sevenOdouble schreef op 10 februari 2015 17:03:
POET Technologies Announces the Completion of the "3rd Party Foundry" 40/100-nm Transfer Milestone and Corporate Updates
TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwired - Feb. 10, 2015) - POET Technologies Inc. (TSX VENTURE:PTK)(OTCQX:POETF) (the "Company") - developer of the planar opto-electronic technology ("POET") platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer - today announced the completion of its "3rd party foundry" 40/100-nm transfer milestone. The Company also announced $4 Million in additional capital raised from institutional and accredited shareholders through the exercise of warrants during the month of January 2015, and the resignation of Dr. Adam Chowaniec from its Board.
Completion of Milestone - "3rd Party Foundry" 40/100-nm Transfer
The Company completed its "3rd Party Foundry" 40/100-nm transfer milestone consisting of completing the critical layers of the Transistor Fabrication Process. This flow process will allow the Company to generate more complex prototypes and test structures. As the POET process node size shrinks, this facilitates new industry innovations and furthers development work. This new epitaxial flow process includes new innovations in the POET prototype fabrication process. These innovations were necessary to continue the optimization work of the 100 and 40-nm foundation devices of our technology.
Dan DeSimone, Chief Technical Officer noted: "This is a significant step for our "lab-to-fab" transition where this new flow at our "3rd Party Foundry" accelerates and adds repeatability and quality to our manufacturing process necessary for our next two significant milestones expected at the end of Q1: a 100-nm ring oscillator and a 50 GHz VCSEL."
Financial Position
The current cash position for the Company is approximately $17 Million as of the end of January 2015, aided by conversion of existing warrants during January. "The Company's ability to continue raising significant capital without cost to the Company and without new dilution to the stock demonstrates continued support towards our "Lab-to-fab" transition. This positions the Company to continue its pace of technical progress," said Mr. Kevin Barnes, CFO. "This capital allows us the flexibility to aggressively pursue our plan working with our "3rd Party Foundry" and other partners in transitioning our technology to external manufacturing environments, aiding our monetization strategy. I am extremely pleased with our very strong financial position," continued Mr. Barnes.
Adam Chowaniec Resigns from the Board
Dr. Adam Chowaniec has resigned from the Board for personal health reasons.
POET has benefited tremendously from Dr. Chowaniec's industry experience and his guidance throughout the transformation of the Company since first joining the Board in April of 2013. He was part of the "Special Strategic Committee" that helped the Company recognize the inherent value of its intellectual property for the semiconductor industry; and participated in the creation of what POET is today, one of the leading firms offering a new manufacturing paradigm to further the semiconductor industry roadmap. "On behalf of the Company and the Board, I would like to thank Adam for his many contributions during his tenure and we wish him well for the future," said Mr. Copetti.