Quote from: rxw on August 28, 2012, 10:35:55 AM

Quote from: DutchBrat on August 28, 2012, 10:29:14 AM

Friedcat, is it possible to provide a timeline or a line without time Wink

of what is to happen next ?

Thanks

+1

Was one of the large volume sell spikes yesterday (~4 PM and ~7 PM UTC) you moving to USD? If so, I think we got a pretty good price.

The large volume sell was not caused by us. We sold the 8,000 Bitcoins mainly via btcchina, with some other ways. The international bank wire fee ((2000 rmb + bank fee) for each withdrawal) and the limitation of withdrawal of mtgox made us not choose them. We caught some rally in the middle but not all, and finally got about 535k rmb after the transaction fee (0.3%) and the bank fee (1%). The cost of the MLM mask-set production and the first batch of chips are now secured no matter how deep the BTC price will dip.

We are busy working with the simulation, which is trying to make things 100% right on the design side before taping out.

The line will be:
1. We finish the simulation stage.
2. We do the three things in parallel:
   (1) waiting for the foundry to make the mask and produce the first batch of chips.
   (2) negotiating the final price and making formal contract with the packaging service company.
   (3) produce the first batch of PCBs.
3. The chips are packed and used for making boards.

Stage 2 consumes most of the time, it's about 45-50 days including several days of merging PLLs into our layout.
Currently we have no serious problem of the design, according to first two back-end iterations in this month. Therefore, the optimal delivering time (within October) and the non-optimal delivering time (November) are still expected.

This is not a formal update. I will make a more elaborated one when we reach the next milestone (all simulation done). Hopefully more tangible results could also be given. And we are getting ready for the financial report for the first major payments.

Sorry to all people that I didn't manage to reply in time.