OAK (ASX) Ann: Quarterly Activities and Cashflow Report-XPE.AX

Originally posted by vintage ↑

Generally found the Quarterly positive – but agree with some of the comments re transparency of spending and have some disappointments re progress – particularly with Intel porting and no news on the car audio or lighting projects, previously mooted.

In fact, I am wondering whether we missing the boat with Intel?

On June 9, we had:

Xped “is excited to announce it has completed the final step of testing ADRC services against Intel(R) Moon Island gateway platform on the Advantech hardware.

This last phase fulfils the requirements of Xped in completing the IoT gateway solution to demonstrate ADRC capabilities on Moon Island and will now seek verification from Intel(R).

The Company expects upon verification of the ADRC end-to-end solution running on Moon Island gateway platform, further engagement to begin with Intel(R) customers and OEMs looking to expand their gateway offering with ADRC integration”

In the June Quarterly, the company further announced that:

“The Company was developing a Mini PCIe card with ADRC functionality to allow compatibility with leading Intel(R) IoT gateway manufacturers including Advantech and other OEMs who offer the Mini PCIe expansion slot in their gateway devices.

The Company has since built a small number of demonstration kits of ADRC gateway software running on Intel(R) D2000 chip on mini PCIe card and configured on Advantech hardware running Moon Island gateway. These were recently shipped overseas to Intel(R) for their testing and review”

But the September Quarterly implies that none of this has happened – no verification and no meetings with OEM’s etc. Instead we only have this:

“The Company has built a small number of demonstration kits of ADRC running on Intel(R) D2000 chip on a mini PCIe card and configured on Advantech hardware running Moon Island gateway. These were previously shipped overseas to Intel(R) for their testing and review.

With the recent recruitment of Martin Despain to the Company, he will be leading the potential business development opportunity with Intel. Updates will be provided to the market upon any progressions”

Note – “he will be leading” – not “IS leading” and market updates “upon any progressions”.

Why has there not been any progression since the last Quarterly??

Particularly in view of last weeks’ IOT Solutions World Congress at which Intel and its Solutions Partners played such a large part.

See http://www.intel.com/content/www/us/en/events/iot-solutions-world-congress-barcelona-2016.html

Xped was not amongst the Intel partners demonstrating or exhibiting at the Conference – despite the relevance of the topics.

http://www.iotsworldcongress.com/exhibit/2016-exhibitor-list/

I find this disappointing.

There is also the recent release of the Atom microprocessors for IoT. Does Xped have a role to play here? Where does this leave Quark D2000 (i.e. the chip that Xped used for the Moon Island Gateway porting)?

http://www.pcmag.com/news/349047/intel-unveils-atom-processors-for-iot-auto

Not saying that Xped can’t catch up but the apparent lack of progress in the context of recent progress is concerning I would have thought.

Interested in all genuine comments on this.

Expand

Can I suggest an email to the company seeking clarification on this and also the financials might be in order?

I have already had responses from Athan Lekkas regarding suggestions for corrections/improvements to website, so he may feel it worth responding to one or two HC posters knowing it will be posted on here rather than being flooded with calls and emails on the same topic.

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Ann: Quarterly Activities and Cashflow Report-XPE.AX, page-121

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