IMO your insistence that the directors buy in the open market to "show some faith" is a red herring. The BOD is not showing any less "faith" by buying convertible preferred versus common. While Mssrs. Kaplan and Destler, for instance, have bought in the open market in the past, as has been noted in recent prior posts, the executives and directors intend to subscribe or have already subscribed in the currently open C-3 offering. Would you pay a higher price in the open market than the C-3 subscription price and give up the preference to boot? I think not. We have been discussing this issue since around Dec. 23, 2015 -- there's nothing more to say IMO. Anyone interested should review the exchange on this board, and judge for themselves.
Regarding "building growth mode", anyone can review the company's communications and other public sources to see there have been developments. For instance, in the December 4, 2015 Rochester Business Journal article entitled "One to watch" we learned the company plans to start pilot studies for the MyCadian. Before anyone starts to whine "Oh no, more studies!" this is common practice in the algorithm space. It is known as machine learning; it prepares the watch to process new data better. But listen to Mr. Kaplan's direct quote in the article:
"The purpose of the clinicals is not to prove it works; we know it works. It's to better calculate our algorithms."
In the article he's said to have stated that the "watch should be ready to ship by May or June", which is consistent with what he said at the June 18, 2015 annual meeting, though according to my notes, he said April or May. April/May or May/June...who's ready to cry delay?
Now the pump. In the same Dec. 4, 2015 RBJ article, it was reported that Kaplan "expects the pump to be finished within the next 90 days." That's March 3rd. However, from the article, this direct quote by Mr. Kaplan should also be noted:
"That is not a promise. That's what it looks like now."
The journalist reported he said that with a smile.
AI
