Does that really make sense though? He's a very smart man. He gets emails every day from shareholders. He KNOWS what they want to know.
I can't believe he isn't smart enough to communicate very effectively with shareholders, so I have to conclude he doesn't want to.
Case in point: The Polymer Business Roadmap was in the 2019, 2020?, 2021, and 2022 ASM presentations. He REMOVED it from the 2023 and replaced it was SAM/SOM. He knew exactly what he was doing -- he made it appear that they had reached Customer Acceptance - the final stage of the Polymer Business Roadmap by removing it and telling us there is no need to review the prior year's goals for foundry work now that they had reached commercial acceptance. He put in unit estimations for '2024' to make it appear that now that they had reached Customer Acceptance it was just a matter of time before they shipped product.
That was intentionally deceptive communication imo. Why? because he was talking about 2 different things - the little deal with Polariton which still has never been named - not even in the 10k or 10qs - was NOT the acceptance of customers that would be using the units shown on his SAM/SOM!
You may ask - why didn't he keep the Roadmap and point out they had finally made it to Customer Acceptance (the term he actual used was 'commercial acceptance')? IMO it is because he KNEW that would age very poorly -- since the deal was from minimal revs of an entirely different, non-scalable product. He could have kept the slide and explained the difference between that deal and the kind of deal investors were expecting, but didn't.
That's why I said it was a bait and switch kind of thing. Not poor communication, but sneaky and deliberate communication. I don't give him a pass on this like you and others do. I just can't.
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