Nothing new in the highlights....
Third Quarter Financial (non-IFRS) and Recent Business Highlights:
- Signed a development and supply agreement with a leading European optical systems company to design optical engines for a 400G data center application;
- Held annual general and special meeting of shareholders using a virtual format, with all resolutions being ratified;
- Proved out all features and production methods for the Optical Interposer platform to achieve production-ready status
- Extended the final expiry date of 12,545,350 warrants with an exercise price of CN$0.75 from September 30, 2020 to November 17, 2020 (no warrants were exercised prior to expiry);
- Ended period with cash and cash equivalents of $9.4 million, compared to $1.4 million on December 31, 2019; and
- Subsequent to quarter end, completed the signing of a definitive agreement with Xiamen Sanan Integrated Circuit Co. Ltd (“Sanan IC”) for the formation of “Super Photonics,” a joint venture with an estimated value of $50 million.
...but this is good news....
“During the third quarter, we made extraordinary progress on our product development efforts on the Optical Interposer platform, and in several instances, exceeding our own internal performance metrics,” said Dr. Suresh Venkatesan, the Company’s Chief Executive Officer.
