A quick brief on today’s AGMheld in Adelaide
Reasonable turnout (35ish)considering Covid and SA opening its boarders yesterday – and a fewSydney-sider's joining us “Mohammad and Bernadette” lol
Chairman’s address fromGreg;
First AGM where we are atotally Semi Conductor Company (no mining any more).
All votes went as expected;
Of note was the employeeincentive option plan with the strike price Approx. $2.30 which willbe issued in 3 separate trenches (1/3rd after 1 yearanother 1/3rd the next year and the last 1/3rdafter 3 years) this way it will certainly tie down key employees,especially if we are achieving share price growth year on year(although based on today’s price action that may be harder toachieve….lol). IBM I think the strike price could be higher but insaying that it does give the company employees a chance to be wellrewarded if they grow the SP well above the $2.30 target…
Got introduced to Bernadettefor the first time… She certainly has the credentials having workedin high level IT management (including IBM) in America, Europe andAsia…
Bernadette will be managingthe strategic path forward for both the 12CQ and the Bio-Chipobviously in conjunction with Mo and the team. And would have manycontacts/connections in the fields we need to be in.
Enter Mohammad to the stage;
Talked about the following (inno specific order)
Mo talked about the minimumtime that they have had in the labs due to the 6-month lockdown inSydney and talked up what they have achieved since they returned(they achieved in 2 weeks what may normally have taken 6 weeks) Thiswas partly due to the amount of home office time spent in lockdownallowing them to plan etc…
As much as AXE can talk topeople via Phone/Zoom etc etc the importance of face-to-face meetingsshould not be underestimated and both him and Martin have wasted notime in heading overseas – Martin has been in Canada (see AGMpresentation) over the last few weeks and Mo is on the plane to NorthAmerica as we speak. Both wasting no time now the borders are opening– had a bit of a laugh with Mo about the amount of covid tests he'shad to have to finally travel…..!!!
A couple of comments Mo madethat brought a smile to my face and I’m sure many others that readHC…
First one was about slide no.8 (of the AGM Presentation) Note; the testing machinery “instruments”etc – where bought by AXE from Germany and then assembledthemselves… We had a down ramper poster telling us this wasyesteryear equipment and that was not how testing was done… haha
The second was a general comment about people that appear in previouslab photos on AXE presentation slides … These are all AXE workersWORKING… I think this was a little dig at a news article mentioningwe had no staff working at Archer…. Lol
I asked about Patents and any updates…. I thick we all know we arewaiting on the 12CQ patent from HK, Europe and Australia… so noupdates available to be given.
I did ask about the Bio-chip Patents and it should be noted that wehave only applied for these in the US and Australia, so I wouldassume/suggest that we will be looking to partner a US (NorthAmerica) company to fully develop this world changing technology….!!!
And maybe for both the Bio and 12CQ - was the purpose of Martinvisiting Canada….? That’s just me putting that out there...orjust read page 10 of the presso….lol
Moving forward I did ask about the next 6 months and what’s Mo'stargets..? and as hard as it is with these technologies beingdeveloped as a worlds first, these are the soft answers I received;
Patent updates
Control of the 12cq Chip
Partnerships
Developing IP's
It was mentioned that even Microsoft hasn’t achieved what AXE hasmanaged to with our 12CQ which just goes to show how honoured we areto have the likes of Mo and Martin driving this world changingtechnology...
Over all, the meeting was as positive as expected and provided agreat opportunity for me and other shareholders to talk face to facewith the Board of Directors.
The one negative was the way the SPP was handled and one fellow shareholder took an issue to this… scale back, how funds were returnedto SH etc – I’m sure Greg took that on board.
Plus there was a number of questions on China and the Trust level ofhaving our Patent in the hands of the Chinese – Mo seemed to bevery comfortable with this as many other leading US companies are inthe same boat...Patent are still the protection key we need.
To sum up - Mo is a supper driven genius of a person and is taking uson one fantastic journey... And when the market really starts tounderstand what he’s developing we’ll be looking at todays shareprice as pocket change….
I also think we have lost a year due to Covid and the restriction totravel overseas… As I have said previously if we were a US companyour value would be x5 today’s share price… and with Mohammad notbeing able to visit the US our story has yet to be taken seriously…as we all know it still gets questioned in Australia….!!!
Good luck to all holders and to those waiting to invest in AXE - its only the beginning..!
(20min delay)