Missed Every Milestone MEMS-Analysis, page-9

All very true VB. But what can we do? SFA.
I also recall being told in a pres how the duration of a wafer build process had been shrunk from around 3 months to around 6 weeks. Very reassuring when we first heard that. But it would have been nice to have been given a lot more explanation and information for each of these delays. We have not been told anything of substance. But again, what can you say or do? I am not happy about the very low information content of every announcement I have been provided with for at least the past 6-7 years, and I have moaned about it many times - including by mail to the directors. My only comfort is that they are all clearly slogging away at it, and clearly are making progress (e.g. EM coming on board, partial structure replacing original structure, cost reductions, GEN-I, soon to be GEN-II, improved flatness and loudness, etc, etc), and the major funder of the enterprise, FB, being continually willing to put in his own cash to keep everything afloat. All of which are good, but not what we should be seeing; namely: explanations to justify and vindicate ongoing SH confidence that this really and actually is as close to fruition as we keep being reassured it is. The point is it's either true or it's not. And if it is not then why is FB still putting his cash into it. Surely, I think to myself, if it were not true why would FB be exposing himself and his assets to massive losses. So I am happy to hold.

But this is now 5 years into my retirement, and I would be pleased to see some genuine unambiguous progress that can be shown to SH as real finished products that work as promised and as expected. When that day comes all will be forgiven.

But if this delayed denouement is also late SH ought to be asking some very pointed questions and demanding and being given some very honest answers.

However, hopefully, nobody will need to be crying wolf for much longer.