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Gold/Mining/Energy : Certicom Corporation (TSE:CIC, NASD:CERT) -- Ignore unavailable to you. Want to Upgrade?

To: Jordan Levitt who wrote (4679)	10/24/2001 7:43:33 AM
From: Ron Nairn	Read Replies (1) \| Respond to of 4913

My AGM notes as posted yesterday on SH... Kimo1 (ID#: 210442) RE: Williams on ROB TV 8:00 AM Tuesday 10/23/01 09:04 4266125 Just listened to ROB TV (interview was 8:10 not 8:00). Williams covered the essentials of the AGM. Confidence that Cash of $35MM US @ July 31 will suffice until profitabilty...Oct. 31/02. Burn rate is reducing. Refocus on core business which is/will provide sufficient cash flow to meet stated objectives. Since 1996 CIC has gone from 1 patent issued and 9 patents pending to 20 issued and 60 + pending. ECC is THE recognized standard globally and covers areas such as ANSI, ISO, postal and content protection. Under Rick's stewardship, the company planned to grow itself to profitabilty. Economic times changed, sales didn't materialize at the desired rate, R & D continued unfettered for too long, the rest is history. The new applications seem to be somewhat ahead of their time but, are expected to have significant future application. In the meantime, cost constraint and core functions will be the order of the day. AES WILL replace DES. New key sizes will be 128, 192 & 256. A 256 AES key requires 512 bits of ECC. It needs 16,000 bits of RSA. CIC is the leader in this regard. Remaining staff numbers 210 vs. pre cut 400. Williams reports they like what they are doing and share his commitment to succeed. I spoke directly to Scott VanStone after the meeting. He did not try to comment on the market price but remains convinced they will succeed. He's still enjoying his work and hopes to be more co-involved with the universities re CIC's science. Rick's focus was Silicon Valley to the extent that Canadian press was not nurtured. With the restructure, we should expect to see a more CDN focus. Administration is returned to Toronto. Surplus R/E is being subleased to reduce costs. They expect to be successful in this regard. A look to the future...the Gartner Group...by 2007, 60% of the population will use wireless data devices, 75% by 2010. By 2004 there should be 800 Million users. CIC's goal is to touch every wireless transaction. Q2 numbers will be out Nov. 29 at which time there will be a conference call. Greg Capitolo responded to a question about the likelyhood of a takeover. He played it down but said the company would do what was necessary to maximize S/H value. In summary, the meeting was without bloodshed. The 80 or so attendees expressed expected frustration with stock prices but seemed respectful of the new management team's challenges. Hope this helps. I remain long. Will I buy more at these prices? Yes-likely. Upside is significantly more than downside IMO. But first I'll watch for positive signs that the new team is functional. CSFB maintains its buy recommendation dated Oct. 18 at $4US for 12 months. Kimo