Ann: Letter to Shareholders & Notice of Annual General Meeting, page-199

Ok, here’s my twopenny’s worth…

We’ve been kicked off our IMEC benchspace cos HGST has ultimately considered what we have to be too niche to continue funding. This has presented a major problem for us as we haven’t reached giga or even megabit scaling yet, so haven’t unlocked the true potential or value of our technology. Consequently we’ve had to scramble to source a new partner (Intel, Micron etc) to continue our development. This new team is now poring over what we’ve got (hence the protracted suspension) with their management telling our BOD that to participate, they’d need a free carried share of our pie in return for their help to commercialise our tech (hence the need for Resolution 4)

…could that possibly be what’s going on??