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Message: Thoughts on the AGM
Just returned from the AGM and a few days on other matters.

I have reviewed most all the posts from the AGM attendees, and I am quite impressed by the validity and reliability on the transmission of the facts presented, particularly regarding the BoD and Lab Tour Q&A sessions - and there were many Q&As, both formal and informal. I also felt that attendee's related perceptions and observations are also right on point.

For perspective, my own professional experience has taught me to always have one eye open as to people's intentions and self interest. To that end I must say that I was rather taken with the candor, sincerity and critical thinking offered by Agoracom's core crew. The night before the AGM, I had the opportunity to share many discussion points with the likes of Fair, Oogee and Robv, as well as others who typically fly under the radar - MapleSyrup, JTU and the charming AndySeven. And this may shock some - there was no lack of differing perspectives offered by everyone, which I believe truly does reflect the quality of this board's thinking. (I am only sorry that I did not get a chance at jrubinst - as I thought he wasn't to be there - as always respect his critical and often-times 'non populist' pov.)

Most pretty much everything has been covered by attendees, though I will share a few things that I also personally experienced . . .

  1. I had opportunity to briefly hit up AM prior to the meeting . . . What most attracted him to Poet? . . . let's just say that his ensuing many 'disruptive' references during the AGM meeting have already been well covered. When asked about the direction of his enlistment process, AM complimented Copetti for his dogged and relentless pursuit. When discussing potential PDA partners, he could not stress enough the need for confidentiality through the process, and that any revelation of who the players were would definitely threaten if not kill negotiations - other than material matters, they would likely follow the partner's leads in revealing any association. Very approachable.
  2. Some attendees mentioned the lack of Lab staffing evident during the Lab Tour sessions. To further validate Mrs. Sheppard's comments regarding full Lab staff working . . . I can verify that I did wander back to the restricted area and noted 3-5 Techs working there immediately prior to the tours commencing (there was no access, but remembered seeing through the glass) . . . for what it's worth. And let's bear in mind the 16 or so total employee headcount.
  3. While this is likely published somewhere, for those interested please note the following on Sheldon's option grant, as confirmed by CFO Kevin Barnes . . . as I understand it, his 500,000 options one time only - 25% awarded immediately, and the remaining in 25% increments every six months thereafter. IMO a steep price to pay to bring his shares under wing. Though as Fair and someone else suggested, Sheldon may be a case of . . . 'Keeping your friends close, and your enemies closer'. I characterize it as 'Better the Devil you know, than the Devil you don't' . . . though I probably like BCD's characterization of Sheldon as 'our snake in the grass' best - lol. And while we all hurt from the recent SP pressure, I can take some solace in the that fact that as of today, SI's new option grants are under water.

Finally, I too felt the BoD is highly convicted, confident and energized with respect to the challenges in front of them. Unfortunately the Board Q&A was cut off to commence the Lab Tour, as there still appeared to be many questions. I felt Copetti tried to be transparent, but I'm guessing that getting out from under fire is also appealing, particularly in the face of a rather sensitive time relative to releasing information.

In the end I more than ever feel Poet is a matter of when rather than if.

D

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Aug 15, 2014 07:09AM
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