Pinetree's biggest risk is in their outstanding debt and being unable to service it. As that gets paid down, the risk of bankruptcy gradually gets reduced. This is the reason they are no longer at .10

Depending on how many other of their other assets can be used to generate cash to pay down the debt, they will probably still have millions of shares left (e.g via exercised warrants) to ride Poet up and increase their NAV organically.