@aves

"If POET doesn't issue an update this week, management will easily be the worst of any company I have owned to date with transparency. It's seems like arrogance to me."

While I agree with the sentiment that motivates strong statements like these (I want a POET update as much as you), I couldn't disagree more about the characterization of management being opaque, and especially about them being arrogant.

I'll be the first to admit that I have a long way to go before I can match the experience many posters have in the markets. That said, I think I know enough about *this* company that I can safely doubt that the quiet we are experiencing right now is of the same variety we had 2 years ago under the old regime.

2 years ago there was a cover-up for what was really going on, no doubt about it. I think many longs are still smarting from that, and remain wary as a result. Back then we were never told that money was being withheld from Dr Taylor to prop up the doomed solar business. The company was never clear about what the money from the many LOCs would be used for. They never told us that DOD was cutting SBIR programs. They announced the appointment of a VP of solar only to see him quit without replacement (or another announcement) only months later...

I understand that it would have been just as bad for OPEL investors if the company had released NRs about these problems, but at least they could have published these issues in their MD&As. At least they would have been meeting the minimum requirements for disclosure! Even if someone could argue effectively on behalf of the company to defend their actions back then, I don't think any sane person could explain why LP was doing interviews talking about the enormous demand for the trackers, and about having to shift personnel to meet demand only to show a $40k revenue quarter immediately following!

To this day I don't know if they truly thought their maneuvering was going to lead to a turnaround or if their arrogance (save for one director - and I'll get to him in a minute) led them to believe that they could keep the charade going for eternity. And I think they *were* arrogant back then. Ask anyone who attended the AGM in 2011 and they'll tell you how smug everyone was. At the time I have to admit I thought they deserved to be revered for what they were doing. Maybe that was my inexperience combined with the awe I have for the POET technology. Ironically, one of the more reserved directors was LP. He started his POET speech by saying we needed to "slow down" because of the number of things that had to happen before commercialization was possible. But then he proceeded to claim the IB they would soon pick (from among 18 or so?) would let "everybody know" who they were going to deal with...Didn't happen.

The management we have now has been responsive on numerous occasions when they could easily have ignored shareholder sentiment. They have given a couple of updates for no other reason but to keep us in the loop. It is arguable that these NRs were not even material. I'm not going to link them, but if pressed for examples I'll make a follow-up post.

The point is, management *has* tried to keep us in the loop when possible and that's why I think the fact that things have gotten quiet means that they simply can't give us anything at the moment. Either they are in talks, they are waiting for the right metrics from the POET/BAE lab(s), or something else. I feel very confident that they will report when it is possible.

And people here have to remember: the bottom line is that it is the POET team that is missing the deadlines, not management. If you want managers to act on this, it would actually be their job to go and tear Taylor + team a new one for not targeting their milestones accurately enough. From what I've read on this board, based on the sentiment around options grants to the POET team, I don't think anyone wants management to take this action (I don't, that's for sure!).

Lastly, I think it's unfair to characterize POET management as arrogant. In addition to the fact that they may simply have nothing to divulge right now and are likely working extremely hard for shareholders, there are particular members on the board who are as far from arrogant as possible. As long as I hold shares I won't let anyone forget the action Sam Peralta took on behalf of shareholders back when management really was arrogant in how they treated us. He quit and gave up many options to defend the shareholders and to fight against the old regime. His integrity would not allow him to be part of such a team and when he left he made a point to support the POET team (Taylor, etc.) and said nothing about anyone else. Saying nothing said a great deal. The fact that we have him back adds immeasurably to the integrity of management and it also gives us a steady barometer on the actions of the current BOD. BTW, I've heard from a couple of sources that he happens to hold MB in very high regard and he is especially impressed by his commitment to shareholders' interests. Sam's endorsement, plus meeting MB in person and hearing him talk about his commitment to us is enough to dispel the notion that we are dealing with arrogant managers.

Sorry for the long post, It's been a while:)