Fairchij: There is  a need to supply the NA Tier 1 with volume. Can that volume be sourced from DenseLight? Initially I  think  it  will have to  be but I think they will  ultimately supply from  NA sources for NA demand.

Demand of the NAT1 could also be satisfied by the JV. As I understand the LOI, while the JV has exclusivity for selling 400G optical engines in the Greater China territory, it may well sell 400G optical engines elsewhere, for example in North America. However, there’s no exclusivity, so POET could establish further strategic partnerships for delivering 400G optical engines (hint to slide 25 of the AGM presentation as noticed by lumenge), let alone OI-based products that are not optical engines. Still the JV would remain POET’s preferred supplier for these optical engines.

From the 2020-06-30 Sidoti presentation (slide 8, highlighting by me):

Commercial Exclusivity:
— 100G/200G Optical Engine production and sale globally is exclusive to the JV
— 400G Optical Engine exclusive for Greater China Territory (PRC, Taiwan, Macau, Hong Kong)
— POET’s preferred supplier for 400G optical engines for direct sale outside the Greater China Territory