Every successful company has had a period where they were building fundamental, developing their products, hiring required skills prior to launching a successful commercialization, and Poet is not an exception. 

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True - and don't forget that many such companies had the luxury of putting their developmental ducks in a row while they were still private. POET suffers (and we suffer) because it just so happened that they were already a public company when they zeroed in on this new and potentially more lucrative direction. The task of this change of direction, along with the necessary change of management, undertaken while simultaneously needing to fulfill the legal requirements of public reporting and communication that are a legacy of a company they no longer are (Opel Solar), have made everything they do exponentially more difficult and open to scrutiny and complaint. An investor in a private company knows the goalposts are de facto quite far off, even though his money is illiquid for all of that time.