I don't think Pellingrino is any guideline for POET's valuation any more. So much about POET had changed since that report. If anything, it was an extension based on previous management's market positioning of the company.

Perhaps we may consider this for an evaluation:

(1) the new Denselight products and what percentage of its particular market that is reasonable to capture

(2) knowing that we have all the components for the AOC optimized, what percentage of that market would POET be expected to capture

(3) any surprises (i.e. Glucose Monitor)

---------------------- longer term

(3) potential revenue discounted around the idea of the Optical Engine [ that one would still be quite open until marketing targets and trajectories are evaluated ].

Monolithic