I was at the Dallas meeting today. I think there were others there who probably took better notes and can give a better accounting of the meeting, but I will offer my impressions which are ambiguous in many ways but positive in main. I am writing this from a few sketchy notes and from memory. These impressions are not necessarily offered in the order they appeared. Moreover, since I found Rich to be the most interesting of the three, most of what I say comes from his section of the meeting.
The presentations given by John, Rich, and Jennifer were all upbeat and positive. Whether we were told anything specific would all depend on your point of view. Rich did say that he expected a prototype to be ready for testing sometime this summer (late summer). He also stated that if more funding were to become available that the time line could reasonably be pushed forward. When asked what that additional funding could do, he replied that it would make it possible to put additional man power to work. In other words, they could use a few more capable people, but can't afford them at the moment. When asked about the possibility of selling the company's rights to the movie to secure immediate cash, Rich suggested that by using a slower time line, the movie revenues themselves might support the project to completion.
To be honest most of the hard questions (and I don't think that many hard questions were asked) were not answered directly. Of course, they couldn't be. That's the nature of the restrictions placed on public companies today. Therefore, we were left with trying to read between the lines. There was a lot of that, but what I read between the lines and what someone else might read can be quite different.
Rich was honest is saying that the company two years ago thought they were there before they were. He alluded to the shake up in the company last August, and the shake up in the world last September as being huge hurdles place before the company. He went on to say that he believed those hurdles have been overcome for the most part.
To the critical question, and the only one that really matters, when asked will we have a product that works, he answered yes. That could have been a song and dance routine, but it didn't seem to be.
Something else of significance was the Rich said that two milestones will be reached in the foreseeable future. What those milestones are a matter of speculation. My speculation is (and this is only my speculation) that one might be a white paper of some kind. My feeling is that the other milestone might be some kind of change in management. Understand that I could be completely off base with either of those. In any case, Rich suggested that these two milestones (and milestones was his term I think) would be positive in their effect upon the company.
Something else Rich said about the noise problem. I think he used the term "rate adaptive system" and I picked up the phrase "looks at the noise and allocated energy where the noise is not."
He also said that NVEI will never be a service provider. The company with build chips and hybrid with others.
John and Jennifer's presentation were more to the business model and promotional efforts to improve stock value. Someone else might want to comment on those aspects. For me the bottom line still remains, do we have a technology that will work in the real world, and can we get it to that world.
The answer given to us was in the affirmative. Do I think we will see this stock explode any time soooooooon? No, but I could be wrong. Will the stock move up in the near future? Now, that's a possibility depending on what those two milestones turn out to be. I think if the prototype shows positive results and if that happens sometime late this summer, we will see the stock move up then.
Also Rich admitted that the low stock price with the key to why we haven't merged with Hytek. This bothers me somewhat, mainly because for me it comes on the heels of the last abandoned merger we were going to do. But at the current stock price and since stock were going to be the purchasing medium, it wouldn't make sense to buy or merge with Hytek at the moment.
I was good to meet some of the faces behind the posts I have been reading these past two years. Interesting and congenial people. I hope to see you guys again.
