A few of my observations from the AGM
posted on
Jun 12, 2015 11:42PM
There was definitely a positive atmosphere there. I couldn't help but smile, upon entering the room as the energy was palpable. Sure the appointements of our new administrators, Dr Suresh Venkatesan, CEO and Dr. Sbuhash Deshmuth, COO contributed, but from the moment I caught Ajits's eye, he smiled, I gave him a thumbs up and he reciprocated, there was a genuine feeling of being on the cusp of something special. Something important and something good.
The attendees were full of anticipation, lots of them from here, and Peter Copelli presided over the meeting according to protocal. the adgenda was pretty straightforeward, our finiancial condition, shares issued, and of course the consolidation shares in regard to our entering NASDEQ. The votes were already there, by proxy so the 1 for 3 passed. Peter explained the reason to have it, was to have available as a back-up was to provide a cushion, if our SP was close to the minumum requirements. He related it was imperitive to POET to be listed on the NASDEQ exchange.
I asked why the current consolidation was at a lower ratio than last years. Was it from a from confidence in our ability to achieve our goal. He answered with a difinitive "yes".
The meeting was short and to the point as there were not a lot of items on the agenda to be addressed.
After the formal meeting, the Q&A session began. Maple Syurp posed the question to our new Board members why they chose to leave their secure positions in major companies (paraphrased by me) and join POET. Ajit prefaced their accounts by describing both Suresh and Subhash as the "best of the best", and that he and Peter gave the selections the time and thought evaluating them commisurate with the importance of finding the right people.
Both of them were eager to explain, what seemed clear to each of them, for similar reasons. why they wanted to join POET.
Dr. Subhash Deshmukh, our new COO, went first and said after consulting with Dr Taylor and Dr. Manocha at length, he learned what POET was doing and how they were doing it. He had been so immersed with his regular projects he hadn't heard of this new platform POET presented. The technology fascinated him,and he liked the idea of POET coming along at just the right time for the industry, as they were hitting the wall of costs vs. practicallity. Actually he liked the idea of the disruptive nature of POET, in that it will open up new and fresh levels of innovation.
CEO Dr. Suresh Venkatesan was spontanious and tempered in his enthusisasm. He carried the room as he described how POET will offer the industry an extremely powerful and cost effective, efficient product (IP) to companies who are going round and round to generate what is accepted as the Gold standard of transfering data. That would be optically. He emphasized the value of having data transfer optically and electronically on a single robust chip like POET. POET, BTW is the only one doing it. He recognizes the disruptive nature of POET and embraces it. My impression is that he is a desicison maker and has the skills to lead POET to the top.
Both these guys had a sparkle in their eyes as they spoke.
I had the opportunity to speak with Dr. Taylor as well. Really an amazing guy. More on him later. Long day, but rather awesome. Met some amazing people today, and of all things, that would include some of the folks from here, but mostly the Board of Directors. More info later as I review my notes again.