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POET Technologies Inc. (TSX Venture: PTK; OTCQX: POETF) announced the formation of a Sub-Committee by its Board of Directors to facilitate its upcoming NASDAQ listing. This Sub-Committee will evaluate the timing, share consolidation ratios, and potential up-listing from the TSX Venture Exchange. The findings are expected to be reported by early 2022. CEO Suresh Venkatesan highlighted previous shareholder approvals for share consolidation and the company's application to NASDAQ, aiming to optimize the listing timing to enhance shareholder value.
POET Technologies Inc. announced the successful exercise of C$0.52 warrants, raising approximately US$14.1 million. A total of 33,867,000 out of 34,800,000 warrants issued in 2016 were exercised, generating significant capital. The company's cash balance as of November 2, 2021, stands at about US$23.8 million. Senior management will present at the GCFF Virtual Conference on November 4, 2021, where CFO Thomas Mika will discuss the company’s growth and product development.
POET Technologies Inc. (OTCQX: POETF) announced a key supply agreement with a leading laser supplier to design and produce flip-chippable Continuous Wave (CW) lasers for its 400G Optical Engines. This phased collaboration aims to customize a current CW laser for compatibility with POET's Optical Interposer platform, enhancing performance and reducing time-to-market. Initial production chips are expected by mid-2022, aligning with the company's roadmap. The partnership reinforces POET's strategy to secure reliable laser supply amidst ongoing supply constraints.
POET Technologies Inc. held its Annual General and Special Meeting (AGSM) on October 7, 2021, where shareholders approved all proposed resolutions. The company's CEO outlined a vision for leadership in the photonics sector, emphasizing new product innovation for 2021-2022. Highlights of the meeting included a successful launch in China and a design win from a leading systems company. Financial aspects discussed featured plans for a Nasdaq listing and a significant increase in available stock options. Notably, 88.54% of shareholders supported a consolidation of issued securities.
POET Technologies Inc. announced a significant milestone with a commitment for a multi-engine design for 100G CWDM4 and 100G LR4 Optical Engines, valued over US$1.2 million. This contract with a leading network systems company showcases the potential of the POET Optical Interposer in telecommunications, particularly for data centers. The company also reported a healthy cash balance of approximately US$20 million as of September 30, 2021, and noted that most of its outstanding warrants have been exercised, indicating strong investor confidence.
POET Technologies recently showcased its Optical Interposer and Optical Engine products at major optoelectronics conferences in China, generating significant interest and customer engagement. The company announced a commitment from Shenzhen Fibertop Technology to integrate its Optical Engines into their modules. Live demonstrations highlighted six applications, including a 400G FR4 transmit engine. The event attracted over 60 senior executives from 20 companies, indicating strong demand for POET's innovative solutions in the optical transceiver market.
POET Technologies has shipped its first 100G Transmit Optical Engine sample to a prominent European optical systems company. The shipment supports a 400G transceiver application and demonstrates strong performance metrics. Additional samples are slated for delivery within the month, with customer demonstrations occurring at the CIOE conference in Shenzhen. The company plans to showcase its 400G Transmit Engine and other products at the event, enhancing visibility among potential clients.
POET Technologies Inc. (OTCQX: POETF) announced it will conduct a live demonstration of its 400G optical engine at the ICCSZ Conference and the CIOE in Shenzhen, China, from September 14-18, 2021. The demonstration showcases POET's hybrid integration platform using four Continuous Wave (CW) lasers and a Silicon Photonic Modulator PIC from SiluxTek. This technology aims to provide a scalable, cost-effective solution for high-speed data transmission. POET will also present its 100G CWDM Transmitter and 200G CWDM Receiver, highlighting its innovative product roadmap.
POET Technologies Inc. (TSX: PTK; OTCQX: POETF) announced its participation in the H.C. Wainwright 23rd Annual Global Investor Conference from September 13-15, 2021. The management presentation will be available to conference participants on September 13. To enhance its Investor and Public Relations efforts, POET has engaged media expert Adrian Brijbassi, who brings over 25 years of experience. He will focus on content creation and social media development and will be compensated CA$4,000 monthly for six months starting September 1, 2021.
POET Technologies Inc. reported its Q2 2021 financial results, showing a net loss of $4.2 million or ($0.01) per share, an improvement from $6.2 million net loss in Q2 2020. The company completed the design of a 100G LR4 optical engine and announced the availability of 100G and 200G CWDM4 Optical Engines. Cash and cash equivalents increased to $22 million from $11.9 million a year ago. POET also filed a $300 million registration statement for potential future equity issuances.
