As I want to be as bullish as you, a company still needs cash, especially when scaling up. Agreed, a JV and increased sales will help, but POET itself still needs capital for R&D and expenses. If there is no ATM, then there is:

1. A problem that has to be solved, which is A. finding buyers and/or B. hoping on better market conditions which won't happen in short term;

2. Other capital sources available and than we as shareholders must be informed about these options and progress on this.

When investing becomes praying