"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."

Re-iterates the fact that milestone announcements are imminent! Mentions the fact that the malfunction delayed the team's progress "in the last 3 months" not BY 3 MONTHS. I believe we are VERY close.

Also, Peter's comments at the beginning seem VERY confident to me about their ability to monetize the technology.

Sandman