Great analysis. We've come a long way. I have different take. I believe they felt no urgency to have everything running like clockwork. The demand wasn't there. They didn't have the money or the need as even with the busted equipment they could get the small amount of displays neccesary out the door. Their challenge was to develop the displays their customers really wanted (DOD) and limp along in the meantime with the problems you allude too, let TRADOC, TATRC, PEO and the Primes see that they needed help (Sculley said "We NEED the DPA, IBAS etc.) to deliver those displays in order to get the funding they've been seeking since they set up an office near the Pentagon.

The company is now in a substantially much better position with the equipment upgrade. The last few years have been doged by choppy revenues caused by old equipment malfunctions that put the production line at stop. No matter how much maintainance is done over the years, it failed to take care of the problem. This affected over all investor sentiment and I believe created a stock price under valuation compared to (if you want to call them peers). You know who I am referring to. With the very comfortable book to bill and the much improved manufacturing prospects, this is an excellant turning point. The 1.98 M is another bolster. The traders probably did what they always did consistent with how the stock has performed in the past. Sell the high. However, the long story improvement, and don't forget the momentum of the 4k display coming soon with a tier on, should continue to move the stock up. The government has made a huge statement already, by giving money for phase one. Emagin needs to be supported and is a critical part of the supply chain. Military display evolution based on DPD i believe is the long goal, and like Jim said, the 4k prototype should click in gear other moving parts.
Good luck to all of us. I have been a 6 year short timer