This is where we will really get a hold of the fab-light strategy financial impact.

I've done some rough calculations based on available information in the 2019 20-F form. Please note the recent hires (November 2019), highly-paid individuals and hopefull heavy-hitters...

I expect a burn-rate (cash only) of approximately 500-525K$/month for the first 3 months of 2020.

The question is how much NREs (its only source of revenues) POET will be recognizing for Q1-2020.

Considering that the first major NRE contracts was approx $US3M, would it be possible that POET land 2 or 3x times that in 2020. If yes, could POET in it's new-state (fab-light) eventullay turn into a cash-neutral company by landing  approx 9-10M$ NREs in 2020. I'm not saying profitable, I'm saying cash-neutral since share-based compensation amounted to approximately $3M in 2019

The good news, is that POET does have plenty of cash on hand following the divesture of Denselight and enough fund to carry it well into 2021 and even if no warrants or options are exercised. For the record, I do hope they all get exercised (except the ones from the bloody HCW financing...) which would than mean that a higher share has been reached and sustained.

Finally, I would gladly welcome a NRE news like we had back in November 2018 but with a higher contract value this time.