Monday, February 8, 2021

Is a Strategic Investment in eMagin by Intel imminent?

12/2016 ManTech -

eMagin - Established capability of on-shore foundry for advanced backplane wafers for OLED deposition

page 22 - https://www.dodmantech.com/JDMTP/Files/2016_ManTech_Brochure.pdf

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1/5/2018 eMagin US based chipmaker PR -

Separately, the Company announced an agreement with a U.S.-based chipmaker to support scaling of mass production for the consumer AR and VR markets*. This agreement will provide supply chain development assistance for eMagin to enable prototype and mass production of OLED microdisplays. As part of this agreement, eMagin’s partner will provide raw materials sourcing support necessary for scaling to mass production while helping the Company meet the cost requirements of high volume consumer segment original equipment manufacturers (“OEMs”).*

https://www.emagin.com/investors/press-releases/news-2018/163-emagin-to-demonstrate-their-highest-brightness-2k-oled-displays-at-ces

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5/2018 - SID Display Week 2018 Session 40

eMagin Chair w/ Intel presenting -

OLED AR/VR OLEDs ; Artificial Intelligence and Augmented Reality and Virtual Reality

Wednesday, May 23 / 03:30 PM - 04:50 PM / Room 502B

Chair: Tariq Ali, EMagin Corporation***,*** Hopewell Junction, NY US

Co-Chair: Jang Hyuk Kwon, Kyung Hee University, Seoul, South Korea

40.1 - Invited Paper: Next Generation Virtual Reality Displays: Challenges and Opportunities (3:30 PM - 3:50 PM)

Kunjal Parikh, Jim Zhuang, Kim Pallister Intel Corp. Santa Clara CA US

Jun Jiang, Marshall Smith Intel Santa Clara CA US

High ppi compact form factor requirement is being described using micro-display as key enabler.The trade-off between FOV, size and scalability to meet price targets will be discussed. Overview of system impact using novel display design with Intel’s key technologies will be presented to give holistic view about product vision.

Packed crowd -

https://twitter.com/LEXOS_lab/status/999424459898470401

Atendee SilkyZen states "Intel is going to be the production partner for eMagin" -

SilkyZen

Well, really surprised that after the Intel presentation this didn't move much more, really strange.

At about 3:30pm PT yesterday the Intel guy opened the OLED in AR/VR session with the comment along the lines that they see OLED microdisplays as the future display engine tech for AR/VR, followed by "here is an example from our technology partner Emagin", either I misheard or Intel is going to be the production partner for Emagin.

SilkyZen

the OLED AR/VR session at the SID display week.....

http://aceofsp.blogspot.com/2018/06/and-we-have-contemporaneous_19.html

Slide presentation w/eMagin on slide #7 (also note Metalenz on slide 10)

https://imgur.com/5YZHIuT

https://imgur.com/kT38aVC

https://imgur.com/4YcxPVK

https://imgur.com/V0cRBXb

https://imgur.com/RUZ5XlZ

https://imgur.com/osZ0hGM

https://imgur.com/6mJn2RZ Micro-OLED Revolutionizes VR - eMagin

https://imgur.com/uxT5DPB Visual Acuity Matters

https://imgur.com/H7mhtO8 Key Challenges - Size & FOV

https://imgur.com/jF32BfD Optics - Key to Disruption - Metalenz

https://imgur.com/cHrv9S1

https://imgur.com/tV8UKqz

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1/28/2021 Intel Divests from Vuzix giving them $67m in capital to reinvest -

Vuzix Co. (NASDAQ:VUZI) major shareholder Corp Intel sold 4,962,600 shares of the business’s stock in a transaction dated Thursday, January 28th. The stock was sold at an average price of $11.51, for a total value of $57,119,526.00.

https://rivertonroll.com/news/2021/01/31/vuzix-co-nasdaqvuzi-major-shareholder-corp-intel-sells-4962600-shares.html

On January 28, 2021, the Purchaser converted all of its shares of Series A Preferred Stock into 4,962,600 shares of Common Stock. The shares of Series A Preferred were retired and cannot be reissued. On the same date, the Company and the Purchaser entered into a Dividend Settlement Agreement pursuant to which the Purchaser agreed to accept $10,000,000 in cash in full payment of all accrued Series A Preferred Stock dividends in the approximate amount of $10,800,000.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1463972/000110465921009458/tm214710-2_8k.htm

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1/28/2021 Intel publishes patent app for metalens

DISPLAY DEVICE HAVING INTEGRATED METAMATERIAL LENS

  1. The augmented reality device of claim 1, wherein the emissive display element comprises one of a light emitting diode, an organic light emitting diode, or a vertical-cavity surface-emitting laser.

[0002] Augmented reality device technology, including augmented reality headsets and the like, is an area of emerging interest. For such devices, it may be desirable to have a display device that provides red-green-blue (RGB) colors (e.g., full color) in a compact package with high brightness, collimated light, high contrast, low power, and low manufacturing costs to provide high quality products for users.

[0033] As discussed, FIG. 2A illustrates an augmented reality system implementing a micro-display with an integrated metamaterial lens

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20210026248&OS=20210026248&RS=20210026248

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2/4/2021 Intel Invests in Metalenz -

Metalenz made its plans public today and announced $10 million in investment from Intel Capital, 3M Ventures, Applied Ventures, and TDK Ventures, among others.

https://otd.harvard.edu/news/harvards-metalens-technology-enters-commercial-development

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1/27 - 2/5/2021 eMagin Majority Shareholder Stillwater reduces ownership below 10% of outstanding common .

Filing 1/27/2021 -

https://www.sec.gov/Archives/edgar/data/1046995/000090571821000098/xslF345X03/emagincorp_fm4jan252021.xml

Filing 2/5/2021 -

https://www.sec.gov/Archives/edgar/data/1046995/000090571821000134/xslF345X03/emagincorp_fm4feb32021.xml

400565 + 1283501 + 4250000 + 783325 = 6,717,391 common shares still owned

6,717,391 / 67.5m outstanding

= 9.95 % ownership

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1/28/2021 eMagin Majority Shareholder Stillwater seeks valuation of outstanding Preferred Shares

The Series B Preferred Stock, when issued, was convertible into Common Stock at a conversion price of $0.75 per Share (the “Original Conversion Price”). Based on information disclosed in the Issuer’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on November 12, 2020, there were 67,499,602 Shares deemed issued and outstanding as of October 31, 2020 and 7,545,333 shares of Common Stock issuable upon the conversion of the Series B Preferred Stock. The Shares and ownership reported in this Amendment No. 18 reflect the Original Conversion Price; however, Stillwater and Ginola are currently reviewing all sales and issuances by the Issuer. Such review could result in a lower conversion price resulting in additional shares of Common Stock issuable pursuant to the Conversion of the Series B Preferred Stock. Stillwater and Ginola believe the conversion ratio is not greater than $0.50, due to the Issuer’s offering of Common Stock to an institutional investor at $0.50 per share on April 11, 2019, as reported in the Issuer’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 12, 2019. In addition, on January 27, 2021 the Issuer communicated to Stillwater that the conversion price is likely less than $0.50, due to certain sales of Common Stock at lower prices under the equity program created pursuant to the At The Market Offering Agreement dated November 22, 2019, as amended, by and between eMagin Corporation and H.C. Wainwright & Co., LLC. Stillwater and Ginola have requested clarification from the Issuer regarding the applicable conversion price for the Series B Preferred but have not received any further information as of the time of filing this report. 

https://www.sec.gov/Archives/edgar/data/1046995/000090571821000096/emagincorp_sc13da18jan252021.htm

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Intel clearly has eMagin in its sights as evidenced by the SID Display Week 2018 Session 40 presentation with (eMagin) micro OLED as a "key enabler" to AR/VR . Intel's interest also extends to complementary Optics company Metalenz .

The capital structures look to be rearranging with Intel's divestment of Vuzix and subsequent investment in Metalenz . At the same time eMagin's Majority Shareholder adjusted their investment in eMagin to less than 10% of outstanding common shares and seeks clarification of Preferred valuation .

Saturday, January 9, 2021

NavSight Holdings (NSH) - Near NAV SPAC Targeting Company Similar to Palantir

Good day fellow SPAC investors. I am back with another company trading close to Nav that I think has immense potential to find the next Palantir. I am hoping to generate some discussion around this and get others thoughts on this company. As always, I am by no means an expert, so do your own due diligence.

NSH - NavSight Holdings, Inc. - 10.21

Why I invested: The leadership of this SPAC is dominated by multiple people who have spent their careers working in national security as well as providing differentiated expertise and technology to U.S. government customers in support of their national security, intelligence, and defense missions.They have worked at top government agencies in this area including the NSA, have grown businesses in the space and have invested in many others. In doing this, they obviously have developed an extensive network of contacts and relationships which will provide substantial sources of acquisition opportunities. They should have a lot of insight into finding an ideal SPAC that will hopefully be successful and provide a great return to investors. For me, this is a company that could invest in the next Palantir and I am hopeful that it will be something that I can hold long after the merger. My guess is that this will be in the cybersecurity space based on the leadership’s past experience. I have little doubt that they won’t find an ideal target as this is such a niche market that other SPACs are not targeting and the management team has so much experience in it.

IPOSize: $230M

Target: US government national security, intelligence and defence vendors in the tech space.

Companies that:

  • Are differentiated expertise and technology to U.S. government customers in support of their national security, intelligence and defense missions.
  • Have a defensible market position, possess a track record of maintaining and growing long-term customer relationships, and derive a majority of their revenue from prime contracts;
  • Hold positions on large multi-year IDIQ (indefinite delivery, indefinite quantity) contracts and programs, and/or possess proprietary technology and and/or can deliver specialized capabilities;
  • Have sole source positions on high priority and well-funded contracts and/or programs that can result in above average profitability margins;

Leadership:

Robert A. Coleman

  • Founder, CEO and President of Integrated Data Systems Corporation, acquired by ManTech (defence contracting).
  • Co-founder of Six3 Systems, Inc (cybersecurity, intelligence, surveillance, and reconnaissance services and technology to the Intelligence Community and the Department of Defense).
  • Former senior positions with Raytheon, SAIC and the Office of the White House.
  • Advisory board member of the National Defense Industrial Association.
  • Board member of BlackHorse Solutions (digital security), and Lookingglass Cyber Solutions (cyber security).

William P. Crowell

  • Former Deputy Director of National Security Agency.
  • Former Chairman of Broadware Technologies (Video surveillance software company).
  • Former Director ArcSight, Inc (public security), Six3 Systems, AirPatrol Corporation (information security), Fixmo, Inc (mobile device security), SafeNet, Inc (encryption, data protection, and authentication solutions company).
  • Former President and CEO Cylink Corporation (e-business security solutions).

Ambassador Henry A. Crumpton

  • Partner at AIM13 CVP (Venture capital firm focused on investing in emerging technologies, especially in the defense, national security and intelligence domains).
    • Invested in Trinity Cyber (Cybersecurity), Whitefox (Drone airspace security), Allied Bioscience (Antimicrobial coatings).
  • Former Deputy Chief (Operations)Counterterrorism Center, Chief of the National Resources Division at CIA.
  • Former Deputy Chief of the International Terrorism Operations at FBI.
  • Former Coordinator for Counterterrorism at the U.S. Department of State.

Gilman Louie

  • Chairman of Lookingglass Cyber Solutions, Inc. (Cybersecurity).
  • Founder and former CEO of In-Q-Tel (CIA venture capital fund).
  • Board of directors, Maxar (Space technology).
  • Former Committee on Persistent Forecasting of Disruptive Technologies for the National Academies and member of the Markle Foundation Task Force on National Security in the Information Age.
  • The person who licensed Tetris.

Jack Pearlstein

  • Involved with 40 acquisitions, mergers and divestitures.
  • Former Executive Vice President and Chief Financial Officer of Cision (software and services to public relations and marketing communications professionals).
  • Former CFO of multiple tech/software companies.

Friday, January 1, 2021

Any experience with Mantech Lasertech Desktop Co2 laser? Or with Mantech?

Hi everyone, I’m considering purchasing the Mantech Lasertech Desktop Co2 laser later this month and there is currently a 3 month waiting period in the UK for it. Before I commit does anyone have any experience with this company or with this laser? I like that it’s a UK based company, so I wouldn’t have to import it and they appear to have good customer support. They also give you training on the machine, when they install it. I want to use it for a mix of glass etching (they have a rotary axis included) and small wood signs.

Any response would be greatly appreciated.