I've got to agree with you on this one, ITTR.  

I have suspected that MMCAP's investement would lead to some type of M&A activity.  This is how their business operates. 

However, it would make more sense for that to occur after POET begins to generate revenue.  They seem to have the balance sheet required to get them to Sales and revenue, and the company would certainly be worth a lot more money with solid forecasts and revenue.

I don't concern myself with this, though, because I believe whether POET is acquired or is not acquired, their market cap is going to raise significantly over the next 6-12 months.