I'm sorry, but it seems to me the recent LOI announced is really Phase 1 of a buy-out. After firming up the LOI, what will be left of Poet? The IP and BB. All the staff build up, except Zoccolillo, has been at Denselight. As I understand things, there will be basically nothing left of Poet except a few management people - and the IP.

I would guess the LOI is conditonal on a truly proven interposer, in the eyes of the suitor, which is expected by the AGM. Then Phase 2 - the suitor will purchase some, if not all, of the outstanding shares of our little company - a right of first refusal is probably part of the LOI. Stakeholders will be offered some cash and some suitor shares.