Sure...
1. Michael was talking about the first right of refusal and just mentioned that J&J wanted first rights to their products and if they had an autofocus lens they would buy it from them, because that is one of the Holy Grail type products that contact lens manufacturers are wanting. Makes sense why J&J would sign the first right of purchase if they are looking to acquire working tech that they can get to market quickly because the products have already been developed with manufacturing in mind. EPGL's products and tech were fit into lenses that go through the current manufacturing process, so they don't have to alter manufacturing of the lenses. This makes the time to market much less.
2. Michael didn't tell us where they were at in the 2 year plan. Yet by stating they are further along than they realized compared to other smart contact lens developers, and knowing that their patents are being granted recently and shortly in the coming weeks it looks like the process for development has already begun. In order to file patents and work through the challenges that manufacturing can create EPGL has had to make prototypes and samples to run through manufacturing and development. While they don't have the full product yet, Michael and David made it very clear that each patent is a major building block of the smart contact lens. Once you take all the patents and put the technology together in one lens you have the whole package. So sounds like with the 16 patents domestic and international they are in really good shape and have been developing all long, so the 2 years may come much faster than we think.
3. Coopervision compensated them for their tech. EPGL was able to secure the rights to the check and secured the compensation that was due them for the time in development and R&D for Coopervision as they had arranged in the original agreement. No one knows exactly how much they paid them, but due to the 2 years they spent on the R&D and tech I would imagine it would a sizable amount of funds.
Every shareholder was invited. Michael & David showed up and taught investors for 1 and a half hours and they stayed around and answered questions for anyone who wanted to stay and ask them.
They didn't give out any non-public information, but clarified a few things and really gave a lot of insight as to why they filed these specific patents. It was pretty fascinating to hear how they found what the difficulties were in developing a smart lens, then they were quickly able to find ways to overcome those issues and solve them to allow for manufacturing of smart contact lenses within the current manufacturing process. I wish I was eloquent enough to describe all the said, but I am not. Truly fascinating thinking that we are on the cusp of this technology and those of us who are invested in EPGL are initial adopters of a stock that is on the verge of changing technology and mobile use as we know it.
Short term gains are not going to be the way EPGL investors make their money. Buy and hold is the best, because at any moment really a larger company could come in and make an offer for EPGL. Once they do J&J has the right to match it. There won't be any notice or warning. It will just happen. Then if a price is determined the key will be holding shares. Flipping this stock at this point could be dangerous.
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