Re: U s buying
in response to
by
posted on
Jul 22, 2013 10:28PM
Aves:
"... by the movements of management and share price high likelyhood they changed plan because significant offers were not coming.
Posters here need to understand that and stop thinking mountains of gold coins will be falling on us.
I am hopeful, but to me the change of direction was from neccessity"
I don't think that's the only possible conclusion based on the information we have.
First, for the SP to react either way we would have to assume there are people out there privy to OPEL's inner sanctum with enough cash to affect the SP. If anyone fits that description it might be Inwentash and he's holding tight. Everyone else is an insider and accounts from those who attended the AGM say many of them (from Jill Shepherd to the POET team) wished they could buy more.
I think the reason the plan has changed (and even the idea it has changed is disputed by some who attended the AGM) is that the BoD is getting expert advice from AC and because LS has had a chance to make some rounds and get the lay of the land.
Now, to some extent things must have changed regardless of what was shared at the AGM otherwise MS6 wouldn't have jumped the queue. This must have come about as a reaction to something they learned through their work in the time between the TO meeting and the MS6 NR. Nevertheless, such a change doesn't indicate lack of interest, rather the opposite.
I think some of us (myself included at times) may have mistakenly believed that the formation of the SSC was a recent decision, as opposed to the execution of the plan described at the TO meeting. Think about it. In TO the team described a plan to up the SP, make a short list of buyers, and sell the company. Clearly, the SP plan didn't materialize, but the SSC might well be the execution of the part of the plan which considers proposals from interested parties.
So what's the hold up?
Here's a clue:
FTA:
"In parallel with the PR and IR implementation, OPEL's monetization activity continues at a rapid pace. A confidential due diligence report detailing the evolution of the POET Platform with the addition of research and development's latest trial data points will be completed within the quarter. The business development white paper will be made available under Non-Disclosure Agreement ("NDA") to potential prospective partners and IP Licensees only."
And consider the previous statement along side this:
FTA:
"Mr. Peter Copetti, Executive Director of OPEL, and Chair of the Special Strategic Committee (SSC) for commercialization of the POET platform, noted: "The SSC deemed Milestone 6 to be critical for our commercialization activities, and staff focused on this milestone. That we achieved Milestone 6 so quickly spotlights the caliber of the POET team, and our ability to execute and to pivot to industry needs."
So IMO, OPEL is merely delayed in executing the plan they described back in March. The content of the above quoted NRs says pretty clearly that POET hasn't yet had the chance to be ignored by potential buyers/licensees. The WP content has only very recently been collected and very likely hasn't even been distributed under NDAs yet.