Ann: Company update and 2024 imec contract extension, page-206

Holders/the market were under the impression based on the past several years of development and communication from the company that the technology would be sold for a significant sum post PL4 success.

This new road map, which includes a PL5 and PL6 pushes a potential sale a further 6-12 months out, leading many to believe that there are no buyers interested based on the PL4 results.

A lot of holders are fatigued after waiting may years for a sale, and many recent buyers who got in post PL4 success are cutting there losses for now, maybe to return further down the timeline.

All just my take of course.