For Steven:
Q1. What parts are reliable?
That they are working with at least one foundry and have had success creating polymer modulators with them. That they are trying hard to overcome hurdles. That they have gotten some very nice results and that they have made some progress with foundries. That Polariton and Silorix are excited to work with them. I think it is reliable that they are working with a large foundry and it likely is GFS, but I suspect it is moving slowly there which may not be their fault at all. The white paper with Ayer and GFS people suggests to me it is moving slowly since the main message is that they finally are able to use exotic materials that includes polymers. They could of course be doing other work with GFS that doesn't include Ayer technology
Details on yield, scalability, and the pathway to commercialization haven't been given so I remain skeptical of all timeliness because those timelines may well be relying on assumptions about overcoming hurdles that may pertain to one or all of those.
Q2. Prior to this year's ASM I would have said he is accurate in terms of what has been accomplished, so - a 9 or so, but that he gets about a 3 in terms of the perception left with shareholders..For example, when he reviewed the 2021 goals he went through each and likely told the truth about each, but the perception was that he got 6 of the 8 and they did 'pretty good'. But when examined one by one, it didn't appear they had progressed near as much as 6 out of 8 would lead one to believe -- ie the perception. The sticky details those. And in terms of timeliness I would give him a 1 or 2. It may be that it's just too difficult to predict the science and he errors on the side of being too optimistic. However, with this year's ASM my impression is that he misled investors as to what they had accomplished, which is a cardinal sin, both with regard to the significant of the commercialization agreement, and the status with Foundries. SO I rate him a 2 or 3 in accuracy at this point. It may be that it was just poorly delivered, but it seemed very intentional to me coming on the day of ASM and knowing as we do now that the agreement likely was with Polariton and not a Foundry.
AI
