Not exactly the news I had predicted. Certain comments in the news release stand out for me:

Peter Copetti's comments on potential partner(s): "While timelines have had to accommodate challenges in our drive to 100-nm, I am encouraged by the significant recent progress, especially in parallel with our PET/TDK achievements. Our potential partners and customers have noted this significant progress, and this has allowed me and my executive team to have very detailed discussions with them under non-disclosure agreements, many of them ongoing at this time."

This to me is encouraging but unfortunately we may not hear anything further on this matter until 100nm is achieved.

Peter Copetti on MS8: "The technical team has targeted the end of the second quarter 2014 for completion of this milestone."

Well we got our answer as to when they now expect MS8 to be completed

Comments regarding issues in achieving MS8: "Among the technical challenges addressed by the team are short-channel effects and the development and implementation of a novel technique based on using a non-gold based contact, without liftoff, to achieve self-alignment. This results in a general digital device format for III-V technologies. Many of these processes have been captured as new intellectual property for the Company by submission of patent applications."

Can anyone with a more technical background please comment on this? I would hope this looks to be only a matter of time rather than entirely re-inventing the wheel?

Comments on PET/TDK: "Moving PET/TDK forward requires optimizing our process technologies and devices using computer-aided design (TCAD) simulation. Specific TCAD efforts focus on complementary hetero-structure field-effect transistors (HFETs) and bipolar transistors (HBTs). This design basis will support complementary HFET (CHFET), bi-CHFET, bipolar and thyristor device fabrication. PET-based electronic devices represent a breakthrough in performance and power efficiency over silicon CMOS technologies, both existing today and on the industry roadmap. PET/TDK models will be available to third parties around the end of the third quarter 2014."

Good to know that other milestones are progressing "in parallel" with MS8 and have not been further delayed (although the wording has now been changed to "around the end of the third quarter 2014")

All in all (i) i'm greatful for an update on where PTK stands regarding milestones (ii) dissapointed over the slight delay with respect to achieving MS8 (iii) intrigued by Copetti's comments regarding potential partners (iv) and glad that no further delays with respect to other milestones were mentioned.

Patience.....patience.....patience......will someday (soon) be rewarded

Sandman