RTV,

Another thing to watch for is that when the general market tanks, some less well capitalized shorts need to cover due to margin calls, because many are not short overall, they are short on individual issues, and their overall bullish portfolios can get into trouble.  I have also called it, jokingly, the "flight to quality" when a heavily shorted developmental tech or biotech actually benefits from an awful day in the S&P.

FJ,

I hope this is not the warrant holders shorting; the warrants may well be the last piece of their bullish position in the stock, and the profit they would be making is peanuts, compared to what we all eventually expect.  So, I hope they have enough confidence in POET to stick around.  Of course, they may be poised to purchase more units in an offering.  Shouldn't be all that long before we have a better idea.