"... I guess the counter to this is,
what has this company demonstrably achieved since its listing? I don't have any answer to Plooto's scenario/conspiracy either, but
from afarI find it hard to believe that a company could go for so long without being able to publicly demonstrate its flagship product. As the AFR points out, they've been talking a good game since 2013, probably long before that too. ..."
You clearly have absolutely no idea of what this industry is about and what developments have been done so far. I appreciate that it would take a large level of patience indeed to have followed the company for this long without having taken the time to read extensively about the semiconductor industry and particularly MEMS fabrication. However, given that you do not hold that lack on your part is not surprising. Why would you bother to research the product without making that commitment?
AP is not a semiconductor major, nor a consumer electronics major. It is a small hi-tech startup with a huge opportunity and a big vision to eat that opportunity up at a ridiculously low entry cost. The downside of that is that it is FABless and deliberately decided to try to do the job
on the cheap in one "rapid" 4 phase process, from idea to commercial product, without the more usual process of multiple research projects and prototypes. Being FABless and frugal it has had to fit around
paying customer's schedules at the FABs it has used. In the past, going from a design to a finished MEMS took up to 6 months to get a testable product.
This it has done several times, and has shown the results publicly. It should not surprise anyone therefore that the process has been long and tortuous, and there have been unanticipated problems and delays, and especially so when the problems encountered are totally new to the world and nobody has had to solve them before. I suggest you take the time to go back and follow the development process and do the requisite reading before repeating your lack of understanding as misinformation, which is clearly implied by your comments.
As I have said on here before, this is a lot like being pregnant. Pregnancy clearly will always have a result. Sure as eggs as they say. We have had a few stillbirths. Yes. Very sad. But the problem is now being described by the company as a birth that is slightly overdue. That is not uncommon, and is not in itself a problem for those who are circumspect in their understanding of what is happening. I expect FB and DL etc will soon enough be handing out the cigars shall we say.
(20min delay)