This is meant to be a cheap way to program W27C512 EEPROMs which require 14V erasure voltage and 12V programming voltage... Or basically any other 24/28/32 pin ROM requiring from 5V to 27V programming ...
The capacitor creates a pulse on RESET when D1 goes HIGH The pull-down resistor keeps RESET stable when D1 is LOW Both devices must share a common ground Power each device via its own USB connection ...