Dear Sonum,  

There,clearly shown, in FCO Thomas Mica’s presentation yesterday is the GaAs part of the POET triumvirate development strategy.  Personally, I took heart that it was there as itwould suggest that all is well with Wavetech and plans for the GaAs side of the business.  

I think we would be making an error if we considered all the work that has already gone into  integrated monolithic GaAs IC has just ended AOC et al. This work is the Holy Grail for POET and I for one very much want to see that part of the PTI strategy regains some focus particularly now the capital situation has greatly improved and without overly spooking the SP.  The fund of another run up in share price cannot be that far away with all the plus points and PR that is going on as I type.

My expectations are that although the development iterations were too expensive to continue resulting in the halt, that had to be called for financial reasons, there has/is technical progress being made in the background for both for the 4th terminal work-around solution through, research, deep thought on someone’s behalf (GT perhaps)  and consultation etc., into just how to connect the 4th terminal. If I remember correctly, Shash indicated that this would require advancement on the manufacturing technology available (the machines) to achieve this. THis might have happened!. All this logically would have been an objective given to the research side of the Company (a special projet) or, surely some of those many new employees and sponsored PhDs at Universities (Swansea) might well be directed at this.

I am of course, as ever, being hopeful - a sin apparently if we listen to the glooms.. But surely, even the ‘we’ve got nothing until I see the money) brigade who have been rather silent in the face of truly epic news, must now be warming to some degree to the notion that the signings, NR and briefings are at the very least clear demonstrations that this company is taking itself very seriously, as are indeed some of the most knowledgeable people in the Photonic field who are defacto thinking very seriously aboutthe POET offerings.I would think if it’s good enough for them it will be good enough for the average Joe Punter looking for the next best thing for his technology portfolio. Othere on the sideline observing might well see the current situation as the best chance to get back in.

Best let’s not count our chickens before they hatch, but that ET mania concept always had some logic to my mind - and certainly wild appeal. For 4 years, at some point I have been expecting an out of control run up in SP running up to a peak, with all the mad enthusiasm, and then a fall back to a more balanced valuation.  I want to aim a percentage of my holdings at that peak to enjoy some liquidity (read that as you like) at long last in my fast approaching dotage. (your already there I hear you say) you bounders! I reply But then glloomily I wonder was that opportunity might well have been the $C1.60 I bought in at just at the top of the Pelligrino Valuation bonansa - I think not!

With warm regards,

Sula