ihybg's Profile
ihybg's Posts
I've a request for our hard working hub leaders. Although the new ignore feature makes it easier to ignore the trolls, I'd ask that you guys continue with your (thankless) task of keeping the board clean of garbage all around. Ignore is great, but it ultimately ends up being like stockhouse where the vast majority of posts are vile. Judging by the, (I'm sure coincidental) influx of brand new poster in the last 24 hours, it seems that the Stockhouse gang knows full well that they'll be given more freedom here with the ignore button. Thanks again for your work in keeping this site a useful tool for rational discussion and DD.
j
My (guesswork) translations.
Warning!!!: this is entirely speculation. If you can't handle that. Please don't read on!
"It is increasingly clear that we must first demonstrate production-ready products before pursuing potential licensing opportunities, since potential licensees require evidence beyond laboratory demonstrations as key proof points of commercialization prior to making any significant investment."
- still interest by other companies, but no one's ponying up NRE until we have a working "production-ready" product.
"Although the path and timelines to achieve full commercialization may have evolved from what was originally envisioned, I am confident that we are better positioned today to achieve our goals and vision."
- general delays all around in getting things out the door, probably due to third party supplier delays
"However, the pricing of any public offering is determined by investor demand in coordination with the investment banks placing the offering,"
-we got screwed by the bankers, oops.
All IMHO, FWIW, etc..etc...
As are most here, I'm trying to wrap my head around the rationale of this move. In particular, why the public offering if you're going to run the share price down so much? Presumably they could have made a public offering at a "reasonable" price and if it wasn't filled, so be it.
If I desperately needed to sell my house quickly and houses like it are selling for $500000, I might be really motivated and try to list it for $350000-$400000, but how desperate would I have to be to list it for $150000-$250000? I know it's apples and oranges, but it seems the whole point of a public offering vs a private placement is the ability to advertise the offering widely. Why go that route if you're not going to disclose the price in advance or do any public advertising on the offering?
I'd understand if they'd approached brokers/investors for a private placement and were told "we're not going pay over 0.36 for it, take it or leave it". But short of collusion on the deal (wink, wink), why open the bidding at the lowest possible point? Was the public offering targeted at 1 or 2 big investors and made public so that the little guys, could, in theory buy in? Was it meant to be a peace offering in light of how badly we're being screwed?
If the more market savvy people on the board have opinions on the technicalities of how these things are organized, I'd love to see the logic behind it if possible.
Lesson here for me. Look up who they're getting to do the deal BEFORE it's done!!
5 minutes googling Rodman and Renshaw:
'“emerging growth” schlock shop Rodman & Renshaw filed for Chapter 7 bankruptcy… '
http://observer.com/2013/12/were-as-dumb-as-weve-ever-been-surprised/
'But many of the Chinese companies being promoted at the Rodman & Renshaw conferences turned out to be suspect'
“If there were league tables for reverse merger deals, Roth Capital would be close to the top, along with Rodman & Renshaw (RODM), …"
http://www.businessinsider.com/5-warning-signs-that-a-chinese-stock-may-be-a-fraud-2011-6
"I have seen soooooooo many sketchy Rodman & Renshaw financing deals…"
http://www.timothysykes.com/2009/08/rodman-renshaws-latest-pump-dump/
"The clients Rodman works with are basically the bottom of the barrel companies with poor management and even poorer performance…"
https://www.glassdoor.ca/Reviews/Rodman-and-Renshaw-Reviews-E3578.htm?countryRedirect=true
Sad day today. Financial devastation aside, I think what gets me the most is the shattering of the dream. We all know that we're not supposed to "fall in love" with a stock, but we also all know that many of us did. More than anything, today marks the day we all dramatically fell out of love with Poet Technologies.
I, like many others here ignored the jibes and catcalls from the traders and profiteers, not out of ignorance or stupidity as they'd have you believe, rather out of a sense that it could be possible to get a piece of the capitalist dream as a little guy, without sacrificing your morals, without stabbing someone in the back to get there.
Was there greed involved, sure, but always tempered with a hope that the rising tide would float everyone's ship. Instead, we get the lesson that those on top can take what they want, when they want, and, this is the part that's the most terrible, they'll do it while laughing about the ignorance and stupidity of the honest people on whose backs they climbed.
This scenario is playing out all over the world in many ways and is certainly not confined to Poet, but I think we all believed that our management was a breed that wouldn't stoop to playing the game. Best case, they were played too, but I find that a little hard to believe at this point.
Long, sure, but not so strong at this point though.
Jon