Technically, out if this world, especially considering the shoestring. Financially, not good, but the reasons are multiple and spread among many people, groups of people and circumstances. 

Management puts out info on an optimistic basis. Just like almost every pre-revenue company. However, they have explained how the business works and it was clear to most anyone that there was only so much of the timeline that Poet could control. 

Financings since Tom has been CFO were not all that bad at all until this last one which was a total fiasco. I'd put most of the blame there on the company, but did the traders and few shorters ever jump on the opportunity handed to them! Plus some longs who never met a money raise they liked! That one SEDAR filing with the blanks leveled us like a Sherman tank going over a VW Bug! 

Them's the facts!