Well, TMI, they certainly blew their credibility re financing, however, they haven't yet blown their tech credibility.  It did not surprise me that they hit a major roadblock on the GaAs stuff - very, very tough to disrupt given all the talent in the world working on similar issues. 

Switching gears to Denselight and BB just may have been a company saver.  If their new products are highly competitive, there certainly is no shortage of demand/market for them, and when you consider POET's minuscule size, the potential for a homerun still exists.

Also, re the financing, they did hire Mika to help in that respect.  He may not be the Saviour, but I think he would have done far better than the company did without him in that admittedly disastrous financing.