I am looking forward to the updates from the company on these statements:
"... In early January 2023, EarthMountain was able to partially resume operations and on that basis as well as the best information available at the time this report is written, it is anticipated that upon the conclusion of the Chinese New Year’s holiday on 2 February 2023, that full operations will commence.
Given thisas well as the rather massive investment made by EarthMountain in their facilities, tools, fabrication and test capabilities, equipment and personnel, management is increasingly convinced that the stated objectives of achieving mass production, and commencing sales and marketing phases can begin sometime in Q3 of this year. [i.e. Jul-Sep 2023]
Management is waiting for EarthMountain’s to confirm resumption of operations and update its production schedules, at which time Management will update the market with a revised schedule for shareholder demonstrations.
Placement to EarthMountanEarth Mountain (Suzhou) Microelectronics Ltd. (EM) committed to take 308,325 ordinary shares ($4,316,550) at $14.00 per share in the placement announced on 24 August 2022 subject to receiving approvals from Ministry of Commerce and the State Administration of Foreign Exchange to settle their commitment. The Company announced on 30 December 2022 that EarthMountain had yet to receive the necessary approvals from the Ministry of Commerce and the State Administration of Foreign Exchange in China to settle their commitment. While the approval is not believed to be in jeopardy, given that there is little informative visibility into this bureaucratic process, it is impossible to predict an accurate settlement date. The Company will update the market as soon as new information is available and in any case by 28 February 2023. ..."
So,
1.) we can expect to hear confirmation that EM has recommenced operations on AP MEMS chip fabrication, and that will allow the company to know when finished chips will be ready, and this will allow the company to announce to us when planned demos can and will begin, including demos to SH.
2.) the implications of these announcements will make clear when sales and marketing of finished products can begin.
3.) we will get an update on the share purchase payment progress on or before 28/2/23.
Despite all the howls of naysayers determined to pick holes and discourage current and prospective shareholders we have declared and measurable information to track the company's expectations by over the next few months. We are unlikely to get any significant news other than these points. So that signals a patient wait for at least a couple more weeks.
Are these promises that cannot be broken? I would not go that far. I do not deny for one minute that there has been a long list of failed deadlines and broken promises, or at the very least expectations that have been dashed. But my (personal) belief is that the intention has always been there to do and perform what was promised. But problems that were (naturally) unexpected have got in the way, and let everyone down, company management included. These were real delays, caused by real problems, pure and simple, and were always a possibility. But work has been done to find them and fix them, one fault and problem after another. At some point all the problems will have been overcome. To conclude otherwise is not reasonable, in other words endless pessimism is largely sentiment driven, not fact driven. i.e. the boy cried wolf too often and then nobody is willing to believe him. To their own detriment.
In this announcement the company is essentially saying "We are confident now that we have solved the technical problems. We are confident that the financial problems are on track. We are confident that COVID will not trip us up again before we have products to show."
SH can make of this whatever they wish. DYOR and GLTAH.
If this is too long winded for some peoples concentration spans, you have my permission to not read it.
(20min delay)