Sorry, Jack, but I can only see this finally as a quite neutral event.

If an option/warrant holder would let their papers expire (assuming they are in the money), he would just be insane. He always can sell/exercise, then again sell and exercise - to earn the difference.

I see positive that all this is not done at once, as it would significantly hurt our SP. (and it is in the core interest of the holders not to smash the SP to the groud...).

But I do see it negative that PC (our money market man) and JT can not arrange block trades with help of the POET management. So it seems to me that 1. POET does not care about the SP and/or 2. POET can not find a major investor buying in by a block trade.

And again positive that the SP does not collaps with all these new shares.
So finally it balances to a neutral event. Let us see how long this will go on. Sooner (FJ) or later (SH calculations) this source of new shares will run dry.