Re: Financial Statement just released on Sedar

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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Optimus Rhyme

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Re: Financial Statement just released on Sedar

in response to

Financial Statement just released on Sedar

Optimus Rhyme

posted on May 03, 2016 09:16AM

Thought this was interesting. I wonder if the May 2017 was a typo, meant to be 2016?

PREPAIDS AND OTHER CURRENT ASSETS

During the period, the Company made an advance payment of $500,000 under a Development Services

Agreement ("DSA") to Denselight Semiconductors Pte Ltd. ("DLS"), a Singapore Company, to perform

testing and characterization, reliability testing, design system enablement and packaging. Under the

terms of the agreement, if the scope of the work is not performed over the term of the agreement, the

Company will have a claim against certain assets of the DSL. The agreement expires on May 1, 2017.

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