Sulasailor: So where we differ in opinion, and yours is as speculative as mine over this issue, is that those 18 months of work on 'low hanging fruit' had no conclusion. I beg to differ.

Agreed, Sulasailor. Those 18 months of work had some conclusion for sure. We just don't know what these conclusions are.

We have be told that "lab to fab transition" were the overarching theme of a collaboration between POET Technologies with an unnamed "3rd party foundry", which much later turned out to be BAE Systems. We also received some more or less cloudy news releases about progress that has been made, without clearly telling us what this progress was, like e.g. the company collaborated with BAE "most recently to successfully transfer our most critical process loop into their facility." Compared to the former, "extending this collaboration to develop the full flow on 3-inch and later 6-inch wafers" had some higher degree of concreteness.

Unfortunately we haven't been told what the overall outcome of the collaboration with BAE Systems, but I am assuming it wasn't all wasted. Irrespective of a large customer being in the background or not, and irrespective of overall success or not, as the bare minimum we can say that they gained a lot of experience – and very likely much more than that.

Regarding PET (to mention that acronym one last time (hopefully)), we'll have the HFET (Heterojunction Field-Effect Transistor) in the VCSEL transceiver, being one of the electronic devices one could subsume under "PET" (ugh, there it was again).