I have not written for some time, not because of loss of interest but the sense I cannot contribute a great deal without overt speculation. I am not a great correspondent and constant writing is not me. However, events have occurred and I have been following. Like the rest of you I want to be rich quickly. So, under extreme family pressure, I make a further contribution to this great forum.
The recent question and answer shareholder session was a mixed bag. Mixed because it contained encouraging features and, yet, a sense of disappointment as success, at least superficially, seemed more distant. My interpretation, having listened and read the transcripts, notes that this was all about the POET platform. Essentially, we are promised working prototypes in something like 12 to 15 months time. There was enthusiasm about its anticipated performance and its ability to revolutionise the market. Emphasis was placed on the servers of the cloud computing, large storage market. It explained why Geoff Taylor had left the board to concentrate on its development. In all, while the message was very upbeat, the effect put off financial success until, perhaps, 2017 even later. That does not matter to me. I sit here retired, with a good pension, my lovely partner and my family all relatively close by. Who am I to fuss too much about waiting another 18 months. Such complacency will be anathema to our younger readers who should have been rich yesterday. My immediate response was a phone call to my brother (remember him, yes! The polyresponder and Valium supplier to this forum, known by the vernacular calming Sulasailor). A large whiskey later (JW Black Label) and all was fine with the world.
When recovered, a further thought, weedled into my head: this meeting was notable not for what was said but what it hadn’t. Why would they do this? For those reading who may be not quite aware, POET is planning 2 basic microchips. There’s the one with the laser and the other without, know as PET. We’ve been told all about the light but PET is in darkness. How come there was nothing about it? What we do know from the past is that there are prototypes. We know BAE are probably involved in producing them. We know that Synopsis is involved in producing the code for both manufacture and development and that, on this timetable at least, they will not be currently involved in POET coding. We know there is a fruit company executive about. We know that all this occurred in later 2014.
Then, if you like connecting dots, I thought why do they not tell us anything about PET. The hopeful assumption is probably they can’t, they said at the recent meeting they couldn’t tell us all and this may be for legal reasons known as non disclosure agreements (NDA). The other assumption could be PET is a failure, though I seriously doubt it (they’d be legally obliged to disclose this). If you read the transcript with care, I believe there were some subliminal messages given. I give you a statement like “expect results” from the CEO. As the subject of the meeting was the development of POET and they told us when to expect prototypes in late 2016, then expect results seemed, at least to me, a long way off, and this was strange. So, I think, “expect results” is a subliminal message regarding PET which does not break NDA requirements. Why address a question about Synopsis which is not working on POET currently? Again, this is a subliminal message about something else i.e., PET.
Also, why arrange a road show to encourage investment when the prototypes are 15 to 18 months away and there are sufficient funds to develop it. Why give all those adverts, remember them. So, here’s what I think. I believe they are much closer to PET contracts than the meeting implied and “expect results” relate to that. I think there’s a surprise to come. PET will be one of the fastest microchips on the market but at substantially lower power demand than all other available chips with substantial cost savings in circuitry. Surely, this is a godsend to mobile markets. You can put everything save light on this chip: multipurpose memory, central processing units, analogue and digital inputs and outputs – one chip does the lot, got to be good for mobile technology e.g. smartphones, watches etc., that’s a huge market.
Above all else is the glaring, standout, monstrous elephant in the room: why would such well paid, highly sought after, obviously competent executives such as Ajit Manocha, the CEO and COO, join a company as small as POET Technologies, with some fancy future idea unless they could see both immediate and future potential of real substance?
Clan POET members, I think we are about to be surprised, I feel it, I think it, it’s there, hazy, shimmering, vague but it is there.
David
