign contacts with at least some of those organisations who are in the pool of "north of a hundred non disclosure agreements". Why? I think the product speaks for itself. The real question is the number who ultimately sign on the dotted line.