This was the third AGM attended (2011, 2013, and now 2014). Each one has been interesting and for me, shed different lights on activities.

2011 was a disaster AGM. Lousy mood. Lousy comments. Management didn't even take questions. Although I am long, I sold a bunch right after the meeting and was happy I did. Able to buy back a little more, a little later, at a little less.

2013 was very encouraging. Great discussions with attendees. Management very open and answered alot of questions. Lab tour was fantastic and lots of opportunity to talk with the Big Bang Boys in the lab. I recall the talk of quatum dots and how they were waitnig some confirmation on P & N channel results from a third party. Everyone was very encouraged and excited. I recall the comments from management and Taylor about how much was happening and there was much that could not be said. It was a week later we had M6 announced - ahead of schedule - before M5 and M7.

This year I found the mood encouraging but somewhat subdued compared to last year. There was some but almost no talk of "we have so much going on and we can't really say anything" at this point." I really had a sense that some are frustrated. Not that there is any "hair is the soup" but that process is more elongated than most had previously thought. (I did not get this feeling from Dr Taylor as he is as upbeat and positive as ever, and I certainly could be wrong about other's frustration levels). Nothing to do with the tech but more the acceptance of the industry - and the markets - to take Poet seriously. Plus the length of time it takes to produce not only the documentation for the TDK's, but PET TDK models.

However, like others, I was totally impressed with Manocha. He commands a room when he speaks and is confident Poet can be a game changer. I did ask about the prototype development scheduled for completion later this year, and was told there is no change in that timetable.

One thought already discussed on this board was Taylor's comment about the new mass set recently completed. This represents a process that has attributes for commercial yields, which is very very encouraging. Taylor said commercial yeild has not been proved but the mass set makes it very believable.

What I found most perplexing this time at the lab was the rushed tours, the lack of staff present, and the lack of viewing of the testing area where last year we had observed the start of quantum testing and the progress and measurements in N and P channels. Aside from only a couple lab personnel and of course, Daniel and the Dr., I noted almost no presence. I wasn't sure what to make of it, but on reflection, I would think hope/they are elsewhere. BAE? Third party? Partner facility? Seems to fit with timelines and plan to move.

Overall, there seems to be no issue with the tech thus far. At the lab they have many internal milestones not published and are pushing on as quickly as they can. Outside of the lab, discussions are ongoing with possible partners as well as possible investors. They continue to say they must just execute on their strategies to make this company very successful. Thankfully they have a very good team to execute, and I would not be surprised if they add to the team in the near future.

As for the SP, I suggest that some are just tired. This company was to be sold by now. Most longs expected this ride to be finished and have us all walking away saying our thank yous. Just not the case. Having been here for longer than most, I too am tired of waiting for a substantial payout. Yet the potential upside is so great and the end seems so close it is difficult not to think it is just silly to bail now. So I am sitting tight waiting for more news that will have us all thankful we held on. I still think we are in good hands.

All the best to those who endure.

Iamsorry