Dear Agoracom friends,

Capital is the life blood of businesses.  All companies must be allowed right to raise capital when required.  Do the calculations based on the information we know and the capital requirement for POET Technology Incorporated (PTI) is moving into an area of concern. The current plans are tight on timing.   Lets examine this concern a little deeper in view of the new commercial opportunity created by the Acelink MOU..

The facts are that this risk has been a known and understood for a long time, the CFO has expressed his preference not to use a PO, and there are no signs of a change in his demeanour that conveys anything other than that he has confidence that his 'cunning plan' is working  to meet capital requirements needed without the need of a dilutive PO, if at all possible.  His recent response to the regulatory authorities that we have interested partners and customers is literally him shouting from the rooftops to us anxious shareholders that all is well and  the Board of Directors is right behind me too.  Surprise surprise, just  a little time passes from his public statement to the authorities and a MOU is signed with Accelink that provides a path to full commercialisation of a first PTI product and revenue.  The company's credibility has been significantly advanced  in consequence and the SP reflects this in its scintillating recovery, hopefully to its previous highs at least.

I can now better understand the cautious, hurt, disappointed and fearful  but in comparison to the dark days,  the earlier concept, that certainly I felt, that there was something about the night of our newfound CFO has surely been blown apart by this man's actions .  Actions that reassuringly say that here we have an experienced operator who knows what he is doing and is signalling to us to be calm and supportive.  He has made this company believable again.

Similarly, significant doubts have been expressed here about the competence of our CEO Suresh Venkatesan (SV), particularly for the inept handling of the panicked PO of November  2016 and the doldrums that the company's SP languished in for 15 months, which inflicted pain on those who were not able to see the true shareholder value being built into POET by its acquisition policy, and suffering on those whose faith in the technology was being challenged by a deluge of doubters, the 'this company has nothing' brigade of this board (curiously absent now).  Many recommended his departure which as we see now would have been throwing the baby out with the bath water.  In truth this mans tenacity as an IC ENGINEER has placed this company on a path that can, with genuine rational reason, be determined to lead to PTI success.  This backed by a Board of Directors whose combined experience, and in some cases deep pockets, reassuringly provides us as investors with confidence than ever before.

This project is now gaining the momentum that we have all hoped for.  It does not need much imagination to see how much Shareholder Value has been built in the two and half years since SV swivelled the company's strategy in September 2015.  Good companies are essentially made up of people with talent, imagination, qualifications and determination to achieve clearly set out objectives by leaders.  Creating the right environment and recruiting the right people has to be attributed to our CEO backed by the CFO that he recruited to fill the gaps in his financial management knowledge and in him personally convincing talented leaders in the IC industry to become new board members by illuminating the real potential POET offers into the future as a world class company in its field.

To answer my premise about the essential requirement for companies to have the life blood of capital.  I submit that the maturity of this company and its proven performance places this company in an altogether different category than it was in November 2016 should there be a need to raise capital.   I for one would not be alarmed should a PO be necessary, principally because I want to see POET obtain a significant measure of independence in its future development towards becoming a world leader without over reliance on partners.

Whilst focus is currently on the first product, the interposer, a winner in the making, lets not forget the Intellectual property (IP) that PIC owns which  effectively makes this company future proof.  Whilst capital growth through profits is key to product development from POET IP like the AOC and ROSA, lets not dismiss the leg up and independence that a PO provides in leveraging technical development without over dependence on partners who lets face it have the capacity to swallow one whole.  Personally, I think maintaining POET independance is at the heart of SV's  strategy as his stated aim is to create a world class PIC company through integrated optoelectical products, which means he does not want to be eaten up by merger or acquisition.  The MOAContrictor of business life.

And finally - I  pay tribute to and salute our CEO and CFO - well done sirs - you've made an old man content and contemplative in his dotage with  a Dragonfly 28 Trimarane (SULA TWO) more of a possibility than the distant vision it had become in POET's dog days.  A thought now greatly embellished with a potential sailing trip to San Remo on the cards too ( hoffenlich Andech nicht vahr!)

With warm regards to all my tenacious and happy Agoracom friends.

Sulasailor