That is not quite the way I see it. I have been saying some variation of this for several years.
I hold a lot of this stock, for me, so even though I am occasionally critical of the way the company communicates its stuff,
I am convinced they are doing what they have said they are doing, and keep saying. I understand the situation from the perspective of someone in an allied industry who has faced some of the same issues they have faced even if in a smaller way. What they are doing is not easy, especially for a small company. It took a lot of cojones to try to do it, and I am very respectful of that. All I have done is read what they say and think about what it has to mean from a technical perspective. I.e. I fill in a few blanks. I may not enjoy being fed tiny snacks of info, but I get where they are taking me, and I am happy enough with that to invest alongside them.
"... I still think 2022, maybe early 2022,
before they have something that works to specs,
can be used as a component, and
can be mass produced and sold. ..."
What you think or feel will happen is not what they have said is happening, and will happen, nor when.
For a start the announcement clearly indicated that they have the latest versions of the chips ready and packaged and installed in the demo unit.
These announcements unequivocally require that the chips are already capable of meeting their specs, can be used as components, and can be mass produced in their current form.
My take on what has been said is that they are currently tweaking the software options for the demo array to give the very best outcomes possible, and that is exactly how they have described the process.
In the same paragraph they have also stated that production is scheduled for later this year.
"...
As informed at the most recent AGM, the Company announced its plans to achieve production capabilities by years-end. As the company presses forward toward mass production, we continue our efforts to develop and introduce improvements that will improve and enhance the appeal of our technology. ..."
This may well spill over into early 2022 for complete commercial production runs churning out finished product to fill orders, but I believe they are aiming to start the process of mass production this year. This will presumably happen at TowerJazz's factory in Israel.
They are even working towards manufacturing the second product, the simplified MEMS, which has required changes to the ASIC.
"... One such example will be the introduction of our Second-Generation ASIC controller, which is currently undergoing extensive qualification testing, of the added functionality expanded to provide added support for our simplified structure MEMS transducer design. ..."
(20min delay)