The US$10M appears to break down into two parts, all as described in the financial statements, largely quoted in A$ but the numbers equate: the US$400K initial order to validate the production processes, that we are currently waiting for, and that we are likely to see as soon as they can be completed; the US$9.6M follow on production run order that will be paid for progressively in tranches.
My interpretation of this (and of course I could be wrong) is that EM quotes this order not as an order placed with them to be produced for AKP Israel, but by unspoken implication as an order from a consumer electronics customer for the chips that have actually been purchased. That is what they would like the reader to think, I think. There is a bit of incorrect implication in the text over that in my opinion, but maybe that is lost (or found) in translation, as is the case for several statements in that text.
For the record it looks to me like EM is doing its best to promote its own importance in its own market as a home grown high tech local manufacturer and the importance the AP Chip will have to China in the future. Yes I do take some exception to the downplaying of AP's involvement in this chip, but as a marketing positioning practice for its hoped for domestic sales it is hardly unusual. Needless to say AP is not likely to be crowing about the fact that its chip is "made in China"! We will hear the slant of "designed in Israel, owned by an Australiancompany, made in China under license." But the more they manage to sell in China the more royalties AKP receives and the more revenues it will see. What's not to like about that? iPhones are made in China too.
Forgive my ignorance of what has actually been originally said by those posters I have on ignore - and for good reason. Clearly some of the replies here indicate that those posters are determined to find any shred of negative info to criticise if it is even remotely possible. I question their motives for such a position.
(20min delay)