It has been discussed before, that either Poet management was snookered, incompetant, or ignorant as to how to pull this off, or they were simply desperate and had no choice?
Oct. 12th, was when details were provided about their proposed public offering. The very first paragraph gave them an "out" if conditions were not right. The stock price was .76c.
"Poet Technologies Inc. intends to offer newly issued shares of common stock, along with warrants to purchase common stock, in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering."
On Oct. 17th, we were informed of the change in CFO, just 5 days later. That was highly irregular and informative, and important as any change of that calibre always is. Is it possible that Kevin Barnes, our old CFO didn't want anything to do with the financing? The stock by then was trading at .58c and opened lower immadiately the next day, closing at .53c on the 18th.
Oct. 28th: It really tanked when final details were released.
Poet could have walked out of the financing at any time, but they didn't. They could have stated market conditions. But they didn't. So why did they proceed with the shareholder fleecing? Was it ignorance or desperation or something else?
