Yeah. The membrane was like a window pane in the plastic cover....

Yeah. The membrane was like a window pane in the plastic cover. The plastic cover clipped over the chip circuit board. No big deal that it popped off when passed around. The chips would normally be integrated into a product and would not be subject to man/woman handling.

On the cap raise, I heard a figure of the order of $50m mentioned which would be <10% dilution, maybe even less than 5% depending how much the price moves on successful demonstration. If institutions provide the capital, other shareholders will need to pick extra shares on market to avoid dilution. Dilution with a high growth stock isn't a big deal. I wouldn't assume a SPP or rights issue will happen given the past methods used to provide capital to the company. There is a clear intention to raise the capital after the demonstrations on the assumption that the share price will be much higher than it currently is.

The capital raised will be used to construct a processing plant to package the MEMs, ASIC and protective membrane. The 3rd party mentioned for cleaning the MEMs uses a different and more cost effective process than currently used by the MEMs fabricators.

The road to billions of chips sold will be long. Please don't expect billions in FY18/19. The industry and consumers will take time to adopt this new technology. Given the dumbing down of audio quality since the introduction of compressed audio, sound bars and Bluetooth speakers, consumers will need to be educated to virtues of improved audio quality. It would be interesting to know how many people with 4k TVs pay the extra for 4K Netflix and also ensure there internet connection provides the 4K bandwidth.

The WAF (wife approval factor) may prove more important given the reduction in speaker/amplifier size! Size does matter!