FJ said 'My thoughts are that POET does have very ambitious plans and in order to execute in the shortest possible time a cash infusion is going to come from some kind of deal.'

I agree with FJ's statement but believe that such a deal may already exist by arguing previously that the current silence about PET, which we should remember was a strategy to develop PET first to access low hanging fruit', has in fact come to some sort of 'fruition'. What I am suggesting is that the management confidence we are now experiencing as well as the source of the resources necessary to implement the Company's new strategy and change in emphasis to POET has come about not just because of the arrival of a new executive management team but from the achievement of previous company goals.

My thesis is that an exclusive deal exists with the big customer who imposed the direction of PET milestones in June and necessitated the March to August lab to fab' deal with BAE, the results of which have not been clearly explained to us. Additionally the statement by SV at the CC implying that PET continuance is why Synopsys was stated as remaining as a key element in the current strategy.

Let us imagine what the consequences of owning such a deal could be?

1. The exclusive development of a PET based product by a third party allowing PTI to focus on its prime IP - POET and provide funds to resource the company's strategy to develop POET IP.

2. The need for total silence on the development of PET by that third party by PTI.

3. The achievement of Peter Copetti's desire for a deal which provided 40 engineers to.

4. A source of Royalties from PET IP.

All conjecture perhaps, but I cannot write off in my mind the 18 months of development amounted to nothing whilst PET and low hanging fruit were the company's focus. If I am right, and I feel the facts fit, we may be in for an unexpected surprise when the 3rd party is ready to deliver and announce its exclusive PET based product to its customers.

I like the new strategy but I like it more when the old strategy is shown to have bourn fruit.

Sula