That's wrong.

MarketCap per 31.12.2020:

238,640,663.430 CAD with 294,618,103 shares outstanding

MarketCap per 12.12.2021:

331,988,836.270 CAD with 364,822,897 shares outstanding.

so, all in all, POET gained almost 100 million CAD in MarketCap. But due to a dilution (required due to 2016 financing and keeping the company alive) of 70 million shares, we only gained 8 CAD cents.

Without any dilution we would be valued now at 1,13 CAD instead of 0,91 CAD.