Wow, thank you andech1, I was not aware that the EDB contract was on SEDAR. Here is your post with $US, because Singapore dollar doesn't mean anything to me.

I have had some time left so I checked again the EDB contract. I refer mainly to the pages (annual report) 140-160 and Annex 2 of the EDB contract

The project related costs in order to receive a max grant of 4,72M$US (6.6m S$ )(3 years) are beyond 28,63M$US (40m S$), of which

a) 17,17M$US (24m S$) in materials and consumables (of which 7,16M$US 10mS$ in wafers) and

b) 11,24M$US (15.7m S$ ) direct development costs (of which 2,15M$US (3m S$) for MOCVD and 2,86M$US (4m S$) for optical lithography) .

Further POET has to spend at least 3,58M$US/year (5m S$/year)(2017-2019) in total R&D expenditure and 10,74M$US (15m S$) in R&D fixed assets until 7/2019.

The grant was awarded in oct12, 2016 (the same day when POET announced the lumux cooperation and the PO ).

Poet speaks in its press release of a 7,16M$US (10m S$) grant (5 years) . Possibly there is a sort of automatical proloungation because the contract they had published in the annual report lasts only until July 2019.

If we take into account that the recruiting and investing preparations take at least 2 months- (remember that they have to hire 53 researchers within 2018) we can say that the project can only have started in 2017 .

So they have to spend roughly 14,32M$US (20m S$) in 2017 and 2018 in order to get the grant. Notabene : these are R&D or project related costs only.

Big times ahead