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Posts | 18729 |
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Alias Born | 04/22/2010 |
Wednesday, November 28, 2018 6:17:41 PM
The Company had working capital of $6,076,334 on September 30, 2018 as compared to $7,140,119 on December 31, 2017.
The Company’s balance sheet as of September 30, 2018 reflects assets with a book value of $27,696,766 compared to $25,205,772 as of December 31, 2017.
Thirty-two percent (32%) of the book value as of September 30, 2018, or $8,900,252, was in current assets consisting primarily of cash and other current assets, compared to thirty-two percent (32%), or $7,950,712 as of December 31, 2017
Ok, so POETF definitely needs to raise cash soon as it has less working capital today than it had EOY 2017 despite the March 2018 PO
On March 21, 2018, the Company strengthened its working capital position relative to December 31, 2017 by completing a “bought deal” public offering of 25,090,700 units at a price of $0.425 (CAD$0.55) per unit for gross proceeds of $10,663,548 (CAD$13,799,885). Each unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the Company at a price of $0.58 (CAD$0.75) per share until March 21, 2020. The broker was paid a cash commission of $639,813 (6%) of the gross proceeds and received 1,505,442 compensation options. Each compensation option is exercisable into one compensation unit of the Company at a price of $0.425 (CAD$0.55) per compensation unit until March 21, 2020 with each compensation unit comprising one common share and one-half compensation share purchase warrant. Each whole compensation share purchase warrant entitles the broker to purchase one common share of the Company at a price of $0.425 (CAD$0.55) per share until March 21, 2020. The Company paid an additional $492,177 in other costs related to this financing. The Company received $9,470,404 net of share issue costs. Additionally, the Company raised $1,116,445 from the exercise of warrants and stock options.
Here's why >>
Explanation of Results for the nine months ended September 30, 2018 (the “period”) compared to the same nine-month period in the prior year (“September 30, 2017”)
Net loss before taxes for the nine-month period ended September 30, 2018 was $12,950,543 as compared to net loss before taxes of $10,180,497 for the nine months ended September 30, 2017. The following explains the 27%
or $2,770,046 variance in net loss between September 30, 2018 and September 30, 2017. The largest increase for the comparative periods was R&D which increased by 65% or $2,212,940 to $5,624,919 in 2018 from $3,411,979 in 2017. Since the acquisition of DenseLight and BB Photonics in May and June of 2016 respectively, the Company has systematically increased its R&D activities in an effort to bring new products to
market and expand its product portfolio. The increased R&D activity has contributed to the continued progress of the new POET Optical Interposer platform utilizing the Company’s proprietary dielectric waveguides. As a result of increased R&D spending in the period, the Company successfully demonstrated the functionality of PIN photodetectors targeting 100G to 400G optical transceivers. New skilled technical human resources, especially in optics and photonics device testing, represent the largest area of increase in R&D. The increase is consistent with the Company’s budgeted R&D activity. Our expectation is that the R&D activity conducted in 2018 will lead to sales of new products in 2019.
"copy/pastes" from News Releases/Presentations are all TRUE FACTS and NOT "hype" as some kooky knuckleheads would like you to believe
Recent POET News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/20/2024 02:02:21 PM
- POET and Mitsubishi Electric Collaborate to Develop 3.2T Optical Engines for AI Networks • GlobeNewswire Inc. • 09/19/2024 11:35:45 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/11/2024 01:18:10 PM
- InSiGa Technologies and POET to Demonstrate Laser Driver and Optical Engine Combinations for 800G and 1.6T Optical Modules at CIOE • GlobeNewswire Inc. • 09/11/2024 11:00:00 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/11/2024 04:15:10 AM
- POET Selected by Mentech to Supply Engines for 800G and 1.6T Optical Modules • GlobeNewswire Inc. • 09/10/2024 11:00:00 AM
- Form F-10/A - Registration Statement for Securities of certain Canadian Issuers.: [Amend] • Edgar (US Regulatory) • 09/09/2024 09:24:46 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/05/2024 09:30:28 PM
- POET to Demonstrate Leading-Edge Optical Engines for AI Market at CIOE 2024 • GlobeNewswire Inc. • 09/05/2024 12:42:27 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/30/2024 06:30:17 PM
- POET Streamlines its Global Engineering Organization in Response to AI Market Demand • GlobeNewswire Inc. • 08/29/2024 11:00:00 AM
- POET Technologies Reports Second Quarter 2024 Financial Results • InvestorsHub NewsWire • 08/15/2024 12:04:07 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/14/2024 09:25:08 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/14/2024 08:38:21 PM
- POET Technologies Reports Second Quarter 2024 Financial Results • GlobeNewswire Inc. • 08/14/2024 08:30:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/02/2024 02:08:06 PM
- POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • InvestorsHub NewsWire • 08/01/2024 01:28:55 PM
- POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • GlobeNewswire Inc. • 08/01/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/19/2024 09:03:51 PM
- POET Technologies Announces US$10 Million Registered Direct Offering • GlobeNewswire Inc. • 07/19/2024 08:50:31 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/19/2024 08:32:37 PM
- POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • InvestorsHub NewsWire • 06/26/2024 02:09:28 PM
- POET Wins “Best Optical AI Solution” in 2024 AI Breakthrough Awards Program • GlobeNewswire Inc. • 06/26/2024 02:05:00 PM
- POET Technologies Provides Results of 2024 Annual General and Special Meeting • GlobeNewswire Inc. • 06/25/2024 06:08:29 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/30/2024 12:28:44 PM
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