Remember the old story/joke about the woman who takes the injured snake in and nurses it back to health - when it recovers, it bites her, "I'm a snake, that's what I do."

And that's what small, developmental, public companies do.

In this case, I was hoping this was not necessary, but alas, the snake.  But in no way was I surprised, the script played out where a financing could certainly be a part of the story, but certainly not the final act.

It's possible some of those who did exercise the .52 warrants got in on this deal, as a reward.

Think of this as someone making a short term finanancing facility - you sell a million dollars short at .65 or so, and you cover with the offering shares and you keep your one half warrant.  For your short term involvment, you make a very hefty percentage.

As for those who have said this puts a floor on this stock at .55 - not at all the case.   Think of it this way, how much would you pay for a 2 year warrant to buy a share (I know it's half a share) of this stock at .75 - most of us would overpay, cuz we think we'll be at $5 in two years, so keep that in mind.  I would just offer an estimate - .22.  Okay, so now we take half of that (to account for the half warrant per share), and we've valued the one-half warrant at .11.  That amount has to be subtracted from the .55 to get the actual share price people lucky enough to have engaged in this financial maneuver  paid.  So .44. 

This isn't to pick on POET, this happens with many POET-type of companies.  It's part of the deal when you buy into one.  It's how one finances a small company that does not yet generate sufficient revenue to fly on its own. 

One other platitude that is liberally thrown around by hopeful shareholders at times like this - the notion that this will be the last such offering - please, please, do not count on that.  And we will recover, but likely only upon good news being released or rumored.

Finally, although I'm personally mildly disappointed that we needed this raise, this offering was sooooo much better handled than the last one (the worst I've EVER seen) - the two are not only from different planets, but different solar systems!

So, the above is my truth, not saying I'm right, but I think I'm at least close.