We don’t know 100% that the loan was to Silorix. A link was passed around a while ago showing Silorix received about 600k in funding about the same time LWLG entered into a loan agreement. Looked pretty clear then.
Further investigation showed that the 600k Silorix is known to have received came from a government program - don’t have that off the top of my head.
Anyway - here’s my theory I posted on Reddit about a month ago:
“Now, the loan. This clicked for me only today and is just MY theory. I think the loan was made to Silorix to order X amount of wafers from X foundry using the LWLG/foundry PDK. This was after considerable, unannounced development between LWLG/Silorix/Foundry. Early LWLG/Silorix devices were created together hand in hand. This $600k loan funded the next step of independent larger-scale production with LWLG providing nothing but the material and design know-how. I’m guessing a foundry delay (completely normal) is what caused the delay of getting an updated LWLG/Silorix device shown off at OFC.
The timing of the September ECOC paper that was likely completed in August, the early September loan, and the typical foundry turnaround time could put delivery around now.”
I will say I was hoping to have that loan convert to equity because then we’d know what was going on.
The company knows shareholders are itching to know why LWLG lent 600k to another company. So, we’ll hopefully find out in a few weeks.
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