I agree that if the 100nm (MS8) was completed, they would have written the NR with more clarity. I don’t really care if they hit it or not, for reasons explained below.

My speculations (predictions?):

1. The 100nm goal is near, but could be completed more easily/completely in a state of the art fab.

2. The fab they are talking with now has seen that 100nm is on the horizon and they do not have concerns about being able to reach that node. After all, the 100nm goal is an arbitrary target. As Taylor predicted in the old G&M article, POET could surpass CMOS at 200nm. I would think if we are at ~150nm or less we are already desirable.

3. Manocha coming aboard means that GF will be the first partner. Other fabs may follow, but Manocha's connection to GF makes a partnership with them almost a certainty.

4. POET and GF also must have an unnamed TCAD partner which will be announced when the POET/GF partnership is done, and then the PDA will be officially founded.

5. It is unlikely that GF (and Manocha) would sign on unless there was near certainty that there was market for at least one POET-based design. I think the partner will be someone like Avago, Finisar, Juniper which can make use of the design work already begun by POET in the areas of "optical interface" chips covered by the white paper.

Again, this is just speculation by me. If I really wanted to go out on a limb I think we could even see another NR within the next couple of weeks. The groundwork for a deal with a foundry partner is likely in the late stages and could be wrapped up in short order. POET may want to sustain the SP south of the border to begin the NASDAQ/NYSE quest.

GLTA!