From the release regarding Sheldon's resignation,"Although Mr. Inwentash has expressed his continued strong support for the Company and the POET technology, he felt that his resignation would allow him to spend more time building his business."
When I proposed that SI might be selling alongside Pinetree last week, it was a scenario that made sense. But if he left because he was asked to leave,I have no doubt he would move heaven and earth to ensure a 10% stake and thus have a level of control in future decisions.
He has likely seen that Nasdaq carrot dangled directly in front of him, maybe even a buyout offer or three, and then pulled away. The new regime is in this for the long term, SI may have wanted the big payout far sooner and is now posturing for a greater voice and piece of the pie.
My only question would be, if he has been selling the past few weeks, when is he going to buy to acquire that position, and would a timely NR scuttle his plan? So far, unless it's a "dollars deal" nothing wil move this against the selling pressure being exerted. One thing is certain, vicious games are being played with the share price.
