Agreed. Announcements are closing the circle of the story around such an eventuality.
There is a lot of stuff in the build up of announcements that are fairly clear in what they imply. There is no doubt that there have been delays and problems. But it is not as if they have been hiding them. Which is what you would try to do if you were trying to con people. They have acknowledged them, all of them, and clearly been surprised to have had any of them and been frustrated and embarrassed as a result. That is not something that happens if you are trying to convince people you've done everything right when you have not, and everything is roses. But it
is what happens when real life gets in the way of a great plan.
But having spelled out a number of things that are coming in a sensible order this gives me confidence that that sort of time frame can now be genuinely expected to be correct. I expect that to others these announcements will simply add more fuel to their conspiratorial fire, but the actual outcomes are the only thing that matters. Not who is or was right. We will know the situation when it plays out in the public glare. There are no prizes for guessing. (Although there are the usual rewards for making a risky investment decision! But hey, them's the breaks!)
i.e.
"... In recent months [they] have achieved significant progress and currently anticipate
being able to begin shipping device characterization wafers from all 3 fabs during the month of August. ..."
"... The Company is in the process of securing
additional short-term funding
to meet its working capital requirements over the next quarter until it is in a position to demonstrate the MEMS GEN-II Chip. The timing of securing
additional funds will also be
subject to market conditions prevailing at the time and is expected to be coordinated with the demonstration of the MEMS GEN-II wafers and chips. ..."
"... The Company’s shares remain in suspension from trading on the ASX.
The Company is exploring the best options for raising capital on receipt of the GEN II chip from Earth Mountain to address the going concern issue raised in the Appendix 4E that resulted in the suspension. ..."
"... The Company is planning on holding its
Annual General Meeting late September - early October 2024 and will release a Notice of Meeting in due course confirming the details. ..."
Taken together in the light of all previous announcements this has to imply that:
- Fabrication is now completed, or nearly completed, in all three FABs, and finished wafers that are expected to be approved will soon be shipped for testing and evaluation by AP.
- The company has the confidence to expect it will be able to access enough funding to get and evaluate these completed wafers and approve packaging into finished chips for demonstration to both prospective customers and to shareholders at an AGM.
- It is implicit from these comments that doing a demo will be sufficiently convincing that obtaining further funding is expected to be relatively straightforward. This also assumes that the next stage of the business (commercialisation) will involve a higher level of expense, and that this will be met by some form of a capital raise. As the demonstration of a working commercial chip will fully re-determine the value of the company as a result, it is assumed that its expected performance will warrant that confidence. Let's not forget that the company has not been sitting idly waiting for some distant event to pop up, but has been in constant contact with the fabricator and will have had many previous samples to evaluate in order to generate such a level of confidence. This will facilitate the de-suspension, which was based on the uncertainty of funding to continue as a viable going concern. When funding is in hand there will be no further reasons for the company to remain suspended.
- We can expect an AGM to be called within the next 2 months, with presumably 28 days notice, and that we will likely be told that a demo will be done there.
Or at least I am hoping that that will the case. Of course
this is all supposition on my part based on my
believing that what we have all been told in the various announcements to date is based on the true state of affairs. i.e AKP has been telling us the truth.
(20min delay)