Ann: Integration Stage Update, page-62

Just to add to my last posting, the Annual Report is expected towards the end of this month, with the AGM coming up in May. I expect there will be plenty of searching questions raised there! The 25/1 statement indicated production MEMS devices with the mods built in would arrive on or before 31/7/17 from two supplying FABS. I.e. that will not happen until after the AGM. However I doubt that the developers will have been sitting on their hands while these processes unfold. So I think we can expect some fairly clear and hopefully definitive statements coming in both of those events as we approach that announced date.

While there can be no definitive answer on the finished chip until actual finished chips become available, I expect that (and hope that!) we will get some favourable and reassuring updates in the Feb report. What I then consider likely is that as the disappointment sentiment of Nov-Dec begins to weaken, bidders are likely to start taking renewed interest in the stock, and the SP will respond accordingly. However, having been disappointed once (at least!), I expect that the SP will rise with more caution until the final chip is actually announced and gets sent out to prospective customers.

So, as I will be on vacation late Feb/Mar, I will certainly be taking my iPhone with me!