Iamsorry & Aves,

Excellent posts both.

I hope you don't mind Iamsorry, but I've copied and pasted your SH account from the AGM below. I was going to just link to SH, but I didn't want to send anyone there if I didn't have to:)

One question I'd like clarified, if possible: when were the wafers/chips likely showcased to interested parties? It may seem a trivial question, but the correct answer lets us answer other questions that may impact our confidence.

Aves's theory is that the chips have been shopped around since soon after the TO meeting. And from that it would be reasonable to assume that POET didn't get the hoped-for mind-blown reaction they were expecting (confidence goes down). My belief has been that the chips never made the rounds until the white paper was completed to accompany the chip (and engineers) - which would have been around the end of June as per an earlier NR. The underpinning of my reasoning has been that they would want the chips that come with the WP to confirm the contents of the white paper. I also thought that maybe the WP might even precede the engineer+chip visits, so that their time won't be wasted on companies who read the WP and who don't care to pursue POET. If this is actually what happened, then companies ought to still be in shock regarding POET's potential and we still might be in for some near-term surprises (confidence goes up). Some companies might even be waiting for their POET presentation . . .

So Iamsorry, with the reminder posted below (relevant sections bolded), do you recall anything about the way they explained their decision not to send the wafers alone that might indicate whether companies have seen any demos yet? Your AGM post clearly says they had already had ongoing contact with the big boys, but I'd like to know for sure if chips were shown at these pre-AGM meetings or not. Thanks.

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Iamsorry AGM post: June 22, 2013 12:50 pm

For what it is worth, here is my take on the AGM and lab tour. To qualify, I have been invested here for nearly 5 years, so have seen the ups and downs and inbetweens. This was the second AGM attended. For this brief summary, I’ll not get into exactly who said what as it doesn’t really matter. Yet I will comment on the personalities met. And please remember, this is all just my perception of what was said and heard.

Overall, the people now involved with this company appear to be very professional and are interpersonally very strong. LS and his wife are delightful people and Lee is an ideal guy to have in his current role; MB is driven and was forthright in answering questions both in person prior to the meeting, and during. PC is an interesting guy that is a strong A type and he wants this to move forward as quickly as anyone. He will get a little impatient very quickly if things don’t happen fast enough for him. Talked with both KB and CT and they will make anyone feel comfortable with the direction of the company. Enough of the psychology stuff and on with the meat.

For the most part they did their sales job with the investors present but I think the transparency was far greater than any management team in the past. The question and answer segment appeared open and honest. Here is my perspective on what I heard thru discussions, the open meeting and the lab tour.

• We can look forward to total redesign of the web page in the next few weeks.
• No new valuation will be done as its deemed to time consuming and the cost/benefit at this point is not good. POET will engage the company that did the original document when required – meaning if and when an offer is being reviewed. It is believed that the valuation is certainly higher now than noted in the original valuation a couple years ago.
• Burn rate has been reduced dramatically and was emphasized that everyone drove to the AGM and expenses monitored closely
• Reiterated that they do not expect to need more capital before completion of sale or licensing
• They are not happy either with current share price. Don’t appear to be happy on the Vulture.
• IBK continues to be confident
• Good feedback in industry about Dr. C joining Board – some very surprised as he was retiring but wanted in on POET
• It was stressed often that there is much they cannot say in public at this point and they will divulge pertinent info as soon as possible. No surprise here other than the fact it was stressed by management at several different times over the day
• team is coming together to comprise the SSC and they are excited about it. I would guess they have had an offer but it was so low it was insignificant. They believe the technology is saleable now in its current development stage but will reap much more very shortly.
• Meetings/discussions are ongoing with major players. There will not be one “white paper” per say, but they will adapt each confidential paper to the needs of the possible purchaser/licensee.
• Decision made not to leave wafers with potential buyers. Concern IP will be jeopordized so POET engineer will demo wafers and oversee application at prospect’s site
• They are pleased with Atomic relationship thus far. Has opened many doors and made good contacts possible, but seeing the decision makers is longer process, and maybe larger task, than they anticpated. They expect to ramp up contacts now with name change and lab back online.
• Interviews have been done with some major US and Cdn media. Editors of those pubs in control of when articles will run, if at all.
• Sandy caused power outage of main and back-up sources. Caused major problem and delay as previously noted. Explained very well. (another post here noted some more detail)
• milestones still in place with timetables – they (including those at the lab) are very confident they will reach each milestone
• techies who ares vested are wishing they had bought more shares and are believing/ hoping for public announcements on POET progress in the very near future.

So overall, a very positive experience. Management team, despite their positive spin on everything, did temper their enthusiasm somewhat and seemed very realistic about the future SP, making no rash predictions, but definitely unhappy with where we sit. They do believe their reputations are on the line with this technology and want it to succeed. The lab team is fantastic. It was like visiting the set of Big Bang. They are committed. POET is their lifeblood after years of invested time. They said several times that, at this point, they can see no reason why they cannot bring POET to the place where it will be fruitful for all involved and are excited it is so close. They are already looking towards the next phases of POET (quantum dots and more).

In summary. I would expect the announcement of the next milestone to be made shortly – this month as stated in the timetable. I would expect, given comments at the lab, milestone 6 to be ahead of schedule. I would expect to see more trading activity shortly as the “dog and pony” show gets underway. As one of the management team told us, if this (sale & or licensing) hasn’t happened with a year, then he & others should be fired. Based on what I have seen and heard, sounds good to me.