Bob: May be a little too soon (even now) to invest in any "scaleup." My understanding is that even now GAD has not perfected any process for mass producing low cost gallium arsenide diodes. It is questionable at this point what amount of money, if any, could solve that problem. As has been pointed out numerous times, MOT, SGS Thompson, etc. have the capital necessary to invest in a "scaleup." They have declined. That should speak volumes to anyone. What GAD obviously was looking for was a joint development partner to help attempt to DEVELOP the product and process.
It is understandable that scientists would be sympathetic to their fellow researchers. But, investors in ISSM believed that the research had already been completed and the process tested and ready to go. We were, as you know, looking for ORDERS.
International Semiconductor was never anything more than the financing vehicle for GAD. Whether they were shady penny ante stock promoters enriching themselves with offshore REG S deals or not is really irrelevant to the final outcome. Unfortunately, in business "goodness has nothing to do with it." (To use Mae West's phrase..:-) Bad guys can and do win, good guys can and do lose. If GAD had the technology claimed, investors would have been handsomely rewarded. They don't.....and we weren't!
Cathi
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