10:55 – We believe POET really holds the pole position here, in this race. From that perspective the future is very bright, ah, pardon the pun.

11:04 – To capitalize on these megatrends, we’re also working to accelerate our evaluation of an expanded product roadmap to include both displays as well as sensing technology. We have received very specific interest in these applications from prospective customers and actually are in advanced discussions to license for NRE fees and transfer our proprietary integrated Planar Opto-Electronic Technology. Included in these talks is the proposed establishment of a platform for the development of integrated sensing applications.

11:43 – Moreover, we’re also in advanced discussions with a leading institution to enter into a joint development agreement that will evaluate the adaptation of the POET platform for potential applications in microdisplays. Microdisplays are applied in this burgeoning augmented reality market where head-up displays relative to miniature projection comes into play. There the immersive displays, specifically in terms of contrast capability, is very important.

12:19 – Both of these emerging sectors represent worldwide growth markets that offer tremendous opportunity for POET. Both of these discussions are at the inception stage today. I bring them to your attention largely to highlight the excitement and interest in the market for POET.

12:37 – But getting back to our short-term targeted markets in data communications, on September 30th I have said we should expect results from the team. Today, I am very happy to report that we’re achieving them. Subhash will now walk us through the detailed operational review.

16:07 – The second priority we defined, refining our business model and charting a new go to market strategy. As we said on September 30th, we are pivoting the business model of this company from a purely licensing model to one that has its underpinnings on products, augmented with judicious licensing. Over the last several months we have undertaken several concrete steps to pursue this business model. On the product side, we have begun to build a team with the experience to launch products in our targeted markets. We’ve also progressed discussions with external parties to assist in our product launch activities. In parallel, we are in advanced discussions with highly renowned institutes for joint development agreements to develop applications in other market segments using the POET technology platform. Finally, we are also in advanced discussions for opportunistic transactions to broaden our product portfolio. Though we cannot ensure the conclusion of these discussions we believe we have made promising progress.