Message to Management
posted on
Jul 29, 2022 03:30PM
I just went ahead of my self and wrote them some questions. And I asked for a letter to the shareholders.
Dear Management,
As you can obviously see, our share price has been constantly declining on most days with low volume since we went to the Nasdaq.
Mr. Mika told us in a message on Agoracom that they can't control the shareprice and the overall markets. But as you probably have noticed a lot of your long term shareholders don't know what is really going on in the company. So you can at least try to give us more details on what is going on.
On one side you often say everything is on track, «we now have shipped some samples to customers» but on the other side there are so many questions and open relationships which didn't come to fruition ?
For example I have those questions, probably there a lot more questions in the head of your long term shareholders:
1. You announced that in the coming months and quarters you are going to try to announce design wins. Actually you announced one designwin « commitment from a leading network systems company for a unique multi-engine design for 100G CWDM4 and 100G LR4 Optical Engines based on the POET Optical Interposer », that was on October the 5th 2021 - is that it?
2. You say we are on track with beginning production in 22H2, but where are those production orders which we need if we are going to production pretty soon?
3. You announced Engagements with a NA Tier 1 Customer and a European Customer. What is going on? Are we still engaged? In which OI are they interested in? 100/200/400/800G?
4. What happened to the new homepage?
5. Why did we get engaged with North Equities for a big pot of money and there was no real outcome of PR?
6. Adrian Brijbassi gets 4000 dollars for an interview every now and then or what else are his tasks?
7. Can you tell us a vague timeframe when you are anticipating those PO`s or more design wins?
8. Did most of those customers want to get involved with 400 or 800G but not earlier and that is why you are rushing to the 400G transmit part?
9. Please always tell us as many details as possible when you are announcing that samples went out. Are they pre Alpha? Alpha? Beta? How long is the normal testing period? How many potential customers got samples? You have announced several times that samples went out or are going out soon and then there was a delay ? Or it was actually the first alpha samples so there were more rounds to go. We are often left in the dark and if you want people to buy these shares we need more juicy details. Otherwise it's just another announcement which could be anything and often we have more questions after an announcement than before.
10. You are constantly telling us that we are in « a position of strength » at « an inflection point », the «floodgates are open» on and on, but where are those contracts, or a European, North American or other partner outside of china for coming productions?
11. Why is no big fund or possible big customer (aka Google, Meta, Microsoft, Cisco, Broadcom, etc. not taking a stake in POET or funding us if we have the holy grail of photonics as you are constantly telling us ?
I know you are all very busy, but it would be nice to address at least some of those questions with an official letter to the shareholders. Those interviews and Agoracom posts are OK but nothing which is really officially stated.
Sincerely and with big respect to your work.
LoveD