"This decision was taken by the Board to best enable the Company to conclude its ongoing Strategic
Review, given the impending maturing of its $2.5m convertible note. This convertible note is held by
Realtek Semiconducter Corporation (Realtek) and has a maturity date of 7 September 2024. The
Company is disappointed that it has been unable to reach a satisfactory commercial agreement with
Realtek, regarding the convertible note.
Separately, the Company has yet to receive an executed Commercial and Royalty Agreement,
(Agreement) pursuant to the 17 May 2022 Memorandum of Understanding with Realtek. The
Administrators will continue to work with Realtek to execute this Agreement, which is considered
important to the Strategic Review process."
"to best enable the company to conclude its ongoing strategic review" : a master piece of ambiguity. Does that mean to help the company to complete the review or to cease the review altogether and wind up?
"This decision was taken by the Board to best enable the Company...
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