Ciciagt, this is an honest answer to your questions-
One of the reasons is that the market changed
to one demanding Cadmium-free quantum dots.
That's a big reason. Luckily QMC had both IP
and automated process machinery to speed up
development to a point where now QMC is
evidently promoting a QD Film that meets and
exceeds requirements of the display industry.
Another thing to realize is that unless there is
a commitment to an exclusive arrangement,
the QD film that gets accepted by one company
should gain acceptance from all companies,
perhaps with minor variations. So getting to
a 'sale' means the opportunity for many sales.
But Joint Ventures are the primary goal because
rather than selling only the raw material, by
participating in the development of the JV's
end product, QMC can share in the greater
profit of the value-added products. Sales can
be made, in some cases, first if it is a premium
price, and/or if a royalty on the
units sold (or some other metric) is added.
So, depending on the path and the goal you
can see there would be many variables to
consider to maximize profits in the long term,
which is the path to the greatest benefit for the
shareholders of the company.
Steve Squires thinks long-term. I say he is
a visionary, and I have seen him work for
six or more years now. In 2009 he published
a paper on how QD solar cells are the only
economical and green solution to the problems
and dangers of global warming. Its a dire
situation, but the Chinese are motivated and
mentioned solar power in their last PR. I am
sure that was a motivator for Steve who has
sought financial backing for Solterra for
all these years. Its closer now to getting
started, and Jabbour will evidently lead
those efforts. Jabbour has been with Steve
since Day One and they share these goals.
I cannot explain how difficult it is to close a
deal of the size and types we aim for. The
China partners have been in the works for
over two years now to get to this point.
You have seen in the PRs how long we
have been working with our Display partners,
and we have and will hold out for the best
terms. Anything less sends a message to
companies that they can take advantage
of us, and Steve is pretty sharp at seeing
all sides of a situation. So the idea that
QMC is not working in the best interests
of the shareholders because they have
not make short-term small sales is short
sighted. When you consider that the
quantum dot display market will grow
immensely between now and 2020, that
the QLED, Solar, Batteries, Ultracapacitor,
anticounterfeiting, anti-aging, sensors,
RFID, etc., are just or soon will begin,
one can see that the company is trying
to develop organically so that its base is
strong as it branches into new areas.
One last reason is that the market was not
ready for quantum dots before now, and it
is only in a few industries, like Displays,
for example, that commercial products
are being introduced. Quantum dots were
too expensive previously to business plan
products that would be commercially
accepted. One could say most of the
industries mentioned in the preceding
paragraph are not ready for prime time QD.
I went to industry tradeshows for years and
asked everyone if they knew what quantum
dots are, and got blank stares as if I was
talking a foreign language. If the industries
aren't working with quantum dots, you can't
make them do it. I also found companies that
wanted samples to experiment with, who
had no idea of the protocols involved.
You just don't make a quantum dot sale,
you have to work with the client and in
many cases find the answer to their
problems and incorporated that into our
product, or at least work with them to
develop theirs. We are lucky to have
the researchers who have stayed with us
and they get a lot of the credit for moving
us forward to where we are today.
Re: the departure of the board -
I have not been associated with the company
for some months now and was not there when
the board left so any answer I give on that
subject would be conjecture and unsubstantiated
rumor. Mostly, I will say again, I believe QMC
is stronger now with Squires back at the helm,
and will move faster than with the just previous
management. Squires sees the whole picture.
When I worked there, although I was good at
research, I was always surprised that he was
in most cases, already familiar with the new
information I found. So I look at the departure
of the board as a good step forward, one that
should bring less concern and worry because
there is a better person leading the company.
The fact that the China partner, GTG, felt
confident in Steve Squires and Toshi Ando
to announce their expanded plans for working
with QMC is proof that there is no problem.
The reason the old board left is moot.