Take this excerpt as you would like..... but I think it is definitely not a negative thing.

Use of Proceeds

POET intends to use the net proceeds from the Offering for general corporate purposes, which may include, among other things, increasing working capital and further product and sales development, as well as potential business or intellectual property acquisitions in support of strategic growth. POET anticipates that approximately 55% of the funds raised will be devoted to product development of its integrated laser technology. The proceeds will also be used to fund further epitaxial development that drives its integrated laser technology. The Corporation's R&D program is conducted through a combination of subcontract services and internal development. The Corporation anticipates that its integrated laser technology will be completed in 2018 with estimated development costs of $10 million.

Guess they needed some more cash to get the crazy train rolling. It definitely sucks but without any serious source of revenue right now it may have been a necessary evil to raise some funds.