Like many of you, I enjoy reading all the insights and due diligence on this forum.

I think the conversation has shifted too quickly away from the implications of the MMCAP investment though.  In my opinion, posts on this board are often too focused on the SP of the day.

MMCAP doesn't invest in a broadly diversified portfolio like most institutional investors we're used to. They actively bring companies together through mergers and other engagements.  MMCAP is focused on business "events".  
In my view, small companies like POET, with technology and patents that address a well defined market need, but with limited infrastructure, workforce, and financing, require a catalyst for significant growth.  I believe POET mgmt recognizes this, and they partnered with MMCAP because MMCAP has a unique business model that provides this type of catalyst.

Consider HIVE.  Just an example. MMCAP made an investment in HIVE.  Here are some data points:

A fleet of thousands of high-end industrial GPUs makes HIVE well positioned to support the fast-growing AI and HPC markets

• HIVE operates a fleet of thousands of NVIDIA industrial-grade GPUs (graphic processing units)
• Building HIVE Cloud, an enterprise-class service offering affordable compute for demanding applications including AI training and inference

 Now, HIVE's market cap is only about $350M, so we know they couldn't acquire POET, and we wouldn't want them to.  Thats not my point.  

My point is that MMCAP  invests in companies with the intention of bringing businesses together and creating greater value.  HIVE is just one company I looked at in the MMCAP portfolio that seemed interesting - A company that may offer synergetic value with POET given both companies expertise in data center optimization for AI and other high throughput applications. 
MMCAP doesn't passively invest.  They likely get to know their portfolio companies pretty well.  I think of HIVE (I don't know them, I just know how business works), and I imagine that their Bus Dev guys, their engineers, and the execs have interactions and relationships with their counterparts at Nvidea.  There are a few bi-weekly zoom calls, they get together at events, and there's periodic business dinners.  When MMCAP invested in HIVE they had conversions with Nvidea contacts as part of their due diligence.  Its logical. 
Business is all about relationships.

So, what is my point? - it better be good, because this message has become much longer than ANY of us wanted to read

My point is that MMCAP has placed a big bet on POET, and they're experienced in creating value from their investments through active engagement and arbitration. They specialize in merger arbitration and other activities to increase the value of their investments.  They establish relationships and bring businesses together. They clearly expect POETs market cap to increase significantly, and they will help make that happen.  They have the experience and business model to make that happen.

It's not about the sp of the day.  That's just people taking a gain from a very low buy in. It has nothing to do with the long term appreciation of this investment.  The MMCAP investment, and other recent announcements, deserve more ink because the implications for appreciation are huge.