POET Presentation – Part 4
I am not going to repeat everything that has been said today except for a couple of things. I can see a couple of our shareholders here who were at our annual shareholders meeting this year. You should ask them questions because they were there and they saw what we have been doing and what Geoff Taylor has been doing. When Peter and I took on this mission we did it with executive titles and the reason for this is that we are actively involved every day. I would love to tell you that I am enjoying every day but I am not. This has become more work than I thought but I think the rewards are going to be there. I have always lived by deeds not words. You heard me say that at the annual meeting. We did that with the solar division. We have refocused the company. A large credit has to go to Peter. The next steps for us are very simple. We have a time frame that says we want to sell this company in the next 12 months with a close in the first quarter of 2014. We have three parallel strategies that are very important. We are going to continue the science; we are going to invest against the science. The reason is the balance of these milestones will add value to our sale process. But the reality is that the largest milestone has already been reached. The second strategy is we must get exposure to this company, the technology to a wider audience than Toronto and Montreal. Let’s call it what it is we are going to spend most of our time and energy in United States. The third strategy on this key, key path is monetization. The number is going to be based on the following. The revenue in this industry blew me away when I looked at it. It was $430 billion (the semiconductor industry). The amount of R&D that they spent in 2011 in the top six companies was $26 billion.