RE:Now into the "distribution" phase
Baggie it is not that difficult to figure out why SI/Pinetree is buying. It is what rich people do to get richer. Didn’t you say he would be selling? Instead he is buying? So let’s break it down logically. Sheldon now owns 6,429,500 shares personally with just over 4.9 million shares in his RRSP. The shares he purchased in the last private placement were all in his RRSP. So why would he do this? He can’t take a tax loss in RRSP can he? With the 200k he just bought in the open market at $1.00 Pinetree now owns 8,725,385 common shares. So in combination Sheldon now has control over 9.4% of the outstanding shares of POET. Fully diluted this is roughly 18.2% as per the early warning report which is of course a misleading number since if all company warrants and options are exercised his total would be about 13%. So if we just look at this from the point of view of Sheldon’s personal ownership he now owns $6.5 million in stock. Do you think that he would buy more shares at $1 if he did not believe that POET’s business plan would be successful? He owns way too much of this company if his intention was to try to create a run-up with his buying so he could unload into the market. So Baggie if this is what you are somehow trying to imply as his motive then ether you think the people here are very stupid or you are very stupid. Sheldon’s exit strategy is clearly to take profits in a liquidity event that he obviously believes is coming. He owns way too many shares to make any money otherwise. By the way. I have no idea where you got the 40+ million shares of control? Obviously another lie because the total SI/Pinetree control with all warrants exercised including yesterday’s 200k purchase is exactly 28,626,270. Like I said Baggie people here are not stupid. Respectfully fairchij. Hope I did not tarnish your good name.