Dr. Leo Li, CEO & Chairman of Blue Ocean Technologies Inc

So I think that I met you the year that you took over as the CEO.

And I remember a meeting with you very specifically.

Spectrum was in a building and they had a restaurant there.

Yes, yeah.

That I think was a Spreadtrum restaurant.

So we met there.

Yeah, yeah, sure, sure.

And you told me... and this was October, November of 2008, that revenues went to zero.

It was zero, no joke.

It was very hard.

And then people really said, Leo, you are just stupid or what? Because, OK, the special was like almost 1,200 or 1,500 people down.

We laid out all the people down to 500.

And

then stock price from $12 or $15 all the way down to 60 something cents under a dollar for almost a year.

If you know NASDAQ, under a dollar for a year, you delist it, right? And secondly, the value of the company was only $35 million.

I got $40 million cash.

For 500 engineers, $40 million, about four months.

That's it.

And then they said, Leo, are you crazy? This is like a dead end, right? You bury yourself or something, being the CEO.

But I told them that, I said, okay, it's a zero, you know, revenue is a zero.

Doesn't matter how bad I'm doing for the company, cannot create a negative revenue, right? So it's still maybe opportunity.

I didn't see the later things, but I said, you know, work one thing at a time.

And that was pretty hard.

But yeah, it was everybody morale was down.

And then people think this is the end of the world.