Ann: Q4FY19 Activities Update and Appendix 4C, page-58

This was always coming. I took a calculated risk that the 28nm announcement would come before the CR which looks to have backfired.

my guess is they will go to SIs using the 28nm as a carrot, hopefully for only 4m so that dilution is at least kept to around 10%.

What becomes frustrating in all of this is that if that CR doesn't go to shareholders we are going to have a second obvious price lid when the 28nm announcement comes out.
It will then likely take 28nm plus partner news to break up past the $1 mark.

i don't think calls of a lifestyle company are well founded. The majority of the board are already filthy rich, and it's pretty clear to see exactly where the money is going. Unfortunately creating a new tech requires ongoing investment, that's the nature of the game.