Good evening everyone. I don't know where to begin. The last month or so has been quite rock and roll. From 4$ CAD at the end of October (or 7+$ CAN this Summer) to 1.25$CAD on basically no news....just because of a botched financing.  It's like 2016 but in worse.  9 cents....after 7 years, Suresh and his team financed us at 9 cents US (pre consolidation)...with A FULL 5 years WARRANTS.  9 cents.....9 cents....and they think they did a great job!

 

The problem with this company is NOT on the technological side.  It's on the business side. Instituionnal investors seems to have understand this quite early .  No wonder Lighwave Logic has like.....10 times our institutionnal holders than we have. 

 

False information were given to us over the years.  False info regarding the time frame of a product development, about the payment of a certain amount when we sold Denselight,  the Up and to the right, expect result, Weeks not months etc.  A lot of empty sentences just to keep us happy. Unfortunately, our investment decisions were made on those infos.

 

The problem with this company is a leadership problem.  From my point of view, the guy running the show is TM.  And it shouldn't be him.  It should be Suresh.  But, Suresh is a tech guy, not a financial guy.  And so, he rely to much on TM for some of his decision. 

 

I won't go into details but at the very begining of November of this year, I wrote an email to TM.  I was having concerns about this financing....no pricing....no size of the financing etc....It was like a déjà vu of 2016 for me.  It was exactly on November the 3rd my email. I was giving him my point of view about what we should do and what we should avoid. 

 

You don't want to read TM's reply to my email that day.  It was a piece of junk.  National League. I've send it to Suresh and he immediately gave me his apology for TM:s email. It's a classical case of a guy that could have been dismissed for cause immediately. The langage that was used by TM was subpar of a CFO. I was an A_H he doesn't give a F about the Agoracomers etc.....Now maybe TM was having a bad day that day.  I have to admit myself that I wasn't always the most pleasant guy with TM. Nevertheless, as a sharehlder, I have the right to whine about the management. TM did apologied and I accepted it. Case closed.  Now that doesn't made him a more fit guy for the job. 

 

So as long as Suresh won't be able to take the decision that he has to take to succeed in this business, we will stay where we are now. Unfortunately, I think that Suresh is a weak guy in term of management capability ( not on the tech side, on the management side) and we are stuck with 2 guys with egos much larger than what they can deliver.  And the BOD is just useless.  Full of academics and yes men and women. 

 

I spoke a  few times with potential institutionnals investors and they all told me the same line for refusing to invest in POET:  As long as TM will be there, I wont't put a dime in this company.  Suresh already knows it.  I told him that already. 

 

Do I have confidence in the tech?  Yes of course! Do I have confidence that the statu quo is viable?  NO.  Things have to change at Poet.  Einstein once said that the definiton of insanity is repeating over and over the same experience and expecting different results every time. 2016 and 2023 same experience.....same results

 

 

BREEZE67