I believe that TM distanced himself from that offering publicly.  Too much momentum for him to have stopped it. He would have made a bunch of enemies. 

Besides, there have been other securities offering by Poet since then, no where near as bad. 

I feel an offering is inevitable. Too bad, but without significant revenue, what's a company to do?  I'd prefer a convertible debenture offering like 3 years ago, something in which many Agoracomers could participate.  But I think it will be common shares offered by what I hope is not a Wainwright type outfit.