"There are many possibilities. Short selling in my opinion is at the bottom of the list."

FJ, any short selling is just icing on the cake; the cake is the number of board posters/readers who have dumped stock since the announcement of pending financing. That dwarfs short selling, if any.

But investors who know they are going to be included in a share/warrant offering do sell short (or sell shares they may already own) into that financing. I'm sure you've seen it in the natural resource sector dozens of times. There's nothing evil about it (on management's side), it just comes with the territory of a company like POET looking to raise money.