Absolutely, I believe they felt that success was just around the corner. Geoff's design is very unique. We did a lot of due diligence ourselves based on discussions with Geoff Taylor. The lab tour is a good example but also the Empire Club provided insights into what the POETs GaAS platform is. Geoff said it himself that an optical expert trying to identify how his platform works specifically the laser would not even know what they are looking at. POET did all the necessary engineering work to assess Geoff’s work which were large scale devices to determine what could be expected using state of the at equipment with much finer control in a modern fab. That work provided results that said they could achieve commercial grade devices. And we know from the results of the detector that the design did more than that. Those results were much better than expected. Still there were changes that had to made for the 4th terminal.

I do believe that there was very high expectation that they were close to getting there but close is not enough. Each run at a contract foundry is very costly in the area of $100k to do a limited number of wafers in a facility designed for high volume. We all know that these facilities are operating at full capacity.

Yes there was too much optimism but I do think it was well placed at the time. Again read the disclosure policy. It is painful and I am sure they have considered making some exceptions ie a letter to shareholders. They did talk about this but decided to hold fast to the policy.

Mr. Mika, recently appointed chief financial officer of Poet Technologies, stated: "Over the past several months, the number of inquiries from stockholders and others that the company and its investor relations firm, the Shelton Group, has received has risen dramatically. We recognize the importance in demonstrating progress to shareholders and interested investors; however, development activities in a technology-based company are not deterministic, and outcomes cannot be readily predicted, timed or guaranteed. Evaluating technical progress often requires nuanced explanation or detailed engineering knowledge. Providing detail on confidential technical, strategic and sales efforts can inadvertently benefit potential competitors, and so the company will refrain from answering such inquiries. Although we have encountered a number of challenges during the course of 2016, we have also made and continue to make meaningful progress on technology development and business objectives. We ask for your understanding, co-operation and support for the new communications and disclosure policy that we are announcing today."