I noticed this in the risks section of the MANAGEMENT INFORMATION CIRCULAR, page 13. Emphasis is mine in the third paragraph.

We have agreed to divest our major operating asset, have adopted a new “fab-light” strategy, and plan to focus on the Optical Interposer as our main business, any or all of which may have a material adverse effect on the results of our operations, financial position and cash flows, and pose further risks to the successful operation of our business over the short and long-term.

There are substantial risks associated with our proposed sale of our DenseLight business located in Singapore and adoption of a “fab-light” strategy, including the immediate loss of all or a substantial part of our revenue, the loss of control over an internal development asset, and the loss of key technical knowledge available from personnel who will no longer be employed by the Company, some of whom we may have to replace.

We have some previous experience with managing development without an internal development resource under a similar “fab-light” strategy which was not successful, and there is no guarantee that our new approach to operating a company with our chosen strategy will be successful. Further, our strategy will be solely dependent on the future market acceptance and sale of Optical Interposer-based solutions, which are not yet fully developed and which no customer has yet adopted in a production product.

Of course the interposer is potentially customized per application so it is always under developement so not sure if we can derive much from the statement. It is clearly addressing the current state of the art though.

I was hoping for Global Foundries or another "household name" rather than a cloaked Chinese consortium buying Denselight.

Let's hope for some gains on Wednesday.

Turt