"Hello Arthur,
Please feel free to repost via social media any of the content in my email to you. You may do so on the condition that you do not change my message or meaning in your posts.
For you info I am based in Silicon Valley and the time zone means that I do not always see emails immediately.
Thanks again for your support and interest in Xped.
Best regards,
Chris"
The original message was this:
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Your recent email to Xped
CW
Chris Wood
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Yesterday, 10:31 AM
You
You replied on 11/11/2016 11:36 AM.
Hello Arthur,
Thank you for your communication.
The current business plan involves making strategic acquisitions that are a good fit for Xped’s IoT ambitions, have good growth potential and bring early revenue also to engage with strategic partners such as Telink, Intel, Microsoft and others and use their sales forces to drive our BD. This strategy is designed to bring early revenue, keep costs down and give Xped the time to finalize its product developments and get some deals in the bag.
The issue of incentives for executives is a tricky one.
In the case of Athan as the CEO, his job is to deliver on finding the right people, the right strategic and funding partners, the right acquisitions and putting in place the money required to make it possible. So far he has delivered on this in spades. As you know he was responsible the JCT acquisition, secured a collaboration agreement with Telink, attracted Dr. Wenjun Sheng (Chairman and CEO of Telink Semi-conductor), executed a licensing agreement with Telink, set up all of the JVs with Complex Semiconductor. Athan also jointly managed and ensured our relationship with Intel flourished, he convinced Marty to leave a secure highly payed job at Intel, raising roughly $12m and the list goes on. Athan is a core to the current and future success of Xped. He deserves to be incentivised for what he has achieved so far and to keep him running at this pace.
I have read some of the posts on Hot Copper, the negativity towards Athan is misguided and in my opinion a disgrace. There appears to be a small group deliberately fuelling negativity and we have a strong indication of who they are. Social media is not an appropriate avenue for commenting on these matters and shareholders who do have a strong opinion should write directly to the board to voice their concerns. I have a very low opinion of those individuals involved in trashing Athan’s reputation in the social media; they don’t even have the guts to say who they are. However your approach is to be commended.
Athan has created an enormous amount of value for the company and it is critical that we retain his services. Please also note, that Athan is not receiving USA based living costs, accommodation, vehicle and living expenses, as mentioned above it seems to be the same group of people that are deliberately creating negativity.
In the case of Marty Despain, as I mentioned before, he left a secure highly paid job at Intel where he had been employed for over 10 years to join a risky start up. His experience in sales and marketing of high tech products is impeccable. His contacts in the USA and Asia are extensive and current and give Xped a hot start. He needs to be incentivised to perform on the business development side and to keep him bound in with Xped. Together with Athan and the rest of the Board, we have forged a high performance plan to deliver exceptional value to our shareholders, please refer to the investor presentation.
The topic of executive remuneration has been raised directly to me by several shareholders, it is important that we incentivise the right people in our organisation. There board plans to meet over the next week or so to discuss this and other matters.
Best regards,
Chris Wood
Co-founder and CTO
Xped Limited
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This is like getting a letter from Bill Gates when he was working in his basement whilst dreaming of Microsoft. When the SP hits 24 cents, this is going to be proudly printed, laminated and framed and hung in my clinic!
(20min delay)