My Poet: SO we have an operating fully functional "POET VCSEL" and the milestone we are waiting for is to demonstrate speed "much" actually is?
Yes, that's the way I understand it. The POET VCSEL will a) show that POET Technologies can build it and will b) demonstrate to potential customers or partners how good it is in comparison to silicon VCSELs.
Whether we already have it or not is a good question. However, I am confident that the question is when, not if.