Earth Mountain almost there, page-28

As you point out:

"...We know there was an issue with noise in the reproduced sound, so it's certainly not perfect. --- and yes, you are realistic to say it 'still doesn't work as stated/intended' in so far as the end goals of mass-produced chips, industry-standard testing, public demonstrations and sales to OEMs are all not yet achieved. ..."

I stress the word was in your comment, because this is undoubtedly implicit in the actual announcements, and should not be overlooked nor rejected as unrealistic or untrue.

The state of play as announced was that the physical mods of GEN-I moving to GEN-II made measurable improvements in the sound, and that new software's adaptive features have also been implemented and tested on GEN-I chips in order to provide two ways of eliminating the noise.

"... Also included in the production version of the chip [GEN-II chip] is a refinement to the electromechanical characteristics of the structure that permit us to apply a software-only solution able to contend with adverse acoustic effects resulting from reasonable inconsistencies in the manufacturing process. ..."

This was done because:

"... During our extensive work with GEN-I chips we discovered that during music play an audible high frequency component (for lack of better word “noise”) was produced when reconstructing certain frequencies. ..."

"... Industry methodologies involved in mass producing semiconductors indicate that overtime such variances can be drastically reduced if not eliminated, nonetheless the company decided to explore other possible means of negating this problem. The innovation ultimately conceived involves expanding the electromechanical characteristics of the devices, that when combined with a proprietary software-only approach provide the capability of rendering any such noise inaudible. This solution which has been tried and tested on our prototyping platforms (MEMS GEN 1) has proven to offer the sought improvements to the clarity of sound even though it cannot be fully utilized without the electromechanical changes incorporated in the mass- production version of the chip. ..."

So the GEN-II chip has both software capable of optimising the sound output and physical modifications that tie in with that software, and together these are designed and expected to eliminate the problem.

I suggest that this indicates clearly that management now has every confidence that the noise issue is sorted, because on that basis they ordered significant quantities in a first production batch.

They were expected 'during April' but this appears to now have been delayed to 'sometime in May'. At least we have been told this in advance, so there will be no outcry when nothing shows up this month.

(Prelim AR)
"... Given this as well as the rather massive investment EarthMountain has made over the period 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. [i.e. from June onwards] EarthMountain’s current forecast is that it will be able to commence delivery of chips incorporating MEMS GEN II sometime in April 2023, enabling the company to commence customer and shareholder demonstrations shortly thereafter. ..."

(Final AR)
"... Earth Mountain’s is forecasting that it will be able to begin delivery of MEMS GEN II sometime in May 2023. Upon arrival, the chips will undergo characterization to ensure compliance with our specification. This is required not only for usage in demonstration systems, but to also enable Earth Mountain to calibrate mass production processes. Upon confirming compliance (within reason) the chips will be incorporated into existing GEN‐I demonstration systems. Management will further update the market a) upon receipt of the chips, b) upon reaching reasonable conclusions resulting from the characterisation activities. ..."

We eagerly await both those confirmations and confirmation of demos to holders. I imagine (and hope!) that everything possible will be being done to show a demo of production chips in demo systems at the AGM.