Sometimes a quote bears repeating. So I repeat my quoting of Danny Lewin's answers to my questions about AKP's relationship with EM at the 2023 AGM:
"... Thank you all for taking the me to atend this year’s AGM.
In an effort to leave as much me as possible for demonstration and Q&A - I will limit my opening comments to highlight a few noteworthy events that have already been disclosed in our published reports and announcements.
The first such event involves device fabrication.
Our current MEMS and packaging vendor EarthMountain, permited us to reveal that over the past year or so our ongoing collaboration activities included expanding their production capabilies and capacity. EarthMountain has been able to secure two additional MEMS fabrication facilities, both of which utilize an 8” wafer platform which as reported provides a substantial increase in production capacity while deriving considerable benefit from utilising newer and higher precision equipment. Additionally, and of significant importance is the redundancy gained by having our wafers produced at multiple and independent facilities.
The aforemenoned activities required and continue to require substantial investment by EarthMountain, estimated in the many of millions of dollars. I am aware of at least some of the yarn spun on various social media platiorms offering dubious tales concocted behind the veil of anonymity. So let me be factual and definitive:
- There is little “daylight” between AudioPixels and EarthMountain. We are confident in our relationship and enjoy very close collaboration and cooperation on all material technical and business matters.
- All, and I emphasize ALL - intellectual property whether patented or otherwise, pertaining to our revolutionary digital sound reconstruction platform and its implementation, was developed by and is the exclusive property of Audio Pixels. To the very best knowledge, there is no other party in the world including EarthMountain, that might have any legimate claim, to any aspect of our technology.
- While the specific terms of any third-party agreement must be kept in confidence, Management considers the very existence of such an agreement to be “material information”, and as such, promptly informs the market of its existence and its material content. If management has not informed the market of an agreement, whether involving intellectual property, fabrication, sales, marketing, distribution or otherwise, then rest assured that such an agreement does not exist.
4. We have and continue to update the market, with the best information available, including as it pertains to the $3m dollar placement that was commited by EarthMountain in our prior financing round. As has been informed EarthMountain has so far been unable to settle its commitment apparently due to tighter and far more stringent controls exercised by the authories responsible for regulating and approving foreign equity investments by Chinese companies. EarthMountain continues to repeatedly advise of their unwavering commitment to making investment in AKP, and are in the process of re-submitting their application to the authorities in the hope of attaining the necessary approvals.
It has been said that the natural tendency of humankind is to express skepcism and doubt about all things good, while immediately believe that all bad things are factual and true. The reality is that management is occupied 24 x 7 trying to invent and capitalize on what I hope you too will soon agree, is a truly a groundbreaking revolution in sound. I ask your indulgence to apply equal measures of skepticism when assessing information that doesn't originate directly from the company - as we have neither the time nor bandwidth to deal with the tall tales spread on social media. ..."
As we go down to the wire on the road leading to the arrival of finished chips I think we all need to bear all such statements by the CEO of the company in mind. It will undoubtedly all be revealed in due course. DYOR GLTAH!
(20min delay)