4DS Memory becomes a penny stock as company walks away from key tech partners

Share a thought for 4DS Memory (ASX:4DS) shareholders on Friday, who have seen shares fall -70% after patiently waiting for the company to come out of a self-imposed suspension it ordered when it missed its own deadline for a strategic review.

The company is now at an all time low and has dipped below 1c; the strategic review 4DS Memory failed to make its own deadline for related to the overall failure of its microchip technology to live up to standards in the sixth round of testing meant to ultimately verify its potential. Those microchips, the company said, weren’t made in an airtight enough environment.

And the language the strategic review used to explain the fact the company is basically going back to Square 1, after years, with no working product – after the review was finally released on Friday – could also, perhaps, have been a source for ire.

In 4DS Memory’s words: “To remain competitive and to deliver value for shareholders, the Board believes it is in the best interests of the Company to disengage collaborations with imec and Infineon Technologies LLC pending the outcome of a strategic review.”

Pending the outcome of a strategic review – that, written in an announcement titled “COMPANY STRATEGIC REVIEW.”

4DS last traded at 0.9cps.

Join the discussion: See what’s trending right now on HotCopper, Australia’s largest stock forum, and be part of the conversations that move the markets.