As a fairly new entrant into the stock, I have a question along the lines of valuation. Listening to the Jan 28, 2013, conference where POET was selling its private placement, the talk there was of a buyout (monetization) within about 12 months, and a number of one billion, plus or minus was thrown about by the company rep, I believe.

I don't know what the company was foreseeing then in mentioning that number, but what are the differences between what was envisioned then and what has happened since then (or what is envisioned now that was not envisioned then), to make everyone believe the company is worth multiples of $1 billion?