I awoke this morning and to my horror this is still real and not a dream.
Cutting through all the emotions and using simple numbers the market capitalization of POET was $175 million before the share offering was announced, and is now just $75 million.
Thats $100 million of market value that has vanished from our company in a few short weeks. As a percentage, thats 57%.
All of this to raise a lousy $10 million. Betcha Mazan would have wrote a check if someone asked him.
Management and the BOD are supposed to be working in our best interests. In this case that did not happen.
A reverse split to list on the NASDAQ would have done far less damage then what we have now, and once on the NASDAQ we would finally have access to reputable financial institutions.
POET has thrown away a fantastic opportunity to finally move off the venture and are now chained to skid row promoters that will peddle POET along with Chinese microcaps.
No one on this board offers any rational explnation why management did this, but they have lost my respect and trust.
