Bear with me while I comment on the recent investors’ conference video. I have watched it once, unfortunately it has just been withdrawn from You-Tube (unless someone has copied it and can direct me to it), I cannot watch it again. I am obliged to rely on memory and the comments of others. The withdrawal of the video is relevant; I suspect it is a sensitive issue for all concerned (how very interesting). The conference was at night and, I believe, it backs up the claim that it was hastily arranged and off the cuff. This may explain the rather halting performance of SG. I noted the ages of many of the attendees, this reinforces the impression that the audience were former fund managers. Some questions and facts are begged:
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If the arrangement was ad hoc, why were such a senior team in London, UK?
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London and New York vie with each other as the largest stock exchanges in the world.
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London has the largest financial and commodity markets in the world.
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If they flew in from Switzerland, had they attended a meeting there or was this simply a flight arrangement.
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PC implies the conference was the first meeting to market POET, is that accurate?
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Are they on a wider tour?
Perhaps the best way to proceed is to break down the messages in terms of POET’s progression.
Stephane Gagnon and Technology:
SG outlines the current status of the technology and its markets and is in line with what is already known. He emphasises POET’s power savings, speed advantages, its savings on R&D and manufacture and explains why this is so. I was not aware of any exceptional advance. His presentation was somewhat low key, but like Sulasailor (he’s my brother, he is heavy - The Hollies 1969; 17st. – think of his poor trimaran) given the ad hoc nature of the meeting this is unsurprising and will certainly be more appealing to a British audience than slick hype. He certainly knows his stuff.
Peter Copetti:
He is confident, better than the Empire Club presentation, appears on top of his game. Knows what a good job he’s done - not many venture clubs have the revenues he’s obtained at this stage of their development. Seems to use phrases only seen on this board e.g. ducks lined up. Got the impression we are close to contracts and a NASDAQ listing. Admitted that timekeeping for announcements was not strong but he is dependent on scientists and the vagaries of their art – he is absolutely correct. This may explain the more vague timelines offered on other future developments in the corporate review and latest announcement – 2H2015.
Ajit Manocha:
He adds gravitas to the debate and made a relatively small contribution. I agree that his words imply Global Foundries are not aware of the technology. His experience will certainly dictate that he responds with carefully chosen words in such circumstances. I cannot believe he has not spoken to GF’s CEO on POET and so his statement is part of a diplomatic fox hunt; you know the kind of diplomatic stuff: someone is not a liar, he is economical with the truth.
All in all, I was very encouraged. Remember, they are the senior members of the board of directors speaking in the same conference; we have not seen this before – what a fantastic bit of DD Sunny. One is a money markets man, the others are very senior electronic engineers with vast experience in the higher echelons of a vast global business, one with huge management experience as well. I believe they were telling it as it is, and POET is on track and we are close to important announcements that are lined up both before and after a NASDAQ listing. It reinforces what I’ve believed all along. Great, great news.
David
