Nice post Lumenge.

I agree POET is many years away from dividends and also share repurchases.  I don't know much about the tech but the capital structure I think I have a handle on. Others here have compared the company to that of biotech and I agree with that analogy regarding capital structure.  Typically these companies that are heavy into R&D have the expense today but anticipated cash flows coming in the future.  This makes it difficult to secure bank financing or to a certain extent bonds.  Also, with fablight there isn't collateral to borrow against so these firms are more likely to hold more cash and keep leverage low than your average company. This keeps the company on a better financial footing and keeps more control of new verticals by not relying on outside financing.  This reminds me of the story when Intel developed the x86 processor in  the early 80s but didn't have the cash on hand to get the production line going and financial lending was tight, along came IBM with the cash and on return got a nice piece of the action. 

I realize this post my sound bearish but that is not my intent.  This is where I see the company in a few years once consistent cash flows are obtained, they will hold excess cash and deploy on their R&D and production/partnerships to roll out each vertical.  By this point one can create their own dividend by selling shares for a gain. I am excited to see what transpires through the sale of denselight as we navigate the next few months.

Good luck