I personally don't think this is a traditional advisory board. I believe this is a "reporting board"; whereby Poet reports to Apple on technical developments and Apple provides advice on where to go next to meet Apples needs. I also believe that NRE revenue (or milestone payments) may have been achieved/triggered (or are very close) in order for Apple to accomplish this kind of relationship with Poet. Unfortunately, it could be as long as 6 months before this shows up on Poets financials (i.e. payments made in April-June would be considered Q2). Contractual milestone payments may not be formally released due to their structure and NDA's thus leaving shareholders to decipher financials once earnings are released (I have witnessed similar activity with another investment). And "no" this is not contrary to SEC disclosure laws (only if insider trades are made using this information-excluding expiring options).

Another angle could be that Apple is providing/financing the group of 30 engineers that PC refered to in the CIC presentation. In that case, the deal could be worked directly between Apple and BAE thus making the Poet-BAE collaberation more interesting. As promised in the last news release, we will find out more on that relationship in the Annual Report. Which should be released in the upcoming week (or before markets open on April 13th at the very latest).

I would be extremely surprised is Blevins is our next CEO. One would think he would have already stepped down from Apple rather then join Poets TRAB. In addition, he is a high profile employee within the Apple organization so this would leave Apple looking for a new VP. To leave his prestigious position in arguably the most recognized company in the world to join a very little know Canadian company seems highly unlikely. But I guess stranger things have happened.

If Poet does start adding people to the TRAB that would be very exciting indeed. Although, I am certain that Apple would be very selective with the individuals accepted to the advisory board. Also remember, AJIT still works for GF as well so this board actually may represent 3 companies not just two. It seems as though a few more answers could be coming in the next week. This gets more and more intriguing every day. Ciao.