TJ, so glad you answered that! It's like so many things, there are institutions and then there are institutions. The kind of entities a lot of us think of as institutions, they are not the ones who are puchasing the units.

Are more people upset because (i) they have been diluted and therefore will make less when POET hits big, or (ii) they feel that this type of deal would be made only if the company is desperate, and that strikes at the fundamental heart of our beast.

The first is not what bothers me more than slightly, I don't mind sharing if they needed the money to get us wherever it is we are to get. And companies so rarely raise money by rights offerings to the current shareholder base, it's just not worth hoping for, notwithstanding it makes a lot of sense.

The second scares me, however, I'm hoping for an explanation that will allay those particular fears. Techies that are anywhere from smarter to infinitely smarter than anyone here (relative to the Poet tech) have bought into this company hook, line and sinker.