After some time digesting last week's news, and reading some very insightful notes here, I have to believe there is much more going with Poet than meets the eye.
They announce, almost as an afterthought, that they have formed a “Technology Roadmap Advisory Board”comprising of Dr. Geoff Taylor, Ajit Manocha, and Tony Blevins. Seriously? Did they really form a new “board” to advise the Board – with only one member of the TRAB that is not already on the Board? Are Taylor and Manocha not already advising the Board since they are on the Board? So Blevins of Apple fame (not mentioned in the release) is the only real addition to the Poet fold?
Come on..........Blevins is there for a very specific reason or reasons. My guess is Apple wants in. Driven by their fairly solid balance of fear and greed, they have no intention of being left behind – or even being second in. There is too much at stake. Apple wants to know more. Everyone is having difficulty putting a true valuation on Poet due the disruptive nature of the tech, so lets get inside to get the best view we can get, and then we can move appropriately. Blevins becomes our new CEO as Apple takes a stake – but with no exclusivity on the tech. The next step in a friendly consortium has taken place. Now BAE, Synopsys, Gloflo and Apple begin to shape Fab 3.0 with Poet the foundation. Manocha is smiling.
Speaking of BAE, whats up with that part of the announcement? Poet has signed a contract or “collaboration agreement “ with BAE. Haven’t we have been collaborating with BAE for years? Of course. So why make this statement now? And not only make the statement, but plug in a quote from a high level BAE exec – and then mention BAE again in regards to further updates – in the same breath noting the soon to be released financials – putting the latter comment titled “Further Updates”.
“Further Updates”
“The Company intends to provide a full financial update with the filing of annual audited financial statements and Management Discussion and Analysis which will be issued in April. Further details of the aforementioned third party services contract will be provided at that time.”
Really? As a stakeholder for many years, I cannot recall one time when the company has made any such statement about year end financials. And.......... in the same paragraph linking the financial update with further details on the BAE contract? Something is up. Either we have paid BAE or they have paid us. Care to guess who paid who?
Now there is an unprecedented appearance by Copetti on BNN in a week. The plot thickens. Milestone targets were set for the end of March - targets publicized, and not changed, in recent updates of the corp presentation. I can’t believe Poet, after all this time, would finally head to the screen having milestones perceived as being late. No way they would put PC in a position to have to answer why they are “late”. I think PC will be front and centre to tell the tale of the “never before achieved”, “recently announced” milestones. I think he’ll also clarify the released news of our first NRE revenues from BAE. The Apple connection via Blevins will come up but he’ll dance around this one. Just too soon for any formal talk of Poet and Apple in bed together. But he will talk of more collaborations. Just no names. He will telegraph much but state no details.
I’m sorry, but Nasdaq, here we come. All in my crazy opinion.
