Rim Semiconductor Company (fka RSMI)

[WHP03]

I suspect there will be very few people who will spend the money to attend NVI's shareholder meeting if the FPGA is not released well in advance of the next SHMtg. I mean, if they fail to deliver on the FPGA in the very near future - they haven't a prayer to deliver an ASIC in 2004, and their stated goal of significant revenues in 2004, which I think is already in jeopardy, will be completely out of the question - unless they license the technology and those plans are all but put to bed as we speak. I have little reason to believe NVI has developed their craft far enough to warrant any such opportunity - but I am trying to think of all available options.

If we don't see any a FPGA in March, or April at the absolute latest - I'd say we're in very very bad shape. The only reason I can thnk of that a FPGA is still not out, given that it's fairly clear it was paid for in advance, is because there is a flaw in the technology itself or the technology simply does not yet exist in reality - today.

Bill