Attended the OVTI Shareholder meeting in person

I attended the OVTI shareholder meeting in person. This is definitely a first for me. Went to a shareholder meeting for the first time. About 50 attendees.

1. I like Hong. He looks like a straight up guy and more of an engineer. His presentation was excellent. I am convinced about this company's potential.

2. They did not reiterate their guidance but mentioned that they might do it soon.

3. One guy created a lot of noise about the conspiracy theory of shorts. For the record, I believe it's all true. Management listened but as usual promised nothing except that they are working on it. I sensed the folks were genuine throughout.

4. Raymond Wu can't seem to cancel whatever he has filed and so every Monday there is a sell.

5. Management should buy stock but no commitment there.

6. They were made aware of all the conspiracy theories. I used the NFLX example wrt Herb Greensberg and how he downgraded the stock at 10 and gave it a target of 4. Also, of how OSTK CEO came out with a lawsuit against the short attackers as he and family owned most of the company's shares. I spoke to CFO Peter in person about the shares shorted of 20.7 Mil on a company that has 58 Mil outstanding. He himself was surprised about how they could get so many shares to short considering institutions own 80+%. Peter looks like the Field Marshall of the Indian army, Sam Maneckshaw - no kidding :)

7. XBOX will have a camera. They didn't say they were supplying the chip for it but said that they are aggressively pursuing all opportunities (with a large smile).

8. Automotive Industry can have chips installed for
- Rain sensor
- Lane departure warning
- Rear view camera systems
- Smart air bags.
Projected 20 Mil chips for 2008.

9. Wavefront coding based chips will come out mid-2006 and will have auto focus.

I came away with a good feeling over all. Vicky got it bad because of her poor communication with the invesotor community I am even more convinced on the short conspiracy theory. There was another guy there who made a lot of comments about how he knew about the shorts conspiracy theory.

Not sure if this helps anyone but I thought it's fun to see and speak to the management of the company that I have followed for more than three years.