"The Company has, for the first time, engaged commercial epitaxial wafer suppliers in providing wafers with the unique and proprietary POET epitaxial stack. While comprehensive discussions are underway with a number of potential foundry and epitaxial wafer partners, we have recently signed memorandums of understanding with some of these companies and expect to continue this process. This should accelerate the lab-fab transition, utilizing state of the art processes that position the Company for success in defined commercial markets. "We are pleased to be working with well-established companies as both our foundry partners and as suppliers of our proprietary epitaxial wafers," said Dr. Venkatesan."