"My understanding is that POET management did not expect the share price to go into decline after the PO was announced and that the discount would be applied to the prevailing trading price of .80 or there about. I guess in their mind they saw the pluses associated with getting for the first time US registered securities and the ability for the roadshow to generate good interest as sophisticated investors would see their vision and understand how disruptive the technology is and how it could dominate a growing industry with its unparalleled capabilities."

I sure hope your understanding is wrong, FJ. What happened to the share price once they announced they could go to the market when they liked, was predictable. You felt that they had to have some good news to get the price up so the offering could be made at a number that would look nothing like what happened, and I'm pretty sure you stated that good news just had to be coming. Has everyone here failed to notice that news which moves the shareprice in the direction we like is not exactly commonplace with POET?

Since I think management likely was briefed on the above, I concluded that they really needed the money soon. If the slide in the price did not take them by surprise (which it shouldn't have), and they are not crooked (which I'm convinced they are not), then my conclusion became the third viable possibility - they needed the money and soon. You know, even if the brokers sweet talked them, and even if no one at a high level in the company could figure the effect their steps would have on the price, then, for goodness sakes, their lawyers should have explained this possibility. If they worked on this deal, they've worked on others. Or is everyone connected with POET as an employee or consultant ignorant of market basics?

So, my matrix is:

Crooked - No, give it 5%

Naive - Possibly, give it 25%

Need the $ - most likely, 60%

Other - something most of us have not considered,10%

As shareholders, I think we're kept in the loop sufficiently - they keep telling us they are trying to optimize the VCSEL, and I believe them.

Ironically, because of the many fine tech-savvy posters we have, the common bloke starts to think the probability of knocking it out of the ballpark is 75%, and it's just a matter of time. My hope all along is that they have enough already to justify a market cap of $400,000,000 or so, and if we get lucky, we can really go places, to paraphrase PC.

I'm not sure what commercial success they might be able to achieve if they never optimize the VCSEL or the rest of the high-flying POET tech, perhaps some here do. Can we get $20,000,000, not in revenue, but in good, old fashion earnings? With a 20 P/E, that would give us $400,000,000 in market cap.