BTW at the Peat AGM I talked with several of the management team there and it was divulged that POET was the company that initiated the bidding war for ANAD. At the time I never would have believed this since POET had not yet made any acquisitions. I believe that PC made some comments I thought were farfetched about the possibility of such a move, but I dismissed them as bluster. Now I think PC was instrumental in bringing the initial bid to the table (this is why he was hanging around, wearing out his welcome with some shareholders).

Even now, I'm mind-blown that POET was one of the unnamed bidders in those NRs for ANAD. I don't want to share the source (I'm sure many will guess) in case he didn't intend for the info to reach a wide audience beginning with him, but it was described as an "open secret" at the time.

This offers another explanation for the quote that ahasja put forward. The setback could be from *both* the bidding war (of which POET was part) *and* the acquisition.

In a discussion with Mr. Rodrigues and several other posters, I learned how quickly the acquisition of Denselight took place. To me, this supported of the "rumour" that POET was in the running for ANAD, and quickly pivoted after losing the bidding war. Some may see this as a negative, but I'm very impressed at how quickly POET managed to execute Plan B and make an acquisition that filled the void left after the failure of Plan A. I'm also glad that POET didn't chase the ANAD bid and were willing to walk away. At this stage the effectiveness of management is critical and it's obvious to me that we have the right people at the helm.

I figure the II-IV move on ANAD was either a block to prevent POET from gaining a foothold through ANAD, or it was a coincidence that II-IV suddenly became interested in ANAD. In the former case we have to acknowledge the possibility of more moves against us (or to bid on us!) in the future, with the only solace coming from the indirect validation of the potential "blue sky" nature of our technology. Alternatively, II-IV doesn't know of us and this is just a setback, which has been set right in order to move forward with the plan.