Re: Excerpt from the SPX agreement

Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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HOGAN Junior

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Re: Excerpt from the SPX agreement

in response to

Re: Excerpt from the SPX agreement

POETMMc

posted on Aug 22, 2024 11:08AM

Is it as complicated as many are making it....?

SPX is an independent company and is operated as a true joint venture, so its financial results are not consolidated into POET’s but are reported as a gain in the value of the contribution to the JV and a gain or loss in the Company’s percentage ownership of the JV.

The Company has recognized a gain of $5,366,294 related to its contribution of intellectual property to SPX in accordance with IAS 28. (look that up if you are having trouble falling asleep)

At December 31, 2023 and June 30, 2024, the Company's investment in SPX was carried at nil because the losses in SPX exceeded the carrying value of the investment.