Ann: 4DS Technical Update, page-102

According to the announcement, the re-etching will be finished early 2022 - a 3 month delay on the original timeline - the platform lot will then be completed in the second quarter. The whole process including testing should complete around pre-July 2022, and this is evidenced by the commitment to paying only the first seven months of the agreement fees - ie. up to July. So they are expecting to be finished by July.

Extending the Imec agreement for 12 months allows for unanticipated issues or additional research based on the outcome of the third platform lot. It matters because whilever the agreement is in place a sale of the company will result in up to $5m being paid to Imec as its share of the partnership in lieu of royalties. Once the agreement expires this is not due. The amount is not material against the anticipated value of the business after the third platform lot is successfully tested.