Industry knows they need to change. They need to find ways to improve integration and lower costs and this in turn does create some issues in terms of sharing information even under NDA and especially where China is involved. So there becomes a need to be very cautious and to choose partners very carefully. To have such a novel platform that has such a big potential to change the way in which photonics are integrated and maintain control of that technology is a difficult spot for a small company. Again these are all reasons for them to avoid doing a deal right now for the waveguide for $1 or $2 when they can replace optical engines at much greater value closer to $100 and at the same time avoid providing too much knowledge of what the platform can ultimately become.

This company is suffering today as a result of the very bullish way in which prior management (under PC’s leadership) promoted the GaAs platform based on a platform that was still in the lab. It was so expensive to continue the work under contract in a foundry. This is why the India RFP is so compelling. Although we all long for the days where POETs share price was so much higher there is that underlying need to regain credibility and make announcements that are very meaningful based on hard facts that show the market and customers the real commercial value of the dielectric platform with the optical engines themselves as proof points. POET is working towards that goal with a dielectric platform that can change the industry. It is painful to have been invested in this company for so long and to have lost so much our investment but I truly believe that there is a pipeline of solid news that will lift our spirits, the share price and put the warrants into the money. 

It is an enabling technology.