The biggest issue I found with the news release was not the micron symbol error. It was that a number of assumptions were made about the audiences understanding of the ongoing details of POETs commercial and technical efforts.
This statement caught everyone off guard.
As previously announced, Poet intends to commercialize its integrated resonant cavity detector as its first product and demonstrate this prototype by the end of 2016.
Clearly 99.999% of the readers had no idea where or when this was previously announced. It was new information to most and should have been presented as such. People more familiar were able to piece it together based on statements made in the CC but still it was a big assumption and should have been presented with some context around it.
When you combined this with the following statement regarding the VCSEL and FET: Testing and characterization of these devices are under way, and Poet expects to require further development cycles through additional wafer processing to fully achieve the true potential for these integrated opto-electronic devices.
All of a sudden the reader begins to get some notion that maybe all POET has is an IR detector. There is nothing further from the truth but that is the way investors will adjust their thinking.
Unfortunately POET assumes that the market is familiar with all the background and thus skips some very key information.
POET assumed the readers would be aware of the processes of doing many wafer runs with many adjustments made as normal. The only clue that many will have that this is a normal process in industry was this statement. “We expect to remain on plan”. That statement is made when addressing Geoff’s retirement.
I read questions on this forum which surprised me. Where regulars here were asking questions as to what happened to the AOC? So the ball really was dropped in a big way to confuse people to that point on this forum.
What should have been a great celebration over the outstanding results of the detector was overshadowed by misunderstanding that everything else is progressing as planned.
My wife was looking for the theme to Groundhog Day that she wanted to post on the forum. All she could do was laugh. There are so many moving parts with this company they really do need someone not so close to provide an objective view. It really begins to have long term damage when the market is provided with news where the basic messages that are core to the company’s business fail to be understood due to assumptions.
