jets911,

From the April 1 POET NR announcing the bridge financing:

”The first component of the financing consists of the issuance of up to C$14 million principal amount of 12% convertible unsecured debentures (the “Convertible Debentures”) of the Company. The Convertible Debentures will be sold in multiple tranches over upcoming months, as needed, on a brokered private placement basis through the Company’s financial advisors, IBK Capital”.

So I think the $14 million referenced in the IBK email is the overall amount from the multiple tranches combined, not $14 million from the 4th tranche alone.