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Kopin Corporation (KOPN) CEO John Fan on Q4 2020 Results - Earnings Call Transcript

Mar. 05, 2021 6:15 PM ETKopin Corporation (KOPN)2 Comments
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Kopin Corporation (NASDAQ:KOPN) Q4 2020 Earnings Conference Call March 2, 2021 8:30 AM ET

Company Participants

Richard Sneider - Chief Financial Officer

John Fan - Chairman and Chief Executive Officer

Conference Call Participants

Glenn Mattson - Ladenburg Thalmann

Kevin Dede - HCW

Denis Pyatchanin - Needham & Company

Craig Rose - Axiom


Good day and welcome to the Kopin Corporation Fourth Quarter and Full-Year 2020 Earnings Conference Call. Today’s conference is being recorded. At this time, I like to turn the conference over to Chief Financial Officer, Richard Sneider. Please go ahead sir.

Richard Sneider

Thank you, operator. Welcome, everyone, and thank you for joining us this morning. John will begin today's call with a discussion about the market environment that we see and our progress in executing our strategy includes the sales activity and technology development. I will go through the fourth quarter results at a high level. John will conclude our prepared remarks, and then I will be happy to take your questions.

I'd like to remind everyone that during today's call taking place on Tuesday, March 2, 2021; we will be making forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, projections, beliefs, and estimates, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those forward-looking statements.

Potential risks include, but are not limited to, demand for our products, operating results for our subsidiaries, market conditions, and other factors discussed in our most recent annual report on Form 10-K and other documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update the forward-looking statements made during today's call.

And with that, I’ll turn the call over to John.

John Fan

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Comments (2)

Looks like the BOE investment turned south .

We entered into an agreement in August 2017 to acquire an approximate 3.5% equity interest in Kunming BOE Display Technology Co., Ltd. (“BOE”), which is located in China, for 35.0 million Chinese Yuan Renminbi (approximately $5.0 million). We initially attempted to make our investment but were unable to due to Chinese investment rules and we received an extension to make our investment. However, BOE needed to complete the fund raising and we agreed to transfer our rights to the equity to another shareholder of BOE.

page 38

@kramapple Thank you for the insight. Interested in how relevant that is to the overall picture. It appears they didn't lose any money (unless they paid for the right to make the investment),rather they just missed out on the opportunity to make the investment. FWIW - KOPN is my largest holding mainly due to rise the stock price.
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