Re-reading the report, as if for the first time, one has to conclude that management is now genuinely confident and expectant that around the end of March they will be demonstrating the first fully functional MEMS chips built into purpose-designed and built electronic audio devices.
As indicated several times over the past few years they will not do any demos until they are entirely confident that their high-level demos will "blow the socks off" the audio industry's professionals, the very people they expect will be most critical of, and therefore most critical to, the product's success in this finickity, perfection obsessed market.
"... In response to this finding, the company devised and introduced relatively minor design changes to the structure that bothreturn the spec to compliance and diminishing the sensitivity to manufacturing tolerance. These changes were introduced into the MEMS manufacturing process with deliveries of fully functional devices expected in March 2020.
As we anticipate substantive and dramatic improvement to the acoustic output of the devices, our current plan is focused on having demonstratable technology on or about the end of March. In preparation, demonstration boards and systems are being designed and built by the company.
During the period the company has also advanced other critical aspects of the technology, such as completing development of the metal module for the MEMS chip. Deposition of “metals” on the MEMS chip is required for connection (wire bonding) in the assembly and packaging process. In conjunction the company began runs with its packaging partner in attempt to insure smooth and efficient assembly and packaging of the upcoming chip deliveries.
The company also expanded its testing abilities and capacity. The company is building several additional testing stations. Some of these stations would be placed at the vendors’ facility, allowing them to quickly assess the quality of the produced wafers, while the material is still in the clean room (once a wafer left the fab’s clean room, it is practically impossible to bring it back in due to risk of cross contamination).
Management continues to remain intimately engaged with its future customers, routinely conducting confidential communications as to the progress, potential, applications and demand for its impending products.
Management has also been intensifying discussions with our fabrication partners, reviewing and planning the actions required to transition from development to mass‐production. ..."
So, while there is nothing new in the AR over the previous interim AR announcement what there is there is potentially ground breaking for the company and its stock value.
So now I can't wait for the end of March!
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