Baba: My leading theory is that they told Poet that they were disappointed in the rate of progress toward commercialization and that this had been the case from pretty early on (explaining the previously delayed payments). 

Some merit in your theory Baba, and I think the market agrees with you. Not saying the sentiment is warranted, but until the company does something to convince the masses, it will continue to be more of the same.

Personally, I was surprised the Sanan LoI announcement didn't generate more of a response, and I suspect the company feels the same way.  Clearly, they are going to have to step up their game in order to generate the market interest we (as investors) are hoping for.