I know we've heard rumors about quiet periods several times in the past but man if this doesn't feel like one. It really doesn't seem like Dr. JL to skip an update in the form of a shareholder letter or conference call for this long.

Looking back, we've only gone 5 months between a conference call or shareholder letter once and that was from the conference call in December 2023 (the month after JL was announced as interim CEO and a month before they dropped the interim) and May 2024 which was the first shareholder letter. Since that shareholder letter in May 2024, the only month we did not get at least one PR was in January 2025. We're currently at 5 months and one day since the last shareholder letter and we haven't received a PR yet in August. If we go 12 days without a PR that will be unprecedented for those two things to happen at the same time under Dr. JL's time as CEO and strange for a group that has tried to put an emphasis on better communication.

I think they have until the proxy stuff comes out to request additional shares, so I guess we'll see but with the S3 filing, something feels different.