agree - they clearly had strong conviction to say they could do...

agree - they clearly had strong conviction to say they could do this in CY2021. maybe their joint development partner was leading them to that timeline, but recently has asked for more detail (i.e. catalyst for trading halt).

we know suitors (WD, Samsung etc) exist so that market is established. This is the market that 4DS is selling thier IP to (they're an IP company after all). The market that doesn't exist is yet the ReRAM market, which is where the likes of WD / Samsung will need to play in the future.

so my theory is it's a variation on "d" which is - getting close to the end of the original planned timeframe 4DS had meeting with HGST who said "this bloody is game changing, what is the best config for us to use it?"
4DS: "depends on how you want to commercialise it"
HGST: "what happens if we change this config and how bad is that issue from 2PL?"
4DS said "don't know yet about config, but we can find that out. Easily resolvable - etch mask".

they said - great go and show us... Which I guess is the pergoative of the joint development partner.

maybe a bit of "c" in there too - maybe 4DS thought they could roll straight from 2PL into 3PL (and that approach would have been agreed with joint development partner. but the recent change of approach was requested by joint development partner so they can have more clarity in how to sell it in the ReRAM market they want to create and this has pushed the timeline out...


cant see "a" - every product being created for the very first time does not have a market to exist in... That's the courage of invention, they're scientists and engineers proving an idea, and in now the final stages now they're helping a commercial partner work out how to commercialise it.

cant see "b" - the ASX is not the market they're selling to, so the market annoucements are really about compliance obligations and keeping shareholders up to date (but not to the same level as JDP). Those ASX annoucements are waaay less detailed than what's going on with the joint development partner... If we see JDP bail, that's the indication that it's failed / deception has been taking place.

just a theory