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eMagin 1Q21 results ?3

eMagin has released its first quarter results:

The warrant exercise referenced above brought in $5.1M, and the share count has expanded by more than a third YoY, to 70.3M.  With that non-cash expense, the company lost 10 cents per share.

Management says it has expanded its manufacturing space and received the first of its new production equipment, with more on order.  It says it is within the terms of its government contract, but delivery times are likely a concern going forward.  It will also report wafers, rather than screens, produced going forward, saying that is a more reliable number due to a shift toward larger more complex displays.  That much makes sense, but unless I'm missing something, it obscures yield, which matters greatly.  I'll look for more information in the call, starts at 9am, after the Xebec presentation, even though I'm still not interested in EMAN as an investment at present.