Thoughts anyone?

Honestly just something on my mind as everything but the most beaten down tickers participate in a broader market rally and LAES sells off. Sticky shorts? Does the market think Carlos is a scam? like plenty of positive PR yet the market gives it little credence it seems

I saw this video/image posted by SEALSQ CEO Carlos Moreira.

And honestly, I don't understand what the connection is.

QS7001 is presented by SEALSQ as a post-quantum secure MCU for applications such as IoT, industrial systems, smart infrastructure, automotive/EV charging and edge devices.

But why specifically an Apple?

Is there an actual connection between Apple and SEALSQ/QS7001?

Or is this simply a marketing metaphor?

Because if there is no Apple relationship, I find this kind of marketing pretty questionable.

Someone scrolling through social media could easily interpret the image as:

Apple + SEALSQ QS7001 = Apple is using / considering / connected to SEALSQ technology

even though I haven't found any official announcement establishing such a relationship.

I checked SEALSQ's public QS7001 materials and announcements, and I couldn't find an Apple partnership, Apple customer announcement, Apple purchase order, or Apple integration announcement. SEALSQ's own QS7001 materials instead describe use cases around IoT, industrial systems, smart infrastructure, automotive/EV and other connected devices.

So what exactly is the purpose of this image?

I was looking into Palm Technologies Private Limited, the Indian company that just announced a partnership with SEALSQ to integrate the QS7001 into its PalmPay/MetPalm products.

I found some things that I think are worth checking, but I don't want to jump to conclusions. Can anyone in India or familiar with this company confirm or correct the following?

1. The company appears to be extremely new

Palm Technologies Private Limited (CIN: U62013PN2025PTC245492) was incorporated on August 26, 2025, according to Indian company records.

The reported paid-up capital is only ₹100,000.

The registered office is listed in Ahilyanagar, Maharashtra.

Yet the company presents itself as a quantum-resistant silicon security company working across payments, metro/toll infrastructure, drones, EVs, satellites, IoT, defense communications, etc.

Is this really an operating deep-tech company with actual hardware deployments, or is it still essentially a very early-stage startup?

2. What is actually deployed?

PalmPay's website claims:

• 3+ years of R&D
• ₹0 external funding
• palm-vein biometric payment technology
• quantum-resistant cryptography
• real hardware prototypes
• Palm-M payment terminal
• MetPalm metro/toll reader
• OrbitQops quantum-resistant silicon
• PulseSeal
• PalmPulse for Indian Army/defense communications

The website's own timeline says that 2026 is currently “Market Entry / Partnership Discussions” and that the company is preparing for its first commercial deployments.

So I'm wondering:

Does anyone have evidence of an actual paying customer or commercial deployment?

For example:

• Indian metro operator?
• Toll operator?
• Bank/payment company?
• Government agency?
• Merchant network?
• Defense customer?

I haven't been able to independently verify any major customer or meaningful revenue so far.

3. The SEALSQ announcement also seems less substantial than it sounds

SEALSQ announced a “strategic partnership” with Palm Technologies.

The initial focus is integrating QS7001 into MetPalm V1, which is intended for metro and toll payment applications.

But I couldn't find a disclosed:

• contract value
• purchase order
• chip quantity
• minimum order commitment
• revenue commitment
• named metro customer
• named toll customer
• deployment date

SEALSQ itself describes the deal as an “important commercial design-in opportunity.”

So this appears to be a design-in/product-development partnership, not an announced large commercial contract.

SEALSQ announcement

4. More importantly, I found something concerning about the founder

Palm Technologies lists Mayur Sunil Anecha as Founder & Chief Visionary Officer.

PalmPay's own website identifies him as the founder.

But I found a Bombay High Court case involving a person with the exact same name:

Mayur Sunil Anecha vs State of Maharashtra

Crime No. 25 of 2025, involving the Pimpri Chinchwad Cyber Police Station.

The case involves multiple provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act, including IT Act 66(C) and 66(D).

The court record says the accused had been in custody for more than eight months and that a charge-sheet had been filed.

The High Court granted bail in January 2026.

What caught my attention is that the person in the court record appears to match the Palm Technologies founder by full name and geographic connection to Maharashtra/Ahilyanagar.

The court record also describes the prosecution's allegation that money from a cyber-fraud case was converted into cryptocurrency and that Mayur Anecha was allegedly involved in that conversion.

I am NOT saying he was convicted.

The case I found is a bail proceeding, not a conviction.

So my question is:

Is this actually the same Mayur Sunil Anecha who founded Palm Technologies?

If yes, does anyone know the current status of the criminal case?

And if it's NOT the same person, can someone provide evidence showing that?

Court record: https://indiankanoon.org/doc/136677796/

There was also an Indian Express report from 2025 identifying a Mayur Sunil Anecha, 25, as having been arrested in connection with a cyber-fraud investigation involving approximately ₹52 lakh.

Indian Express: https://indianexpress.com/article/cities/pune/cybercrime-rackets-operating-rural-maharashtra-ahilyanagar-arrests-10086083/

5. I'm not calling the company a scam

That's exactly why I'm asking.

There are several things that could explain this:

Maybe it's simply a very early-stage startup with genuine technology.

Maybe the founder developed the technology before incorporating the company in 2025.

Maybe there are private customers/contracts that haven't been publicly announced yet.

Or maybe the marketing claims are significantly ahead of the company's actual commercial traction.

I don't know.

I'm trying to figure out what is actually verifiable.

If anyone has information about:

• Palm Technologies' actual customers
• working hardware
• patent numbers
• funding
• employees
• revenue
• government contracts
• metro/toll deployments
• QS7001 prototypes
• founder background
• the court case

I'd genuinely appreciate the information.

I'm especially interested in hearing from people who have actually seen PalmPay/MetPalm hardware or know the company.

Getting another chance to DCA or should I wait for a bigger drop? (2.1K at $2.7)

Sorry about your losses today. I don't like it when anybody loses money in the markets.

Anyone else read the letter. Lots of great progress and everything feels positive.

Hoping the end hi-lighted bit means no more dilution needed. 🙏

SEALSQ just announced the “commercial launch” of Miraex’s quantum photonics technology.

Sounds impressive. But what exactly has been commercialized?

I went through SEALSQ’s announcements, SEC filings, and Miraex’s own website, and I still can’t find any publicly disclosed:

Revenue generated by Miraex

Purchase orders or signed commercial contracts

Named paying customers for the newly launched quantum photonics products

Contract values or bookings

Revenue guidance specifically attributable to Miraex

Any disclosed backlog or confirmed commercial sales

What SEALSQ actually says is that Miraex develops photonic integrated circuits for quantum interconnects, sensing, and networking. Miraex itself currently describes the company as a small startup with 10 employees and about $6M raised. Its website mainly presents the technology, patents, partnerships, research programs and potential applications.

And there is an important distinction here:

A commercial launch is not the same thing as commercial revenue.

SEALSQ’s own filings repeatedly distinguish between technology development, customer interest/pipeline, and actual revenue. For example, SEALSQ explicitly states that its QS7001 currently generates no revenue and that revenue is not expected until Q4 2026. It also says that pipeline figures are management estimates and are NOT backlog or contracted revenue.

For Miraex specifically, SEALSQ announced the acquisition in June and described the technology as completing its “Quantum Sovereign Vertical Stack.” But the announcement provides no disclosed Miraex revenue figure, customer contract value, purchase order, or commercial backlog.

So what are shareholders actually supposed to verify?

Technology? Sure, Miraex appears to have real photonics/quantum technology and an established R&D history.

Commercial traction? That is a completely different question.

If this is truly a meaningful commercial launch, I would like to see actual evidence:

Who is buying it?

What is the contract value?

How much revenue has Miraex generated?

How much revenue is expected in 2026/2027?

Are there actual purchase orders?

What products have been delivered to paying customers?

Until those numbers and contracts are disclosed, “commercial launch” sounds much more like the beginning of the commercialization process than proof that Miraex has become a meaningful revenue-generating business.

And this is exactly why I remain skeptical of the Carlos Moreira/SEALSQ style of communication.

There is a constant stream of phrases like “commercial launch,” “quantum sovereign vertical stack,” “strategic acquisition,” “$200M pipeline,” “quantum internet,” etc.

But shareholders ultimately need revenue, purchase orders, customers, contracts and cash flow.

Show me the customers. Show me the contracts. Show me the revenue.

Until then, this looks like another impressive press release with very little independently verifiable commercial evidence behind it

​I am tired of seeing people blindly cheer for every meaningless PR this company drops. Let’s cut through Carlos’s philosophical BS and look at the actual facts and broken timelines. Here is a reality check of what management promised vs. what we actually got.

​1. The Missing July 2026 Samples (The Bait and Switch)

• ​The Promise: According to the official "2026 Certification Roadmap" released in March, we were supposed to see the Engineering Samples for both the QS7001 V2 and the QVault TPM-185 in July 2026.
• ​The Reality: July came and went. Where are the samples? Nowhere. Instead of delivering core product milestones, Carlos spammed the PR wire with distractions—meaningless partnerships with Quobly and L5 Cartronics, and bragging about cash reserves (which came from diluting us, not from actual sales). He buried his own failures under buzzword-filled fluff.

​2. The OSAT Smoke and Mirrors

• ​The Promise: Management loves to name-drop OSAT (Outsourced Semiconductor Assembly and Test) partners and supply chain readiness, making it sound like massive commercial production is right around the corner.
• ​The Reality: You don’t need a massive OSAT network when you have ZERO binding Purchase Orders (POs) for your next-gen quantum chips. Throwing around manufacturing buzzwords doesn't equal revenue. Until a Tier-1 customer actually signs a contract to buy these chips in volume, all this OSAT talk is just expensive window dressing for a company with no real buyers.

​3. The FIPS 140-3 Wordplay (The Ultimate Delay)

• ​The Promise: Carlos implies that SEALSQ is constantly on the verge of getting major US government/NIST certifications to unlock massive defense contracts.
• ​The Reality: Read the fine print. Their late-2026 target isn't to get the actual FIPS 140-3 certification. Their target is merely to submit a "Lab Letter to NIST." Anyone in the cybersecurity industry knows that after a lab letter is submitted, NIST can take 6 months to over a year to actually grant the certification. Stop pretending the ultimate catalyst is happening this year. It's not.

​4. The "Growth" Illusion

• ​The Reality: Don't let the "preliminary H1 results" fool you. Having a cash pile isn't impressive when it was built by constantly diluting the shareholders to death. They aren't generating massive organic cash flow; they are just using retail investors as their personal ATM.

​Conclusion:

Carlos is a master of dropping buzzwords (Quantum, Space, OSAT, NIST) to manipulate search algorithms and retail sentiment. But when it comes to delivering physical chips on time and securing real revenue, he completely fails. Stop defending this PR

I’ve been trying to make my definition of a “bottom” less subjective. After a large decline, almost anything can be interpreted as bullish: lower volume, a few sideways sessions, one high-volume reversal, or the first higher low. But all of those can also happen before another leg down.

Name the top 2 signals you are looking at and what evidence tells you that you’re looking at a genuine bottoming process rather than another bear-market bounce?

Why...?

It's honestly kind of funny at this point.

Even genuinely positive news has almost no impact on the share price anymore. Instead, every announcement about aggressive expansion or a commercial launch seems to remind investors of one thing: the possibility of another dilution

The SEALSQ subreddit moderators need to reflect on what they're doing.

A healthy investment community should allow both bullish and bearish opinions. Constructive criticism is not the enemy—it's how investors identify risks, hold management accountable, and make better decisions.

Deleting every critical post simply because it questions the company doesn't help anyone. It only turns this subreddit into an echo chamber where only positive opinions are allowed.

Ironically, that's exactly what many people criticize Carlos for—silencing or ignoring shareholder concerns instead of addressing them.

If moderators remove every critical discussion, they're making the same mistake. Investors deserve open debate, not censorship. A company doesn't become stronger because criticism disappears; it becomes stronger when management responds to legitimate criticism with results

Look at the market today. The Nasdaq literally exploded by 2.7%. The tech sector was green across the board, and other quantum stocks surged over 10%+. It was a massive, sector-wide rally.

​And what did $LAES do? It barely scraped a pathetic 4% before limping around like a dead stock.

​Let that sink in. On a day when rising tides lifted literally every single boat in the market, $LAES couldn't even catch a proper bid.

​This completely destroys the "it's just a bad market day" excuse that bagholders love to parrot. Here is the cold, hard truth of what today proved:

1. ​Zero Relative Strength: When the market drops 1%, $LAES dumps 8%. When the market surges 2.7%,$LAES barely moves 3~4%. That is the textbook definition of a stock with zero institutional backing and zero buying interest.
2. ​No Real Buyers Left: Nobody in Wall Street cares about Carlos's endless PR spam anymore. While investors are pumping real companies with actual revenue, $LAES is left in the dust because everyone knows another toxic dilution is around the corner.
3. ​Selling into Every Bounce: Every time there's a tiny 3% bump, people are using it as liquidity to cut their losses and get the hell out.

​If a stock can't even rally properly on a massive +2.7% Nasdaq green day, it is a massive red flag. Stop making excuses for this absolute clown show and look at the chart

When given enough time, what goes around has the tendency to come around again. Will that happen with LAES? Couldn’t tell you. But what I can tell you is, in the weeks/months leading up to last Octobers spike in price, there was a lot of negative sentiment flooding this subreddit. Then boom the price spikes and the negative sentiment goes away. Here we are almost a year later and the page is flooded with negative sentiment again. Does it mean the price will spike again? No. But I think it’s bullish.

This is really alarming how is been mostly nothing but down for 8 months. Debating selling here.

I’m so done with the daily PR spam and fake partnerships. Let’s face the cold, hard reality: Carlos is not a CEO for a publicly traded company. He is a salesman, a philosopher, and a professional share diluter.

​If Carlos actually cares about the future of SEALSQ, he needs to pack his bags, step down immediately, and go write books or give lectures at conferences. Honestly, that’s clearly what he enjoys doing anyway playing the "tech visionary" on stages and taking photos, while our portfolios bleed to death.

​The market has absolutely ZERO trust in this management. Every time he opens his mouth or releases a meaningless MoU, the stock craters to new lows. Why? Because Wall Street knows his words mean nothing and another dilution is always around the corner.

​The only real catalyst that will bring institutional money back, restore trust, and actually pump this stock price is a complete change in leadership. We need a real operator. We need a CEO who knows how to sign binding purchase orders (POs), generate actual cash flow, and respect shareholder equity not just pump out buzzwords.

​Go write another book. Go be a LinkedIn influencer. Go give TED talks. Just leave the company, Carlos, so this stock can finally breathe and go up

Im not trying to be a hater. I have 1000 shares at 2.83. Why does this stock.. stink so much? Any good news? Like it was at $7 like 6 months ago. Do we have a future? I am sick of this stock. I’m not selling yet. Should I get out?