From NonLinear Circuits website:
This module is a voltage controlled PT2399 delay with sync out. The sync is fed to a clock divider and divided down 12 times to 1/4096. There is also a switch to run the clock divider as a regular clock - 16Hz, 8Hz, 4Hz, 2Hz, 1Hz, 0.5Hz, etc or just patch in a gate and use it as a divider with a separate delay module attached. Or use it as a VCO (not 1V/oct) with 12 sub-oscillator outputs (one of which is fed back into the delay section by default).