I was there on Monday with 2 investors (a tech specialist). They have had discussions before with Poet. They felt in their prior discussions with Poet that the executive did not have a clear picture for how they would go forward and monetize the product. My arguments were that Poet probably couldn't disclose too much to them because of confidentiality issues. They were not impressed with the presentation nor PC. They liked what they heard from Dr T in the Q&A. My opinion is that PC and the executive need to step back and rethink how they are going to do the commercial side of this. PC needs to get his stuff together. His answers were signs of a mickey mouse operation rather than a company with a unique product that has the bonifides and that they are trying to move forward into a dominant market position in a $350 Billion/year market. If they have the product that they described and there is only one POET then stop bragging about having $11 Mil in the bank and your low $300G/month burn rate. Get the resources and people you need to get the negotiations completed. This could be done under contract quite quickly. Negotiations with multiple parties in parallel is complex but it can be done and done well if you get more resources on it. If they are where they are on the prototypes what is the issue? They are thinking too small. Yes you want focus but not at the expense of credibility. They are thinking too shallow or maybe they aren't stepping back and getting a proper focus on other options to go to market. For some silly reason they may have concluded that they have to work with the resources they currently have.
