You are so right My POET,

A very serious case of judging the performance of PTI only by the Share Price (SP) only has broken out. The fact that this irrational thinking began just after what was the most detailed explanation of just how well this company is set up to succeed, given to date, is what's interesting me. I can only imagine that the negative posts are favourable to the trading policies of the respective posters.

It is quite clear that what was wanted from the THM was the announcement of a deal, or naming of names, that was expected then to propel the SP forward. Those who thought this have now to man-up to the fact that they got it wrong and effectively set the market up, once again, for the perception of failure and yet another swing in the wrong direction when what was 'wanted' did not occur.

We really are our own worst enemies at times on this board.

The fact is what we got from the THM was exactly as written on the box and preannounced - a brief on the company's acquisitions and operational plans forward, plus a much clearer path of actions to be executed down line. This was as clear and detailed a public announcement as could be made, yet still we have the winging about lack of communication and a barrage of advice from the brigade of Arm Chair Generals who feel they are far better qualified to run this company albeit with no real knowledge or feel for the actual conditions or the business front with customers and potential partners our management have to deal within the restrictions of commercial confidence. Please lets give them the room to manoeuvre they need to execute their plans.

Early investors in POET know full well the risk they were taking, yet PTI remains for me my most successful investment with potential that is off the scale. This last year has been the first year when PTI ceased to be a risky pipe dream by their conversion into a viable commercial business proposition through the diligent efforts of a very competent and experienced new management team. This one year pivot from and Intellectual Property selling company into a fully equipped operational IC photonic solution company. has been fast and effective and quite stunning really. Whilst we have had a front seat the commercial investment world can only watch from afar but that will change.

Ahead of us in the remaining months of this year the first POET products will be produced and marketed along with existing products initially to the good-will customers of the acquired DenseLight, then later to a wider IC markets, as the disruptive performance and value proposition of POET technology becomes known in the burgeoning optical markets expected.

As is sensible for a newly formed company, profits that occur in this inception period will need to be poured back into development of the product and structure of the company. That is not to say that analysts will not see the true worth of the company to prevent their recommendations. The EBITDA 2018 statement has really been totally misunderstood by many here and it should be realised that it is not a bar to SP growth but in fact a statement that this company expects to be doing rather well in short order.

By 2018 when I expect the significant ramp up in the demand for Data Communication, AR, VR, GR and other sensing and detecting products to occur, it would be reasonable to expect that this unique and disruptive technology's impact on a multi billion dollar market has every opportunity to be very significant. Management are currently working on how that might look in financial terms and at some point we will see these figures as shareholders as will the commercial investment houses. Only when the value proposition is presented will the SP react but this could be bolstered by announcements on the outcomes of what is happening under the cover of NDAs. Logically, this can only be done once the properties and performance of the VCSEL are established and the |V|CSEL |and sensor manufacturing process properly matured for production or ortherwise they might sound like weasel words to analysts

It has been very tough to change my mind set from the quick profits offered by PC's IP selling company to the necessarily slower growth of actually commercialising POET offered by AM and SV, but I know that the real rewards of investing in PTI will come from this new approach. That is not to say that developments up to September of last year, on the PET side of the equation, may still bear fruit. However much this is poopooed here there has not been an explanation of why PET fell of the radar at the time Tony Blevin and the TRAB arrived. Neither have there been denials or retractions and we are left with managements' cautionary words 'we are not prepared to speak about these matters' which effectively leaves the issues wide open and possible - this is not pumping, which I am obliquely accused of, this is trying to explain the facts.

In conclusion, as much as it would be nice to have the comfort of a SP that reflects the true worth of PTI, as I, and I suspect the majority of others, have absolutely no intention of selling any of the shares until the company has executed on the plans they set out at the THM, the current SP is therefore irrelevant to the rationale to continue to hold PTI. The winging about SP is simply a futile exercise as investors here should know full well that such swings are par for the course when owning a venture capital share. Those who cannot see this need to reign in their expectations or consider whether their investment profile is far too risk sensitive to be in venture.

All this is said with sympathy towards those here who have compelling reasons to raise funds from their PTI investments which could come to us all and I hope that SP movement desired will come soon which remains a real possibility.

sula