If our JV parter is a big player who can utilize POET in their own products then I would think they are a good candidate to also make a buy out offer. If this is the case then it may not be in their best interest to have a JV agreement in place in time to include it into the new Palagreno evaluation. Why drive up the purchase price?

On the other hand if they have no buy out interest then I think they would want to lock down an agreement as soon as they're satisfied that POET meets their needs. So I'll take a bit of a clue from the order in which the JV and the new evaluation are announced.