I'm also stunned to see the recent trades. I still believe there is a lot of effort to force the stock down in the hope of shaking larger investors loose and gobbling up their shares. I suggest in fact that they are the major target of this stratagem. I note that there are still buyers, and I expect that will continue to be so, so somebody at least has the confidence that they are buying at the right time. I certainly think so. I still have the courage of my logical convictions. Am I worried? Of course I am. Sh!t!ng! But I am also aware that the night is always darkest just before the dawn. If I'm wrong it's certainly going to be a long night for me. But if I am right the dawn will be pretty exciting - and well worth the wait. Good luck to you and to all other holders with bloody fingernails!
Following the 4C of Feb 22 the latest 4C of Feb 23 followed this up by indicating that the first finished MEMS-GEN-II chips had been expected late 2022 i.e. Nov-Dec 2022. All of this was discussed and announced in the 4C of Feb 22, and is well worth a read to see what was said to have been happening then. Had all that happened as announced in Feb 22 we would be seeing a very different SP now I think:
"... It is important to note that at the time this decision was made and announced [Feb 22], it was anticipated that initial receipt of MEMS-GEN-II chips would be in mid to late Q4-22. What was unknown at that time was the impact of the Chinese Government’s attempts to curtail the spread and adverse effects of the COVID pandemic. Policies were changed and extended from week to week, effectively leaving a wide range of industries worldwide without insight or ability to plan and inform. The consequence for the company was that not only had advancement of GEN-II stalled for over 4 months, but EM’s ability [to] supply GEN-I chips had dramatically diminished.
During the extend[ed] lockdown period in China the company remained focused on advancing all aspects of technology it could. As indicated, considerable effort and progress was achieved developing advanced measurement and characterization capabilities which in turn fueled significant advancements of our multiphysics simulation capabilities. Additionally major effort and progress was concentrated on the development and migration of our functional software and algorithms as well as the design, fabrication and testing of our electronics demonstration and reference design systems.
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. ..."
So. The mass production run that was deferred has now been rescheduled to restart from Feb 2. Wafer fabrication was expected to be around 6 weeks, then the chips will need to be packaged. The period of 4 months of lost time is related to the lockdowns, not to the time to make and deliver chips. That probably indicates that finished chips should be received sometime during April-May 23. That fits in with the anticipated start of sales and marketing phases below:
"... Given this as 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. 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. ..."
Given this 4C I expect that we will get confirmation that EM has started mass production as indicated, and also hopefully that their payment has been approved by the Chinese authorities. A date for demos to shareholders should also be confirmed. All of that should be in the announcement on Feb 28. If this is confirmed then the SP will reflect that to some degree. That I expect is what the predatory traders are most motivated by at this point in time. As a result of this, in the interim, I would expect an onslaught on the SP.
Also in the latest 4C is the confirmation of the AGM date 22/5/23. Given that and the fact that the company has prepaid $586k for '10s of thousands of pre-production GEN-II chips', I would like to suggest to all those doubters out there that FB would only have the confidence of chairing this AGM if he was confident, not only of having working chips that work as expected, but also of demonstrating those demo systems to everyone at that AGM. Of course I could be wrong and there will be more delays. But given everything that has been said I doubt the odds on this are great. We'll see what happens then. It's not too long to wait.
(20min delay)