Maybe the short and simple and not over thinking reason from Tom was first the LOI, and to further boost the sp, a Signed and definitive JV agreement. 

With the span of time in between the 2, it gave him reason to extend and expect the sp to pass the warrant exercise price.

Nothing more except hoping that investors would jump in. 

If Poet did not have the, storied history, and was just coming out the gate, then I believe the sp would be in the 3 digits now. 

I'm thinking lack of sp moving is a combination of the above and shareholder fatigue and to some total capitulation. jmo