POET Technologies’ (PTK:TSXV) appointment of Dr. Deshmukh may be a pre-emptive move to prepare the company for revenue, and the potential monetization of its POET platform.
While a spike in insider buying led us to POET Technologies way back in early January of 2014, the company’s unwillingness to give up its dream to rewrite Moore’s Law has been the reason behind our continual follow up.
Yesterday, on April 27th, 2015, POET announced the appointment of Dr. Subhash Deshmukh as its COO.
While I could write a short novel on Dr. Deshmukh’s accomplishments in the semiconductor industry, a few key words in yesterday’s press release stood out above Deshmukh’s many accolades.
Mr. Copetti, interim CEO and Executive Co-Chairman, stated that:
“Subhash’s appointment marks another crucial step in the Company’s succession plan as it moves towards monetizing the POET process.”
This is one of the first times in a press release where Copetti has mentioned the word monetizing.
These words highlight the much talked about “Lab to Fab” transition; furthermore, the company appears to be openly preparing for the next stage in the POET platform.
POET Technologies: drive to fabrication and revenue
POET Technologies‘ goal is simple: develop its planar opto-electronic technology (POET) for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. If the company achieves this it will rewrite Moore’s Law and change how information is stored on semiconductors.
POET Technologies’ market
POET Technologies – 2 Year Chart
POET is trading well above its 200 DMA of $1.37, but is just one bad trading day away from breaking down below its 50 DMA of $1.61 per share.
POET 50 Day Moving Average
One year ago, on April 16th 2014, in an article titled POET Technologies: $400 million market cap and no revenue, POET’s valuations and the state of the TSX Venture were explored. Please, read the below excerpt to remember just how far POET has come despite the rollercoaster in its share price.
“POET Technologies is a TSX Venture tech stock you’ve likely been hearing a lot about lately. If you thought a $400 million market cap company, with no revenue, could only exist on the NASDAQ, think again!
Welcome to the evolving TSX Venture, where medical marijuana-related stocks and high flying tech stocks reign supreme.
In early January of this year, just as POET Technologies began making its move to record highs, we released an article titled, POET Technologies: TSX Venture Tech Stock you haven’t heard of. This article has gone viral throughout our community and since its publishing, thousands of new investors have rushed into POET Technologies as its share price has increased more than 5-fold.”
Click here to read the entire article.
While a $400 million market cap with no revenue may have been premature, if the company achieves fabrication and is able to monetize the POET process, a new world of investment bankers may end up reviewing POET’s tech.
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POET Technologies’ credibility continues to build
Dr. Deshmukh has excelled in his field for decades; having played a leading role as VP of Business Development for Varian Semiconductor up until its acquisition by Applied Materials in November 2011. Being asked to stay on with AM is a critical sign of his contribution at Varian.
Again, Mr. Copetti, interim CEO and Executive Co-Chairman came back to Dr. Deshmukh’s revenue generating experience and capabilities in this statement:
“We are very pleased to have Subhash join the Company due to his proven track record in leading technology companies, both in technology development and strategies to create sustainable revenues.”
Click here to read the entire comment and press release from April 27th.
This is a key comment in that Copetti is letting the investing public know POET is not just hiring another scientist, but a PhD with business experience in development and in generating sustainable revenue; this combination is a rare breed.
In my experience, men with Dr. Deshmukh’s type of background are far less motivated by money and stock options as they are with making history and finding satisfaction and fulfillment through accomplishment in their work.
This is the type of team member POET Technologies needs now, perhaps more than ever, as it moves from the Lab to the Fabrication stage in the development of its planar opto-electronic technology.
This article represents solely the opinions of Alexander Smith. Alexander Smith is not an investment advisor and any reference to specific securities in the list referred to in the article does not constitute a recommendation thereof. Readers are encouraged to consult their investment advisors prior to making any investment decisions. The information in this article is of an impersonal nature and should not be construed as individualized advice or investment recommendations.
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