I don't like Mika, but I'll push back on the idea he's trying to fleece us by giving his friends special terms.  I see incompetence, not malice. 
As for selling SPX for 50-100 million, it's not that easy, otherwise they would have done it. They probably have to sell it to Sanan by contract, which means there are no other potential buyers to help bid up the price. And if you're Sanan, why would you pay full price?  They know POET is in trouble, and badly needs cash, and they will milk us for the best price they can get. My speculation is Suresh is trying to sell POETs stake, but Sanan is playing hardball. Hopefully POET pulls an ace out of their sleeve soon, and gets a better hand to play. And the repricing of the warrants might give us just a little longer to play that hand.