Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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Message: Re: Management is busy and FY results are no big deal

Mack:

Can't really disagree with anything that has been presented by yourself or PIM but I would like to add my thoughts on the potential MD&A disclosure. It will be interesting to see if there is anything that records the Synopsis relationship. If they are providing services 'gratis' then hopefully the MD&A will provide a hint as to what the consideration is for those services and more importantly from my perspective, how are those services valued. It could very well be that the valuation in and of itself does not present a material amount for the period being reported and we not get the disclosure that we're looking for.

In addition, I'm not necessarily thinking that there will be any additional 'tidbits' that wouldn't have already been disclosed by way of PR. I would be a little surprised if there were any material disclosures in the MD&A that was new and exciting information.

Just my personal opionion having written and been immersed in enough MD&A's to know.

best regards,

Hogan

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