Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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Message: Technical Issues with new equipment - possible delay?

"Beyond purely technical issues, the UCONN team had to deal with significant issues related to a new piece of equipment installed in late 2014 that was malfunctioning. This delayed the team’s progress in the last 3 months. The issue was resolved in the last week of March 2015 with the root cause identified as an inappropriate installation by a third party. Appropriate repairs to this equipment have been made.

The team is confident to complete the three milestones over the course of the next quarter."

Why didn't they tell us this sooner especially since the corporate presentation containing the milestones has been updated a few times since. I thought these milestones were being completed at the third party fab? Is this not correct? It appears from the above text from the MD&A that the work was being done at the UCONN lab.

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BAE
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