The personnel in charge of the finances of Poet, to date ,have shown they are incapable of raising adequate funds for the company, as and when needed. 

Our current situation is perhaps due to fact that we have nobody on board ( certainly no one who is a CA or CPA) who can plan, and should have planned, well in advance, for the current and future monetary needs of the company perhaps because of

a)  lack of relevant experience

b)  miniscule relevant Rolodex contact list,

c)  bad track record with prior companies, hence a lack of trust from financiers/ institutions etc

However we do have a well-connected Board of Directors. One hopes that ego or arrogance has not stopped the Executives/Management from calling on them for assistance. 

All above imho.