AKP (ASX) Questions for AGM

Originally posted by scaine ↑

I have been invested with AKP since 2011, so I know very much how they operate with regards to announcements. I know when they make an estimate for a timeframe to take it with a grain of salt. I know not to expect too much information, and that the information we are going to get is likely going to be cryptic.

Having said all that I think it is fair to say that we should except the company (ANY company) to try and do better this year than the year before.

One thing that bugs me is the rhetoric that the company may not be able to demo at the AGM they don't have the chips available.
This is a very weak excuse. When the chips became ready for demonstrations they knew there was going to be an AGM right? I mean there is every year. and it is a requirement of being listed on the ASX.
It's not like they were like "ohh no we forgot about the AGM this year.. how could we.. silly me". The truth is they just didn't care enough to bother to prioritise the demo at the AGM.

Now MAYBE not demoing at the AGM is the correct call. Maybe the amount of chips/demo units they have is so few that they made a judgement call and prioritised the demo units for potential clients rather than show at the AGM.
Even this I find hard to believe because once again they knew the AGM was coming up so they could have scheduled the unit for transport well ahead of time. They could have optimised where the unit would be at what time and scheduled it to be in Aus for the AGM.
Even if there was simply no practical way to get the units to Australia, or it simply wasn't worth the effort / trade off. They certainly could have communicated this better.
Honestly if there is a business case for not doing a demo it at the AGM, then I am all for NOT doing the demo. However, we should be told what the business case is, we should be brought along for the ride.. not given weak excuses.

As I said above I know communication is not AKPs strong suit and frankly I don't expect it. That doesn't mean we shouldn't complain and make noise (pun somewhat intended), hopefully each year they will get slightly better at it and perhaps in another 10 years will be marvelling at how professionally worded and well crafted their announcements are.

Venting done

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Scaine, sorry if I have created the impression there will be no demo at the AGM. I, like BobF above reside in New Zealand. Travel anywhere outside NZ requires some planning, particularly now with additional Covid related tests added to the list of things to do. I really do hope there is a demo at the AGM. Unfortunately I will not be present to listen and ask question due to issues outlined above.
Seems most interested parties are intending to be present and will be able to ask their questions in person.
I still intend to include a couple of questions on this forum by weeks end and will also as a matter of courtesy send to the company.
It also appears there has been no demonstration to the potential investor group being asked to stump up the $10m required for working capital. This is just my assumption as I would have expected someone would have heard about this by now if the presentation had been completed. Still plenty of time before the AGM for this to happen.
I do feel for AKP management and the directors. This latest lockdown in China must be incredibly frustrating as it seems critical components were expected from EM to complete the demo units. Add in loss of staff at the Israeli based development lab and it is easy to understand the delays to completion of demo units. Also, based on the 29 April 2022 report the technology has been advanced such that sound output and clarity has been improved. I see no point in demoing a product which you know and understand is not the latest version of available technology. I realise this cannot go on forever. At some point the development stage will reach a point of diminishing marginal returns. Hopefully AKP is at that point and they have now locked the recent technology improvements into the first batch of EM commercial production wafers delivered to AKP in late March 2022.
I also note AKP filed three new patent applications during the the last quarter. These take time to prepare and must therefore slow down other development initiatives, but are essential to protect IP.
The aspect of the 29 April 2022 report that I am most interested in is how "the public exposure phase of the company's industry-altering technology via a series of demonstrations" has been received? Did these demos in fact take place and if soo what was the reaction from participants? Did AKP receive any firm orders from potential customers privy to these demonstrations?
Publishing the results of independent testing of the MEMS device sound output might give comfort to some shareholders but in the real world of sound re production there is no substitute to actually listening to the sound in person. If it indeed is as clear as described to me by one who should know then I am willing to wait that little bit longer to listen to the holy grail of sound re production.