re: "hiring more expensive and professional IR firm"
*actually the new IR firm is less expensive!
according to the news release from April 28, 2014........
TR will be providing investor relations services starting immediately and services continue for one year or until either party notifies the other of termination of the agreement with 60 days notice. TR will be paid $5,500 per month plus out-of-pocket expenses as required. Additional services will be billed at TR's going rate. TR is completely at arm's length to the Company and has no direct or indirect interest, and no intention to acquire any interest, in the securities of POET.
and from yesterdays news release.......
RFP will provide the services customarily provided by an investor relations professional including shareholder and media/public relations, overhaul/oversight/maintenance of the Company's website, and liaison activities with investment professionals and other stakeholders.
The initial term of the engagement is one year commencing November 1, 2015 and either party may terminate the agreement for any reason upon 60 days' notice after the first quarter. It is anticipated that RFP will be paid a total fee of $46,000 for the first 12 months payable quarterly.
RFP has no interest, directly or indirectly, in the Company or its securities, and has no current right or intent to acquire such an interest during the initial term of the engagement.