"... The Company Chairman met with Earth Mountain in a recent trip to China ..."
Did anyone know he was in China? Did anyone know that the EM packaging plant in China was being opened and ribbons cut by our CEO and CTO? Was any of that info on the AKP website? Once again just enough information communicated to let us know that stuff is happening. But what's actually going on behind these actions? That we do not get told. That is fair enough if there is nothing to actually announce. I guess having a brand new packaging plant opened with your product as the first item coming off the line is not actually a material event, but it would have been an encouraging thing to have been told. Both setbacks and progress are important to know as a shareholder.
Here's a possible scenario: . . .
. . . "We need a bit more cash to cover just the immediate requirements, who can we call? We don't want to preempt the (presumably) "imminent" news we will be able to announce later this month (as foreshadowed in earlier announcements) by making it a wider CR. Let's just offer some of the more serious shareholders options on shares at the current price in exchange for cash in the hand. That tides us over until we have something more substantial to say, at which point we could do a CR at market prices, which won't be at $10.84 then. That way we will also let the whole body of SH get in on the action that their patience entitles them to." . . .
That's all guesswork on my part of course, but I would not be surprised if that is the reasoning and the thinking here. But if it is realistic I would certainly hope that the last part is correct too, because, boy, have we been patient! The first class majority passengers have been collectively getting a lot of advantages over the cattle class travellers to date - and that includes Fred himself. I haven't forgotten that the new investors at the last offering got a demo video of the chips playing when the rest of us had long been clamouring for exactly the same thing. And we did not get shown that - until it got leaked. Did we not deserve to see that too? Had we not paid our dues already? Had we better known where things stood and we had been offered shares or options at attractive prices, how many of those new shares would have gone out more widely? Had we known more I suspect that the uptake would have been more widely spread.
Yes FB has carried the can for us all, and we are grateful, but he has also increased his holding throughout the process. And he intimately knows what is happening at the coalface, so he knows the risks and issues far better than any other holder. On the one hand his confidence in the company gives us a very good reason to be reassured that the announcements are believable. But on the other hand whatever the information is that persuades him that the risks are positive, is not provided to the whole shareholding body. In my book that makes our ongoing confidence the more commendable, because it is based solely on trusting in what is announced without the benefit of all that background info.
However to reiterate what we have been told, we can expect finished packaged chips to be available for demo, both to shareholders and potentially to customers, before the end of the year. Let's see how reliable that information proves to be. We have basically 3 weeks to go.
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