No Gold, my silence so far just means that as soon as I got back from Portland, my "real job" got in the way of my "fun time!" LOL
I apologize to everyone for the delay. Before I say anything else, there are a few things everyone should know. I am NOT a "tech guru" of any sort, whatsoever, but just a regular guy trying to make some money the "honest way" in whatever investment "I choose to own." I have my own opinions based on my own "gut feelings" AND observed knowledge, but I ALWAYS admit that I could be wrong. Lastly, I don't count on anything, UNTIL it happens, IF it happens at all. With all that said, here are my "notes and observations" from the meeting.
The overall mood of everyone present was jovial and optimistic, and it seemed that there were several more shareholders present than last year. It was very good to see 427Cobra and several others present who I recognized, and I enjoyed meeting Destiny and Deeba, and having good conversations with everyone.
The meeting was short (only about 85 minutes), and at the end, there were only about 10 minutes left available for Q & A, with the Board meeting beginning promptly at 12:30. Brad kicked off the meeting by welcoming everyone and then covering accomplishments of many goals set out at last year's meeting - such as product development, financial condition improvements, employment growth, and sales "networking" accomplishments.
He talked about the first purchase order from Extreme Copper, and how this was such an important milestone for RIM, and how other anticipated orders from E.C. and other customers would prove the technology trials to be successful. He said that RIM's plan is to "license" the technology to its customers, so as to minimize the cost of manufacturing, and take advantage of the engineering talent of our customers to provide increased shareholder value. I believe he mentioned that shipment of the initial order to E.C. would begin as early as next week.
After that, the proposals as presented in the proxy were voted upon, and it was later announced that all 4 had passed by wide margins.
From there, the majority of the presentation came from Bill Narin of the newly formed IPSL.SIG. This group is to become the "vehicle" with which RIM will introduce customers to our product line, and license the technology to them, generating future revenues. The presentation was very detailed, very impressive, and provided an excellent example (in my opinion) of how the best plan is to develop the "non-proprietary technology licensing model" as our path to success, instead of becoming a more typical "manufacturer" and seller of chips. I am assuming that, since the entire meeting was videotaped, it will once again be available over the RIM website so that everyone can better understand this information.
As I stated before, Q & A time was VERY limited, and only about 3 or 4 questions were asked. One question concerned the process by which revenues would be recognized and realized, and when this would occur. Brad restated, as he explained last year, that revenues would be realized after a purchase order has been filled, there was no reason to believe that shipments would not be accepted or altered, and that payment had been received. Following that process, "I believe" that we will see revenue realized from the E.C. purchase before the end of this current quarter.
Another question concerned how shareholders would know about the success of the technology trials, and what form of "announcement" this might be disclosed. Brad stated that no formal announcement of specific "results" would take place, but instead one will be able to judge, from the "announcement of future purchase Orders" from customers, both the success and the acceptance of our technology. Also, the list of "members" of the IPSL.SIG, as this list grew in size, would validate the success of marketing efforts, and the overall "increased acceptance" of our product line and its applications.
Questions that were NOT asked, but were discussed both before and after the meeting by several shareholders, concerned "patents," and lack of "venture capital" interest in the company. As to patents, the general feeling among the group was that it didn't really make any difference how many patents were actually "owned or developed" by RIM since by acquiring those patents (either by licensing, or by taking over another company), we had the full rights and more than enough protection to feel comfortable about "owning" them.
As to venture capital, it was believed that venture capital firms do NOT invest in companies that are already "publically traded." Also, "institutional" investors really don't show interest in ANY company having a stock price of less than $1.00.
Here's the "bottom line as "I" see it, and this is purely "MY OWN" feeling... Everything that was presented and discussed was extremely well thought-out, professionally presented, and well detailed enough to make me feel that RIM is a legitimate, potentially profitable, start-up, high tech company. I truly feel that in the next 60 to 90 days, we will know whether or not RIM will have an accepted and successful product, in the field, fully operational, and generating an ever-increasing stream of revenue. How widely accepted and successful it may become is still subject to speculation, and continues to make RIM stock remain as a "risky" investment. But, from what I "know," and from what I "feel," I personally am willing to take that risk and look forward to what I view as a potentially great success.
AGAIN, all of you are free to form and express your OWN OPINIONS, and I WILL NOT ARGUE WITH ANYONE as to whether I am either right or wrong. That remains to be seen.
I will say that I am both impressed with, and comfortable with, the opinions and information being put forth by "ozborne22" (who, judging by his "depth" of knowledge, was either AT the meeting, or knows someone who was) here on iHUB, and by "destiny" on the "tick tock stock" board, at this time. I will follow their postings as they are presented, and I would recommend others do the same. What anyone actually DOES with that information and those opinions is strictly up to all of you as individuals.
I'm sure there were several things I've left out, not intentionally, but that's the BEST I could do.
I "hope" to see many more of you at next year's meeting, I encourage everyone to watch the anticipated videotape of the meeting for more details, and I continue to wish EVERYONE the very best of success with ALL of your investments.
Respectfully submitted,
HopefulOne
