My guess is there is no financing. We don't need money to do what we've been doing up to this point -sepecially with more warrants coming due in the next month and a half.

What I'm banking on is that something new is in the works and the time to get the lawyers out of the way is taking (as always) longer than expected. Of course I'm referring to some kind of licensing deal.

Alternatively, POET is working on something bigger than expected that will require more cash to proceed. In that case I would expect a JV with most of the cash + other resources suppied by our partner.

My gut feeling is that the intention to file NI 44-101 is as rob suggested - a shelf registration. This is something that will be ready when needed, whenever the lawyers give the go-ahead to announce something.

My reasoning (weak as it is, beign more-or-less just a guess) is that POET has never been so tight lipped as they are now. This could be explained by the transistion to new top-level management with different views on disclosure, or worse - and actual problem like the sputter tool that needs to be fixed before being reported. But I think the fact that we have new top-level management says we are ready to transition to a revenue generating model. If we are wotking on a big deal we wouldn't be allowed to give any updates or tip off the market in any way.

Suffice it to say, if being quiet is going to the new style of disclosure I'll be very unhappy.