noret re: "With Gary mentioning Partner in his write-up, I wonder if Poet and Anadigics will be sharing any revenue from the Vcsels, instead of receiving any payments for producing them from Poet. Any thoughts on this?"

Yes I do have some thoughts, I am not sure about the partner statement in Gary's write-up, or what type of definition "partner" has here (possibly not what is seems). One thing I noticed for the first time (in the MD&A) is that my interpretation is that POET is paying Anadigics to product the VCSEL prototype.

In the MD&A page 5 "The Company’s “lab-to-fab” transition resulted in increased subcontractor fees with new subcontractors which includes Anadigics, Inc. Anadigics, Inc. has been retained to complete the goal of a successful prototype demonstration for a product produced in a mature and capable manufacturing environment, specifically focused on the Company’s VCSEL technology. The Company expects to increase its research and development program in the short term to advance the POET process, this will result in increased subcontractor fees expense for 2015 and the following year."

Bold is mine - does this not sound like it confirms POET is paying Anadigics? I do not recall having confirmation of this before (maybe I just missed it). This may be seen as a positive (IMO) in that all we are giving away is some cash for the prototype work, not any future piece of the pie.

Good luck!