I invested in a penny stock and I expected dilution at some point as it just seemed logical. I must admit the “giant ice berg now floating over top of us” (thanks Scary) I didn’t see hidden under the sea of ongoing R&D (wafer & Epi difficulties, etc.), absorbing acquisitions, and general Admin, but I should have. Even though given little (ZERO) real information concerning the state of Poet finances, this is a penny stock after all and I should have guessed.

We all agree the PO was handled poorly, it will continue to effect the SP going forward—for how long is the question. We cannot alter what has been done. You may even look for an exit, if it pleases. Truth is none of us feel that great at the moment, and with that in view why don’t we try taking it easy on each other. No sense in crossing swords or individual opinions.

One last thing, Day Trading/Swing Trading is OK, no big deal for me, keeps things liquid, not a great sin.

However, certain individuals among us who are into it should tone down their remarks while others are hurting. It’s just good taste. Recognize when you’re dispensing advice to the unwashed, that there are board members holding large positions in the hundreds of thousands (and more) who interpret even a hint of your market rhetoric as small time.

Peace out, TMI

Rick the Vet,

5 mil less? Every little bit helps. Hope your math is right.

TMI

The first question wasn’t about the necessity for refinancing, but rather the manner in whichj it was carried out!

It’s more than a half truth that Poet’s current financial thinking is too tech. heavy in orientation, and that market smarts have repeatedly taken a back seat (starting with theTHM).

The second question is what can be done to reverse the current order of things? Going forward we have a new CFO who on paper seems to possess the qualifications and experience. Perhaps the shareholders can make fair use of his abilities?

I would like to propose a possible solution.

Do understand, I’ve no dispute with management’s technical savvy as well as their ability to administrate the vision side of the Poet equation, but we are sorely out of balance. As a remedy it would be reasonable to now empower the new CFO with the ability to sanction (or veto) our BOD’s financial decisions.

As a means to move the above suggested measure forward, this idea can be advanced at the next AGM (or before), where we can propose a future shareholder vote on this measure—an item on the next ballot.

At the very least, shareholders deserve and need a competent financial officer charge. I want to send this strong wake up message to those accountable. This BOD has run Poet’s financcial matters like a child’s Choo-Choo train set.

Honestly, I can hedge myself against the TSX-V and thier market makers, and even the banksters too. Yet, how to protect myself from people ignorant of the market mechanism? In successful companies first line of defense begins with a prudent CFO.

Please, if you have any solutions for change let’s hear it!

TMI

PS: Next time anyone thinks the maintenance of share price isn’t an important “relative” link to value, just rethink the lesson of this PO. A reasonable share price would have offered some protection against outrageous dilution. Currently, market makers think Poet is a prime turkey to be plucked another 38,600,000 times.

FJ,

Most perceptive of you. I do believe somebody else on the board had this notion also. I am not into connecting dots, however, I thought this citation at 00:09:05 might be announcing a solution to the epitaxy delays when I heard it. Beyond that I might be stretching the current reality.

See below. TMI

Slide 4 (Telephone conference)

00:08:27 – Let me give you a brief summary of what our proposed offering is. We intend to offer newly issued shares of POET’s common stock along with warrants to purchase common stock. We expect to price the offering in late October or early November. We plan to use the proceeds from the offering for general corporate purposes, which may include increasing working capital, further product and business development, as well as potential future business or intellectual property acquisitions in support of our strategic goal.

00:09:05 – One of the areas we will be looking at closely is to get more control of our own destiny from a standpoint of epitaxial wafer supply.

In Schnauser’s posting on Oct 29^th he asked, “but what to do?” A valid question!

We suffered serious dilution, enough to potentially suppress our SP for quite a while— no doubt. But, anyone who thought about it surely had to consider dilution a real possibility as we’ve been a startup on steroids during these 12 months or so.

That said, our PO without a price was like a knife fight and we didn’t get a knife. Equally, to say it was incredibly-unbelievably-exceedingly naïve would confer great kindness on the act, but enough said already there...

So—back to Schnauser’s question, “but what to do?”

Short of any investigation/legal actions that our PO could possibility provoke, you can only shore up your position as did Royalton, RicktheVet, and I’m sad to say myself.

It may be far too little consolation at this time, but the current SP is running at June 2012 levels.

TMI

PS: Take it easy on Mazan--a sincere man--he’s hurting bad.

PS: Belpat, October Houses WOW!

Lebowski101,

Thank you for the clarity. This follow-on text was also great for is brevity-- really helpful.

TMI