I whole heartedly agree with the logic of the 3 options.

With regard to the possible news for option 2 (news prior to setting), I think it will relate to the detector rather than the VCSEL.

I'm sure at the start of Friday's conference call I heard them say this is the first of a series of presentations/roadshows. Assuming that what we heard and saw in the presentation is the same as what will be delivered on the roadshows, it would be insane not to mention the detector results.

No-one would go essentially asking for money, without mentioning the currently most tangable fact - We have a detecor x13 better than anyone else in the world. Surely that fact alone would instil far more confidence to a potential investor than the "we will in the future produce our optical engine".

POET have told us the detector will be their first product to market, so I believe news of a detector sales contract would be the most likely influential news that POET could deliver to impact the SP prior to the price setting.