Ann: Company Update, page-22

Great to hear they have a (partial) handle on the reason why PL3 failed - it's the etch and a different etch design appears to be the path forward - no need to go back to first principles on the cell/array fabrication. I don't like the "most likely" qualifier, although I'm also wary of absolute statements.

However, testing the viability of the etch is only possible through conduct of another Platform Lot. That's a very binary outcome. Remember - the current etch made things worse - before, with the oxidation they were able to get some functionality out of PL2.

That's a very different proposition to the PL being the culmination of iterative work, where the PL is the lowest risk stage of the development process at IMEC.

So, it's in my assessment, at this early stage, that the outcome is essentially a coin toss.