Darrylhansen: It is because they don't have meaningful progress to report.

With that wording, you obviously mean that they haven't made any meaningful progress they would be able to report.

The other interpretation of that very same phrase is that they have made meaningful progress, but they are not required to report it. That's what I believe is the case as we speak.

People are used to those progress bars on their computer screens theses days for long-lasting operations, and shareholders expect the same from their companies. However, they won't get one, at least not from POET Technologies, because it is important to keep competition in the dark. Therefore we simply don't know whether we are at 3 percent or at 97 percent. Only when the process eventually terminates – either successfully or not –, that would be a "material event" that they would have to report at short notice.

Personally, I believe we are closer to 97 percent than to 3 percent, but it will still take some time (weeks or months) until we reach 100 percent. Except for that India thing, which could come anytime.