Question - Why does Dave believe that hitting yourself in the...

Question - Why does Dave believe that hitting yourself in the head with a hammer is the best way to cure a migraine?

Thoughts on today's announcement :

1) It's not an "update" if 90%+ of the content is cut and pasted from the last update. It's a PTSD-triggering recap.

Shareholders do not need to be reminded again of the events of the last few months as we have the share price for that.

2) Just tell us :

• IMEC discussions concluded ( - progress)
• awaiting proposed 2023 imec agreement - including timeline, scope, etc ( - there is a path forward / imec committed)
• Expect to be able to share at AGM ( not perfect but ok what is a couple of weeks when you have been waiting years)
• Company remains fully funded to undertake the above activities in 2023 ( - at least no capital raise this year)
• Bonus : encouraging words from Drs. Wilbert van den Hoek ( - help shareholders sleep better)

Score : 4.5 smileys out of 5. The equivalent of taking a handful of panadol forte.

3) Phrases like "Alternatives to the current etch process will be explored in parallel, as the probability of a successful optimization of the etch process is unknown" are just alarming & should not be repeated.

I would expect the exact probability of success to be unknown, however, how this reads is the Board has no idea at all of the probability and is desperately clutching at straws. Surely you would not proceed until some level of probability is established. Otherwise, get the board to take a road trip to Vegas and put everything on red.

Try writing it this way: "To increase the likelihood of a successful platform lot, we will explore in parallel a number of alternatives to the current etch process".

Howard, can you please help Dave to relieve the pain?