Imagine where we would be right now if we have someone leading the company that has actual semiconductor experience.
No matter how people spin it, this is a negative. Offering such a premium discount on the CR (0.065 was literally LESS than the lowest SP in 52 weeks - until now), is indicative of so many short comings.
We now have a plan with no funds to pay for it. Infineon are designing the chip, not fabricating it. So we need at least another $2-4 mil to pay for the fabrication and packaging on top of the design. And they've already stated that this is a "necessary step", so regardless of PL5 and PL6, apparently without this step now we'll have no sale.
SP has dropped 20% for essentially no reason. They could have announced nothing and simply waiting for the final PL5 and PL6 results, which would have had us in a better position and of course a SPP should have been offered to existing share holders. This again demonstrates his pure contempt for all of us that have funded this company over the years. But hey this is just some pittiful $150m $117M company and Dave could be earning millions elsewhere.
They should have stuck with the original plan and time line. Announced PL5 interim results. January release PL6 interim results. Then make up a BS excuse and say "based on the results, we feel to maximise value we need to progress forward into prototyping a test chip and CR is needed to fund this".
Clowns.
4DS Price at posting:
6.5¢ Sentiment: None Disclosure: Held
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