FJ is on the money. The P/E ratio for a company like POET is pretty irrelevant until earnings become far more stable and reliably predictable. That's far in the future. The growth rate and potential will be what drive the stock price, much like many of the high-tech companies we see today.

With the right kind of deals, the stock could be at $20 with minimal revenues. In fact, oftentimes upfront payments are not taken as revenue for the year made, but spread out over several years. In such case, you'd have the cash, you'd have the sizzle, but you wouldn't necessarily have commensurate earnings. But that will be of little consequence.