Re: Current Status of Poet Lab in San Jose?
in response to
by
posted on
Sep 24, 2016 12:57AM
The move of the POET facility from Silicon Valley to Singapore facilitates the integration of PTI, BB and DenceLight. This was stated in the current MD&A of 29 August 2016:
Finally, the acquisition of DenseLight also provided POET with the means to receive an offer of support from the Economic Development Board (“EDB”) of Singapore to grow its R&D operations in Singapore. This significant support from the EDB will bring among other benefits, significant incentives to POET and its subsidiaries, DenseLight and BB Photonics, to reduce overall operating costs and to accelerate the Company’s growth through combined operations in Singapore. POET expects to gain meaningful leverage from Singapore-based research and development efficiencies, infrastructure, learning institutions, human capital, and strong high-technology manufacturing.
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00003983
This actually seems to have happened in Q2 of 2016 i.e. by the end of June 2016 at the latest, as the statement from the General Expenses section of the financials states (My highlighting):
General expenses
General expenses and rent increased in Q2 2016 as compared to Q2 2015 by $176,136. The expense was $241,088 in Q2 2015 and $417,224 in Q2 2016. The expense was unusually high in Q2 2016 due to the increased travel, due diligence and other acquisition costs related to the acquisition of DenseLight and BB Photonics. The expense also includes the activities of DenseLight since May 12, 2016 which contributed $74,000 to the expense in Q2 2016. The Company also incurred substantial shipping costs in transferring most of its equipment from the US to Singapore in Q2 2016 as part of its integration plan.
From <http://agoracom.com/ir/POETTechnologies/forums/discussion/topics/674366-current-status-of-poet-lab-in-san-jose/messages/2111527#message>
We are now almost three months into the integration of the Company and its acquisitions. One wonders what progress is being made on this integration, particularly the respective science pf each company and what progress towards grants from the Singapore Government for R&D, I imagine that the POET process and POET designs for detectors, HFET, and VCSEL will be utilised in future products targeted originally by BB and DenseLight, whilst in the meantime we benefit from sales of current DenseLight market offerings and customer base. It will be interesting to know how the synergy of this new relationship is developing. Clearly personnel are on the ground as we heard elsewhere here that BB was not answering its phones in UK as staff were in Singapore and also indicated by increased travel costs stated above in General Expenses.
This all augers well and is but one factor that rather defies the doom and gloom we hear from the likes of A Beautiful Poem whose negativity seems determined to create the picture here of PTI being on the edge of disaster, which is a completely unsubstantiated claim other than from his myopic reading of why the Share Price is where it is. The reality is that everything points to the edge we are approaching being an' inflection point' where results will be announced that will positively change the perception of PTI's potential. Which is why Shelton is now engaged to promote the correct image of PTI progress. The timing of this, which is so critical to us as investors, is as ever difficult to determine, but we are now entering the quarter Q4 of 2016 when the key factors converge and hopefully will emerge to our satisfaction as a more publically orientated presentation that sells POET, PTI and drives the rise of the company's shares upwards.
sula