POET Technologies Inc. Files 20-F for Fiscal Year Ended December 31, 2023

Ticker: POET · Form: 20-F · Filed: Mar 28, 2024 · CIK: 1437424

Poet Technologies Inc. 20-F Filing Summary
FieldDetail
CompanyPoet Technologies Inc. (POET)
Form Type20-F
Filed DateMar 28, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$50M, $22.5M, $25M, $7 million, $5,366,294
Sentimentneutral

Sentiment: neutral

Topics: POET Technologies, 20-F Filing, Annual Report, Fiscal Year 2023, Securities Filing

TL;DR

<b>POET Technologies Inc. has submitted its 20-F annual report for the fiscal year 2023, detailing its financial and operational status.</b>

AI Summary

POET TECHNOLOGIES INC. (POET) filed a Foreign Annual Report (20-F) with the SEC on March 28, 2024. POET Technologies Inc. filed its annual 20-F report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 120 Eglinton Avenue East, Suite 1107, Toronto, Ontario, M4P 1E2. POET Technologies Inc. was formerly known as OPEL INTERNATIONAL INC., with a name change on June 11, 2008. The filing is made under the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking POET TECHNOLOGIES INC., this filing contains several important signals. This 20-F filing provides a comprehensive overview of POET Technologies' financial performance and business operations for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. As a foreign private issuer, POET Technologies' 20-F filing offers insights into its compliance with U.S. securities regulations and provides a standardized format for international companies to report to the SEC.

Risk Assessment

Risk Level: low — POET TECHNOLOGIES INC. shows low risk based on this filing. The filing is a routine annual report (20-F) and does not contain new material events or significant financial disclosures that would indicate immediate high risk.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand POET Technologies' performance and potential challenges for the upcoming fiscal year.

Key Numbers

  • 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
  • 2024-03-28 — Filing Date (FILED AS OF DATE)
  • 2023 — Year (Fiscal Year)
  • 2022 — Previous Year (Fiscal Year)
  • 2021 — Prior Year (Fiscal Year)

Key Players & Entities

  • POET TECHNOLOGIES INC. (company) — COMPANY CONFORMED NAME
  • OPEL INTERNATIONAL INC. (company) — FORMER COMPANY
  • 2024-03-28 (date) — FILED AS OF DATE
  • 2023-12-31 (date) — CONFORMED PERIOD OF REPORT
  • 120 EGLINTON AVENUE EAST (address) — BUSINESS ADDRESS
  • 401-338-1212 (phone) — BUSINESS PHONE
  • 001-41319 (filing_id) — SEC FILE NUMBER
  • 20080611 (date) — DATE OF NAME CHANGE

FAQ

When did POET TECHNOLOGIES INC. file this 20-F?

POET TECHNOLOGIES INC. filed this Foreign Annual Report (20-F) with the SEC on March 28, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by POET TECHNOLOGIES INC. (POET).

Where can I read the original 20-F filing from POET TECHNOLOGIES INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by POET TECHNOLOGIES INC..

What are the key takeaways from POET TECHNOLOGIES INC.'s 20-F?

POET TECHNOLOGIES INC. filed this 20-F on March 28, 2024. Key takeaways: POET Technologies Inc. filed its annual 20-F report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal business address is 120 Eglinton Avenue East, Suite 1107, Toronto, Ontario, M4P 1E2..

Is POET TECHNOLOGIES INC. a risky investment based on this filing?

Based on this 20-F, POET TECHNOLOGIES INC. presents a relatively low-risk profile. The filing is a routine annual report (20-F) and does not contain new material events or significant financial disclosures that would indicate immediate high risk.

What should investors do after reading POET TECHNOLOGIES INC.'s 20-F?

Review the detailed financial statements and risk factors within the 20-F filing to understand POET Technologies' performance and potential challenges for the upcoming fiscal year. The overall sentiment from this filing is neutral.

Key Dates

  • 2024-03-28: Filing of 20-F — Submission of the annual report for the fiscal year 2023.
  • 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
  • 2008-06-11: Name Change — Date POET Technologies Inc. changed its name from OPEL INTERNATIONAL INC.

Filing Stats: 4,484 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-03-28 17:27:49

Key Financial Figures

  • $50M — mbined estimated value of approximately $50M. Capitalization is on-going and has not
  • $22.5M — s valued by an independent appraiser at $22.5M. Sanan IC will contribute cash of appro
  • $25M — C will contribute cash of approximately $25M for capital equipment and operating exp
  • $7 million — lification and outflow of approximately $7 million from Sanan IC to cover initial operatin
  • $5,366,294 — The Company has recognized a gain of $5,366,294 related to its contribution of intellec
  • $17,127,825 — terest in SPX, the unrecognized gain of $17,127,825 will be applied against the investment
  • $20,267,365 — or the year ended December 31, 2023 was $20,267,365. The net loss included $10,077,930 incu
  • $10,077,930 — was $20,267,365. The net loss included $10,077,930 incurred for research and development a
  • $1,539,235 — development included non-cash costs of $1,539,235 related to stock-based compensation. $1
  • $10,795,155 — 35 related to stock-based compensation. $10,795,155 was incurred for selling, marketing and
  • $2,662,209 — penses which included non-cash costs of $2,662,209 related to stock-based compensation and
  • $1,922,140 — related to stock-based compensation and $1,922,140 related to depreciation and amortizatio
  • $70,182 — nd amortization. The Company incurred $70,182 of interest expense, of which $53,614 w
  • $53,614 — d $70,182 of interest expense, of which $53,614 was non-cash. Page 2 The Company re
  • $1,031,807 — tellectual property to joint venture of $1,031,807. Additionally, the Company's share of l

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No POET TECHNOLOGIES INC. FORM 20-F ANNUAL REPORT TABLE OF CONTENTS Page Introduction 1 PART I Item 1. Identity of Directors, Senior Management and Advisers 4 Item 2. Offer Statistics and Expected Timetable 4 Item 3. Key Information 4 Item 4. Information on the Company 20 Item 4A. Unresolved Staff Comments 29 Item 5. Operating and Financial Review and Prospects 29 Item 6. Directors, Senior Management and Employees 41 Item 7. Major Shareholders and Related Party Transactions 60 Item 8. Financial Information 61 Item 9. The Offer and Listing 62 Item 10. Additional Information 63 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 73 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 75 Part II Item 13. Defaults, Dividend Arrearages and Delinquencies 75 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 75 Item 15.

Controls and Procedures

Controls and Procedures 75 Item 16. Reserved 77 Item 16A. Audit committee financial expert 77 Item 16B. Code of Ethics 77 Item 16C. Principal Accounting Fees and Services 78 Item 16D. Exemptions from the Listing Standards for Audit Committees 78 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 78 Item 16F. Change in Registrant's Certifying Accountant 78 Item 16G. Corporate Governance 78 Item 16H. Mine Safety Disclosure 78 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 79 Item 16J. Insider Trading Policies 79 Item 16K. Cybersecurity 79 PART III Item 17.

Financial Statements

Financial Statements 80 Item 18.

Financial Statements

Financial Statements 80 Item 19. Exhibits 80 INTRODUCTION POET Technologies Inc. is organized under the Business Corporations Act (Ontario). In this Annual Report, the "Company", "we", "our", "POET" and "us" refer to POET Technologies Inc. and its subsidiaries (unless the context otherwise requires). We refer you to the documents attached as exhibits hereto for more complete information than may be contained in this Annual Report. Our principal Canadian corporate offices are located at Suite 1107, 120 Eglinton Avenue East, Toronto, Ontario M4P 1E2, Canada. Our U.S office is located at 1605 N. Cedar Crest Boulevard, Allentown, PA, 18104. Our telephone number in Toronto is (416) 368-9411. We file reports and other information with the Securities and Exchange Commission ("SEC") located at 100 F Street NE, Washington, D.C. 20549. You may obtain copies of our filings with the SEC by accessing their website located at www.sec.gov. We also file reports under Canadian regulatory requirements on SEDAR; you may access our reports filed on SEDAR by accessing the website www.sedar.com. This Annual Report (including the consolidated audited financial statements for the years ended December 31, 2023, 2022 and 2021 attached thereto, together with the auditors' report thereon), and the exhibits thereto shall be deemed to be incorporated by reference as exhibits to the Registration Statement of the Company on Form F- 10, as amended (File No. 333-227873), and to be a part thereof from the date on which this report was filed, to the extent not superseded by documents or reports subsequently filed or furnished. Page 1

Business

Business of POET Technologies Inc. POET designs, develops, manufactures and sells integrated opto-electronic solutions for data communications, telecommunications and artificial intelligence markets. POET has developed and is marketing its proprietary POET Optical Interposer TM, a novel platform that allows the seamless integration of electronic and photonic devices onto a single chip using advanced wafer-level semiconductor manufacturing techniques. The semiconductor industry has adopted the term "Wafer-Level Chip-Scale Packaging" (or "WLCSP") to describe similar approaches within the semiconductor industry. POET's Optical Interposer eliminates costly components and labor-intensive assembly, alignment, and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the POET Optical Interposer brings value to devices or systems that integrate electronics and photonics, including high-growth areas of communications and computing, such as high-speed networking for cloud service providers and data centers, 5G networks, machine-to-machine communication, sometimes referred to as the "Internet of Things" (IoT), self-contained "edge" computing applications, such as accelerators for Artificial Intelligence – Machine Learning (AI-ML) systems and sensing applications, such as LIDAR systems for autonomous vehicles and point-of-use health care products. On October 21, 2020, the Company signed a Joint Venture Agreement ("JVA") establishing a joint venture company (the "JV"), Super Photonics Integrated Circuit Xiamen Co., Ltd ("SPX") with Xiamen Sanan Integrated Circuit Co. Ltd. ("Sanan IC") whose purpose is to assemble, test, package and sell cost-effective, high-performance optical engines based on POET's proprietary Optical Interposer platform technology. SPX'S capitalization will consist of a combination of committed cash, capital equipment and intellectual property from Sanan IC and intellectual property and know-how fro

View Full Filing

View this 20-F filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.