If some revenues were anticipated by PC a few months ago, likely POET and their potential partners discussed about how much it will cost to licence their IP, I mean how much royalties one would have to pay to use POET's IP. Not an easy question. It's almost impossible that it was not discussed already with maybe multiple potential partners. The final amount would, or should I say will, be the result of long negociations. Now imagine the difference from POET's perspective between negociating if you do not generate any revenues (and have lot of expenses to pay for) vs. if you are generating revenues already from the sales of a product using your own IP. Do I have to elaborate on what the difference in the final result of negociations could be? Considering that the first deal will impact the royalties of the following deals, negotiating from a position of strength for that first licensing deal could mean a huge difference in market cap in a few years from now. I'm not saying this is what's happening right now, but maybe POET feel the value of their IP is worth more than what one's offering, and now that they have (from what I understand) another plan than pure licencing to finally get some money flowing in, they can do their thing and tell the parties interested in their IP but not offering enought for their likes, well yes we are still interested in doing business with you, but we are not going to make gifts to anybody. Does it make sense? We must be carefull in the speculataion we are doing on this board because, while the most recent MD&A make us believe that more than licensing is now on the table, nothing really leads us to the conclusion than IP lincensing is compromised or even delayed! Sorry for my bad english btw And Cheers from Montreal!