The Admiral is the man in charge for the call and going forward.
The 10-k Business Strategy section indicates the Admiral is solidly in control. It dropped "seasoned executives" from the list of personnel the Co. wants to attract, Point 6, pg. 15. So glad the Board checked off this crucial item.
EOvation Advisors led by Dr. Fred Leonberger is the external firm helping to streamline our product development process, pg. 15. Seems to be another good strategic move.
Prof. Alan Mickelson's Guided Wave Optics Lab at U of Colorado, Boulder, has vaulted into the leading position among Strategic Partners, pp. 16, 19. Last year it was at the bottom of the list.
Other Current Strategic Partners are EM Photonics, Boulder Nonlinear Systems, and U of Delaware. All are new and well described, pg. 19. Implies ability to make hard decisions, focus on current needs, and realign strategic direction and partners.
Commercial development is with various private firms. "We plan to aggressively pursue sales of our potential products through the use of industry-specific sales organizations, such as electro-optic component representatives and distributors. In addition, we plan to target market leaders as initial customers and to leverage relationships with these market leaders to obtain future contracts and sales references." pg. 15. No government agencies for now:
"We are not partnered with, strategically related to, or financially supported by any governmental agency at this time." pg. 19. This seems to qualify the addition of NSF to the Strategic Relationships list (pg. 16) as noted earlier by PurpleCritter. This will no doubt change; let's keep watching.
Our Proprietary Products in Development shows that Perkinamine Indigo is added to the mix for device and component development and testing. Each paragraph has focused details on the device, sometimes names the collaborator or type of Perk used, and often the current stage. Will repay careful reading of pg. 18. Optical Limiter is dropped from this list.
The section on Our Competition again states: "We believe that through the commercialization of our technology, we will be poised to obtain a significant portion of the component manufacturing market." But it dropped the final sentence of that paragraph from the 2011 10-k: "In the expectation of becoming the sole producer of high-performance, high-stability electro-optic materials, we hope to capture all or some of this potential electro-optic component market." pg. 20.
Risk Factors receive more space, emphasis, and detail than last year. Each heading is now in bold-face type. I'm guessing that input from Ron Bucchi and comments by Dr. Leonberger and Chuck Olson may play a part as well. To me it shows increased awareness of the competition as well as internal obstacles that have to be clarified, then addressed and overcome to make progress.
In sum: More realism, less bombast, better SWOT analysis (or a similar tool). Many gains, and a clearer vision of the heights yet to be scaled.
News 
Market Data 
Discover 
AI
