@jrubinst

I'd challenge you on your description of solar as "flying high." All projects except the Chinese JV were fairly small. The Chinese deals were supposed to point to bigger projects, but they didn't take. It was nice to think we had a solar backstop for the riskier POET R&D effort. It was supposed to sustain us if Taylor really did need more time to work out the inevitable problems that might arise.

I would agree that the perception of solar was that it was going to be a great success and hindsight being 20/20, I have looked back and wished that OPEL would have tried to do a capital raise a few months after Pellegrino. Not sure if it could have looked fishy trying to raise money after years of dormancy SP-wise. With that, we could actually have had a POET chip ready to market a year ago, with all the requisite milestones completed by now. This is one of the primary reasons that I doubt that the old regime deliberately misled investors. I think they were as surprised as we investors were that things could go so horribly awry so quickly. I'm not making excuses for them; their reaction to the downturn was incompetent and/or reprehensible.

As for the way money is being spent, I think what you describe is actually what is being done. POET is shrinking the transistors so that more of them could be placed on a chip. With increased density comes improved performance, which presumably at 100nm will blow Si CMOS out of the water and even rival/surpass planned nodes like 10nm and 7nm.