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  "notes": "Page 6 of 10 of a research note, containing 27 numbered footnotes with links and financial data points.",
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      "text": "15 POET's own 2025 SEC filings confirm its positioning. Its Q1 2025 interim disclosure states: \"The Company de-prioritized the development and sale of POET optical transceiver modules in 2025 to avoid conflicts with its module customers.\"",
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      "text": "18 See latest 20-F page 20 \"The Company invested approximately $15.9 million in 2025 in the development of its 800G and 1.6T optical engine chipsets and light sources for artificial intelligence...\"",
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      "text": "1 See POET's revenues as disclosed in its 20-Fs, 2020 ($0), 2021($209,100), 2022 ($552,748), 2023 ($465,777), 2024 ($41,427). 2025 ($1,074,865). Total: $2,343,917",
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      "text": "6 POET's FY2024 20-F annual report, discloses net cash from financing activities of $81,898,333 in 2024, $10,195,500 in 2023, and $3,435,204 in 2022. Its 2025 20-F shows it raised $292 million in financing activities.",
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      "text": "27 MMCAP International Inc. SPC is a segregated portfolio company organized in the Cayman Islands, managed by MM Asset Management Inc. of Toronto, Ontario.",
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      "kind": "quote",
      "text": "\"The Company de-prioritized the development and sale of POET optical transceiver modules in 2025 to avoid conflicts with its module customers.\" — POET Technologies Inc., Form 6-K Exhibit 99.2",
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