I completely agree with you, FJ.  I was quite terrified at our financial cliff and nonplussed as to why the company would bring us to the brink before raising money, since in the past they had done enough raises to keep us going, albeit on a shoestring.  Of course, we don't know what we don't know.   Perhaps an expected event that would provide the company money fell through.  
In the end, I find it comforting that they did what it took to keep the company going even when it was painful.   It speaks to the determination they have to meet that goal of turning Poet into one of the important companies in this space.  We are still in the game, and we still have really important tech. 
An honest look at the past says we've missed hoped for 'deadlines', but an equally honest look says we have expanded and improved marvelously what Poet has to offer.  
Perhaps we would like to armchair quarterback how they approached the business side, but I am trusting they will do what is needed to bring us through to sales, and they have so many entry points that when the contracts start they will pour in.  
Maybe I'm wrong about that, but I do believe it, which is why I'm still holding and have even added a little, (and yes, I was here when Suresh became the CEO) in spite of the emotional bungee jumping ride it has given me.  
I don't know what I don't know, so I don't know WHY they did things like they did, and I know all we can give are guesses, which will probably be proven to all be wrong.   Life has taught me that!  What I can assess is what they now have, and it is worth holding onto, imo. 

As much as we'd like to believe in a rational market that invests on technicals, it mostly is momentum that carries stocks, up or down.  Technicals aren't ignored forever, but they can be ignored for a long time.  One of these days/years (lol) I fully believe we will see the momentum carry us up, and when it does I think it'll be fast, so I'll hold. Wishing us all the best.