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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
- POET Announces Closing of CAD$10 Million Non-brokered Financing with a Single Institutional Investor • GlobeNewswire Inc. • 05/03/2024 03:45:00 PM
- POET Announces Additional Private Placement Financing for CAD$10 Million • GlobeNewswire Inc. • 04/29/2024 07:40:37 PM
- POET Announces CAD$10 Million Non-brokered Financing • GlobeNewswire Inc. • 04/29/2024 11:00:00 AM
- POET Augments Investor Outreach Efforts and Announces Management Role Change • GlobeNewswire Inc. • 04/17/2024 11:12:00 AM
- AI & Technology Hybrid Investor Conference Agenda: Presentations Now Available for Online Viewing • GlobeNewswire Inc. • 04/12/2024 02:07:03 PM
- AI & Technology Hybrid Investor Conference Presented by Water Tower Research Agenda Announced for April 10 and 11 • GlobeNewswire Inc. • 04/09/2024 02:26:42 PM
- POET to Present at the AI & Technology Hybrid Investor Conference Presented by Water Tower Research on April 10 • InvestorsHub NewsWire • 04/03/2024 12:18:39 PM
- POET to Present at the AI & Technology Hybrid Investor Conference Presented by Water Tower Research on April 10 • GlobeNewswire Inc. • 04/03/2024 12:00:00 PM
- POET and MultiLane Collaborate to Develop High-Speed Pluggable Transceivers for AI Networks • InvestorsHub NewsWire • 03/27/2024 02:52:22 PM
- POET and MultiLane Collaborate to Develop High-Speed Pluggable Transceivers for AI Networks • GlobeNewswire Inc. • 03/27/2024 10:57:00 AM
- POET Enters Optical Module Market with 800G Transceiver for Artificial Intelligence Networks • InvestorsHub NewsWire • 03/26/2024 12:27:32 PM
- POET Enters Optical Module Market with 800G Transceiver for Artificial Intelligence Networks • GlobeNewswire Inc. • 03/26/2024 11:02:00 AM
- POET Technologies Announces Intention to Amend Warrant Terms • GlobeNewswire Inc. • 03/22/2024 07:32:38 PM
- POET to Demo AI Hardware Products for 800G and Beyond at OFC 2024 • InvestorsHub NewsWire • 03/22/2024 03:25:07 PM
- POET to Demo AI Hardware Products for 800G and Beyond at OFC 2024 • GlobeNewswire Inc. • 03/21/2024 11:00:00 AM
- POET Technologies Reports Fourth Quarter 2023 Financial Results • GlobeNewswire Inc. • 03/15/2024 08:51:44 PM
- POET Technologies Announces the Grant of Stock Options • GlobeNewswire Inc. • 02/20/2024 12:00:00 PM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 02/08/2024 06:52:00 PM
- Poet Technologies announces closing of c$6.2 million non-brokered private placement of units • InvestorsHub NewsWire • 01/26/2024 11:20:45 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/25/2024 02:06:40 PM
- POET Technologies Announces Closing of C$6.2 Million Non-Brokered Private Placement of Units and Reports Preliminary Unaudited Fiscal Fourth Quarter and Fiscal Year 2024 Results • GlobeNewswire Inc. • 01/25/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/22/2024 09:55:09 PM
- POET Technologies Upsizes Non-Brokered Private Placement • GlobeNewswire Inc. • 01/22/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/16/2024 01:04:23 PM
- POET Technologies Provides Update on Non-Brokered Private Placement • GlobeNewswire Inc. • 01/16/2024 12:00:00 PM
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