POET Applied sciences, Canadian firm with Lehigh County operations, strikes as much as NASDAQ market

Shares of POET Applied sciences Inc., a Toronto-based expertise firm with operations in Lehigh County, moved up Monday to the Nasdaq Capital Market after buying and selling over-the-counter.

The corporate, which has an workplace in South Whitehall Township, began buying and selling below the ticker image POET. Day one on the brand new market didn’t go nicely, with the shares falling $2.15 to $8.85. POET shares additionally commerce on the TSX Enterprise Change below the image PTK. The corporate’s personal assertion says that investing in POET is “extremely speculative.”

POET makes an “optical interposer” to serve information heart and telecommunications markets. The corporate stated the interposer combines electronics and photonics (the bodily science of sunshine waves) and might, POET says, get rid of steps within the semiconductor-manufacturing course of.

“Our buying and selling at the moment on the Nasdaq marks a big milestone for POET,” Chief Govt Officer and Chairman Suresh Venkatesan stated in a press release.

The corporate generates little income ($209,100 within the 9 months ending Sept. 30, 2021) and doesn’t earn cash. POET misplaced $3.47 million within the third quarter of 2021.

Its assertion in regards to the transfer to NASDAQ consists of this warning: Buying and selling within the securities of the Firm ought to be thought-about extremely speculative. No inventory change, securities fee or different regulatory authority has authorised or disapproved the data contained therein.

Buying and selling in POET shares Monday totaled 98,700 as of 4:15 p.m.

 

 

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