Green88: Another point to take from the Jan 8 nr is that the "Deployment of the new tool will drastically reduce prototype fabrication cycle times...". This is consistent with the MD&A statement regarding the malfunctioning equipment saying, "This delayed the team's progress in the last 3 months." Their progress was not halted because they still had other equipment to work on, as well as the 3rd party fab, but they weren't able to advance at the pace they were expecting.

Agreed, Green88! The phrase "next quarter" in the MD&A might be suboptimal, but with some very basic arithmetic it is easy to deduce what is really meant.

The latest timeline for the milestones was end of March. Since the sputter tool didn't function properly, work has been delayed. We have not been told how large or small that delay was, but it was for sure not larger than 100 %. That means that in the worst case they had a delay by 3 months. Now add these 3 months to "end of March" and the result will be "end of June".

And please note that this is a calculation for the unlikely worst case only! If they had a delay of, say, 50 %, the milestones would be half through now – or half of the milestones, i.e. one of the two.

I'd not be surprised too much if the ring oscillator (having a bigger impact than the VCSEL) is already done and is being tested by a "multi-billion company". Could it be said company gave green light for a partnership between April 1st and 7th, leading to cancelling the BNN interview?