And wouldn't you agree, that all this would be perfectly fine if they would have raised cash during the NAS listing? What was the reason for the rush to the NAS if not for generating cash and raise money? They didn't? Why not? Instead they sold private shares (best interest of the company or shareholders)?

No, they raised money when POET lost 50% or now even 85% of that value during the NAS listing? Well, for sure not played very smart.

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I would imagine the sp would have  dropped to Pennies and the share dilution would have been multiples of what actually took place. 

it's the nature of the beast that a pre-revenue company has to walk a fine line between complete honesty and disclosure and putting an optimistic spin on all timelines and events, just in the hopes of generating cash.