Am I reading the release correctly? Did Subhash just resign from Poet? The release says:

POET’s Chief Operating Officer (COO), Dr. Subhash Deshmukh, resigned effective January 13, 2017 and will assume a new part-time role as special advisor to the CEO where he is expected to drive and lead special projects for the Company. POET’s Chief Financial Officer (CFO), Thomas Mika, will fill the position Dr. Deshmukh previously held on DenseLight’s Board of Directors. The resulting vacancy in the COO position is not expected to be filled, as the Company’s staff in Singapore will perform the various facets of this role in close coordination with Mr. Mika.

I know most of the release is talking about Denselight, but the "Company" is defined in the news release as Poet, not Denselight. Also, I'm not sure there is a CEO appointed for Denselight, just a President and General Manager (now Rajgopal).  Anyone care to clear it up for me?

I'm not a securities lawyer, but it would be unbelievably risky for Sheldon to sell his shares knowing that impending negative news was coming. I don't think he would be that stupid, so soon after he left the BOD, regardless of what his actual knowledge is. With his selling being so close to his departure, if negative news came out, his transactions would automatically come under scrutiny. Selling right now with even a hint of bad news would be reckless.

My opinion, but I think he either has no relevant insider information or he knows that any news that comes out in the short term would not be viewed as negative.

Guys,

IMO, Pinetree is not going bankrupt. They are not insolvent. They have a large asset base that still has value way above their debts. The problem is that they have no cash to service that debt and the value of their assets has gone down to a point that the creditors are not happy. So the only way to reduce their debt and generate cash is to liquidate their assets to a point. Our problem is that the only asset of value is their POET holdings, so they keep selling to keep the lights on in their office and their creditors at bay. Untimately, as FJ pointed out, they have done a significant amount of pay down but even if they liquidated to pay of the remaining $15M of debentures, they would still have significant POET holdings and warrants. My thinking is that we are not getting rid of PNP any time soon, or ever. The best we can hope for is that they make their creditors happy (because I beleive they are actually selling as little as possible, hoping for news) to stop the dumping.

So, POET's checking off boxes after the 44-101... seems so.

So then to take it a step further, assuming that PNP has now found a new bottom in order to maintain its current covenant, provided there is a some sp recovery over the next couple of weeks, they should not be too worried about their ratio at the end of August or September. Then in October they need to improve their ratio from 50% to 33%. If the share price doesn't help them by that point, we may see the same thing repeat itself.

So here's hoping - news by October!!!! (jk),

Thanks TWG, I think that this comes close to proving the theory that it was PNP selling over the past couple of weeks. They had a debt-to-asset of 45.8% on June 30, when the share price closed at $1.58. Given that PTK is such a high percentage of their holdings a relatively small price drop can push that ratio over 50% in early July. Then they were just chasing the share price all month.