What I infer from Shelly's continued buying for himself and Pinetree is that he thinks these shares will be traded for cash - as in buyout cash.

I think he knows he would have trouble moving these shares he's bought (even at much higher prices) without crashing the SP. And buying even more every day only exacerbates the problem.

Obviously I'm only speculating, but I think Shelly probably thinks that when POET opens with their licensing strategy, it won't be long before they get offers for the whole shot. In that case he won't have to worry about depressing the SP when he begins profit taking.

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On a related but separate topic, does it ever happen that a major shareholder makes a deal for the sale of his whole block of shares to another party? Here's a scenarioto illustrate:

What if Shelly accumulates a controlling interest in POET (20%+) and then makes a deal with Intel to sell his entire stake for $3. Intel gets a fifth of the company and only pays a pittance (or at least whatever premium Shelly will accept), they can then make a play for the remainder at a discount, and possibly with a member of the board working for their interests from the inside?
Just curious if anyone on the board has ever been exposed to similar backroom dealing between a major shareholder and an acquirer?

For the record, I don't think this will come to pass, especially considering that Pinetree will be voted onto POET's BOD in June.