No doubt, SP is not equal to shareholder value. And I guess you agree that it is a good strategy -
If SP < SV: buy
If SP > SV: sell
Hence - not caring about the SP can be dangerous for the company. Low SP is rising the danger of a hostile acquisition and causes unnecessary high dillution in financings like now.
For venture companies dillution is a necessary evil to pay management, to finance R&D and growth until profitability. But "unnecessary" dillution is in fact harming SV.
There is an easy way to do financings without harming the SV: POET could issue free tradable warrants to all existing shareholders (e.g. 1 warrant per 10 shares), with a short validity (3 month).
http://www.investopedia.com/articles/stocks/11/dangers-of-stock-dilution.asp
