Personally, I've evolved the belief that these technical milestones are targets for the Taylor team, not the markets.

A person could hold the belief that Taylor's team has been late for every single technical milestone (in which case, why would anyone be surprised if it happens again?) or like me, you could view it as a target for Taylor's team. In the latter case, the delay would be in compiling and publishing the results, discussing with management, etc.

IMO, any delay beyond what we have become accustomed to could be a good thing. Remember: this is the milestone that was "requested" by potential partners. We may get more than just a simple confirmation when the 100nm is announced.

Again IMO, a named partner would reduce uncertainty in the Pellegrino valuation and should increase the value of POET accordingly.