PFL

Well, they have no Denselight costs right now.  If the terms of the contract change so that POET retains part ownership, there's zero chance this no-cost scenario would continue, we will be paying for a portion of the operations.  We may even have to pay back a portion of operations from the day we signed the deal. We don't know what's in the fine print.

Further, the idea they retain some ownership in the operations goes completely against SV's strategy and your namesake, and the benefits that model brings.  And, I'm sure the company could use the $5M right now vs wait how long to get an equivalent return as minority owner, which they won't see a dime of until DL becomes profitable themselves.  The bottom line is things can become increasingly complicated and burdensome, and just not something we need right now.

IMO, it's very simple.  just hand over the $5M, and let's be done with it.