Following the announcement I emailed the CEO, Danny Lewin, querying the fate of the wafers received 31/5. I had understood that these incorporated all of the modifications required to make fully functional MEMS. After receiving these I had expected that the next announcement would state that fully functional chips were now on hand. Yet the announcement seemed to take us back to waiting for wafers that would have modifications built in. I asked Danny for some additional clarification. Danny was most helpful in his replies.
From them I conclude that it is very difficult for us to appreciate the complexity of the web of tasks that make up the production process, and very easy for us to think we can see trouble where none actually exists. While I still think the company could provide more clarity and colour in its announcements that would help us to grasp the significance of the comments made and not made (I am currently waiting for a further reply from Danny on some of the finer points) I think things are definitely now on the home straight.
As I asked for this information as a shareholder and as Danny replied to me entirely in that context I feel it is fully appropriate to share the nub of his last response with other holders here:
".... First let me start by saying that “imminent” is generally not in use in my vocabulary, especially when referring to scientific and factual matters. What I did say that is relevant to your query (and is in fact published in the CEO AGM Address) is the following:
"Our MEMS vendors have begun to deliver wafers, our ASIC supplier delivered working chips, and our assembly and packaging partner began delivering samples of fully packaged chips. All this places us in position to commence the process of testing and integration that is required to produce our product.”
I later added… …"Working closely with our fabrication partner we were able to implement this discovery into the current fabrication process, with wafers containing this innovation expected to be delivered over the coming weeks". (I highlighted in bold / underline the pertinent parts).
My point is that the statements do not require word parsing or “reading between the lines” - we, as we always do, offer the best facts we have at that given moment. Anything beyond disclosed facts amounts to no more than speculation, interpretation and assumption which may lead some to draw inaccurate conclusions that include words like “setbacks”, “flaws” “concerns” etc….
Yesterdays announcement declared that we are finally satisfied with the results of a process that we shared with our shareholders at the AGM – which is why I thought it might be more helpful to you, to redirect your attention toward the accomplishments announced yesterday..."
I thought you would all be pleased to hear this reiterated from the horses mouth.
(20min delay)