My response to OC:
Management seems to have already decided that the capital raise required would not coincide with the scale or timing of expected NRE, thus we have the share offering.
OC...POET reported $10.9 million in cash as of Aug 31. 500k of options/warrants have been exercised since then. Presumably not enough to keep up with the current burn rate.
The forecast in the new Investor Presentation is for DL to become cash flow positive in 1H2017. Thus the operating cost burn rate for the company should become less over that time period. However and this is one of the questions that needs to be addressed. What expenditures are required to make DL cash flow positive? As Rainer suggests this is probably the reason for the capital raise.
I think we can agree that NRE is dependent on factors associated with the optical engine integration which appears to have been delayed. So reliance on that source of money would delay the upgrading of the DL facility or force them to ether use cash on hand not something that would be logical in my opinion or delay the upgrade which would likely result in the delay of Operations at DL becoming cash flow positive in the first half of 2017.
So I think what we are seeing is a decision being made to not wait for NRE because the longer it takes to do the upgrade the longer it would take for DL operation to become cash flow positive.
