I believe that PC was guilty of was saying too much and having a limited technical view. He would never have made those statements if there was not a basis to support those statements. It is very possible that he was guilty of thinking too small. They may well have had some deals lined up that would have done just what he said but the new management team took a different view and said we need to change this approach. In other words they may have seen the old management’s moves as being too limited. This technology has the potential to make this company a leader in new technology and a monster of a company if the steps are carefully selected to reach that goal. It is conceivable that more mature companies saw this as an opportunity to take advantage of POET. I believe Ajit intervened (with PCs blessing) and changed the course knowing that much greater minds were required to handle this disruptive technology and its path to commercial deployment.
Let’s also face the fact that Pinetree has messed up any plans of meaningful promotion having the intended results. Any upward momentum would have been stifled by the massive selling required by Pinetree. Look at their current NAV. This company is way short of reaching the reset limits required by the debt covenant in October. The good news if you can see any good news in this situation of having the largest shareholder under extreme distress is that their power to influence the share price has been diminished to a fraction of what it was.
So that being said once POET is ready to promote this technology then I truly believe we can begin to see some very significant gains.
