Sandman, you wrote: "Unless PC was truly surprised by the delays supposedly due to the sputter tool, his level of confidence was quite high at the CIC. You can't fabricate that."

The events of the last 10 days or so are all very puzzling, and I agree with most of what you wrote, except the above. PC is a salesman as I've said often here, but he was winning me over, and then this little bombshell hits.

The CIC was a sales pitch, negatives aren't going to be mentioned there. I didn't have a problem with it, but I accepted it for what it was.

And about 10 days ago, rumors began flying on this board. The share price was solid, but not spectacular and probably not commensurate with the buyout chatter. All very Venturesque.

The disappointment for me is similar to what I feel about PC - just when I start believing POET is acting unlike a Venture company, it reminds me it still is. I fall back on associations with Ajit and Tony Blevins for some comfort, and I certainly hope both knew full well about the delay issue.

Not being a tech guy, I really can't quantify the risk associated with this issue, but I do know as we got into April without hearing of problems and hearing that the milestones were almost there, that I felt we had substantially de-risked, but now, I feel we're re-risked. Others feel the same way, I'm sure.