Scary

Sorry but you simply should not have invested in high risk venture capita,l you knew the risks and your circumstances appear unsuited.  Why subject us to another miserable rant.

Everything you now say about management is said with 20:20 hindsight and takes no account of the realities they faced.  Why not recognise that no plan survives its first contact with the enemy and try to value management's performance by the way they deal with the difficulties encountered rather than their successes. 

This project is being run on a shoestring, it is and has always been, under capitalsed. I feel the acquisitions strategy remains the best means of provideing the revenue needed to complete commercialisation of POET.  Given the technical issues encountered the cost in time and capital needed staying on course can only be met with JV partnership. We all know that a further PO to raise the capital would be unpopular if not disastrous, for the reasons you express.

Yes we should not get overexcited by RFP plays and their like but that is just part of what we do here and so beit.  But it does rather show how the AM rolletdex might still come up trumps with a white night.

This was never going to be easy or quick, as you once wisely predicted, why not be wise once more by taking the responsibility for your own bad decisions rather than blame management?

Personally I feel happier with their solutions than the gloom you peddle and they may just have got this one right when it all comes out in the wash. 

Sula