Good discussion and good points all around.

My opinion is that since any recipient of POET would necessarily have to get some value following the transaction, we can expect to leave some of POET's worth on the table on a buyout scenario. One exception might be an auction scenario where companies are bidding not just to use the technology, but to deprive others of using it. But that's pretty pie-in-the-sky without even one partner at this time.

I think management is well aware of the possibility of a buyout from a private equity entity. I thought it even appeared in the Corporate Overview, but I can't find the reference just now. I think they will craft the SRP to prevent lowballs from those types. I recall one of Chris Chu's responses to a shareholder scoffing at the idea that POET could be taken against their will, given the fact that Taylor has to agree to continue development. Perhaps as we get closer to the end of the R&D effort towards completing the milestones private equity firms hoping to "flip" POET becomes increasingly likely, but I still give it a low probablility. Potential buyers will be buying the IP and Taylor+team; Taylor has to be happy with the arrangment.

The only dangers "from within" that I can identify would be that (as others have already mentioned) those inside of the company don't have to raise the SP to much to be "rich" from POET. Wven Taylor could be persuaded to accept a lesser deal (i.e., refuse to work for, or sell out to a company he doesn't want to join - even if they are offering more).

Having said that, I feel like there are many involved int he company that have better motivations than money. As I've said Taylor+team probably want to continue developing POET with a partner company. PC, AC, LS, etc. have reputations that they want to preserve and grow through this transaction. IBK & Shelly are in it for the money, but their business is to make as much as possible. Sam P has been integrity personified from day one, and he feels that the company interests and shareholder interests are aligned, last I checked. Having met many of these folks and looked them in the eye, I feel like we are in good hands.