Poet Technologies Inc (OTC-POETF) stock tanked emphatically as it recorded a rise of 25.85% to $1.0000 at the previous close. The stock performance over the last week was 23.46% versus its monthly performance of 12.36%.
Company’s Profile
Poet Technologies is a design and development company offering integration solutions utilizing the POET Optical Interpose, a novel platform for the seamless integration of semiconductor manufacturing techniques and packaging methods to allow the integration of electronic and photonic devices into multi-chip modules.
What happened Recently
Oct. 05, 2021 – POET Technologies Inc. (OTCQX: POETF), revealed a deal with a leading network systems company for a unique multi-engine design for 100G CWDM4 and 100G LR4 Optical Engines based on the POET Optical Interposer. The NRE and purchase order for initial units exceeds US$1.2 million.
“POETF has been working with this customer on a breakthrough design to integrate multiple optical engines into a single industry-standard transceiver module for several months,” noted Vivek Rajgarhia, President & General Manager of POET Technologies Inc. “LR4 is directed at the client-side of global telecommunications networks, using strict standards for data communication between transport networks and data centers. Having already sold into the well-established telecom equipment market, our clients will now be able to offer its customers a superior solution at a price that no one currently is able to match.”
As of September 2020, LightCounting noted an increase in demand for 100G LR4 transceivers with a 10km reach, reversing its previous revenue forecast of a flat $300 million to one of more than $700 million over the period 2020 – 2025.
As evidenced by the commitment from a Tier 1 customer and the numerous other engagements with other clients, POETF platform solution can benefit multiple product designs, and the Optical Interposer’s hybrid integration approach is building a market.
Also, POETF reported that it had approximately $20 million in unaudited cash on September 30, 2021. Furthermore, the company provided information showing that nearly all the C$0.52 warrants due to expire on November 2, 2021, were exercised during their 5-year lifetime. Around 11 million warrants, valued at USD 4.5 million, are outstanding and not yet redeemed.
POET Annual General and Special Meeting
The annual general meeting and special meeting of POETF will take place remotely via the Lumi NA online platform at 1:00 PM EDT on Thursday, October 7, 2021. The meeting is open to all shareholders of POET Technologies.
