The PP price and timing was plain bad, and as leb stated doesn't match the confidence POET has in creating a "disproportionate" amount of money and there is no need for an R/S.

Firstly when is it a good time to do a raise? secondly they don't have the luxury of waiting to see if the SP rises or if investors will wait until it does.  The money is needed now and not in 6 months or more. None of us have a clue as to what is cooking behind the scenes. So surely we have to back their judgement? You have speculate to accumulate and that must be what they are doing.

Entering contracts with industry leaders, with a tiny balance sheet is just unrealistic.  I just can't see that happening.  Cisco or whoever is involved, will need to see proof of stability and liquidity.  Instead of an arrogant board, who says we have the holy grail so take it or leave it.  Meanwhile they're spending their last dime to keep the lights on.  If you want to play with the big boys then you better wear the right pants.  

If we are still not there for some reason, pull the trigger at that point in time, after all other avenues have run out, but no sooner.

It's not as simple as that though is it Scary? How can you pull the trigger with the catch on.  Again! some are assuming they want to pull the proverbial trigger right now.  How about they want to wait until the point that you're describing? But hang on a minute, when that time comes, we have to get approval to from shareholders, so we'll have to wait another 3months to do it.  That is simply not an agile position to be in and I'd wager is very poor management.