Proto, you don't seem to make an attempt to ask management any questions. I would not reply on a message board to provide total clarity.
Did you see Odds post? EMP couldn't make a working modulator with Lightwave's material. The end. Lightwave didn't drop them. I doubt they figured this out right at the same time UCB made some progress.
Sean51101 had a discerning post about this and I've copied and pasted it.
"The PR characterizes the EMP effort as a "parallel design program", no longer necessary. Was that your (this board members') perspective when the EMP relationship was announced? Is it possible that such a significant degree of redundancy existed between the two entities, that one was nixed nearly before it really got started? Whether yes or no, either answer is somewhat problematic."