Its obvious to me why funding has failed- management greed,( and a healthy dose of Ego..) Presumably they've been offered decent funding amounts in the past, but that would come with the proviso that a large % of ownership gets handed over..and that clearly does not sit well with the greedy owners and stupid "management team" of this company. They've preferred to drip out the stock via worthless options and stock in a feeble attempt to maintain control of the company. In effect, they've decided that its better to keep 90% of $zero than 50% of $XXX. So we all lose. They will run the company into the ground, and bypass the opportunity to move it into the real world via proper funding. Sadly, if they wrote a movie script about the history of SMME, it would not be the comedy we've all witnessed, but a tragedy/drama that everyone would think was too crazy and fictional to be true.
Surely the many minor shareholders would prefer the management do the right thing, ie relinquish a good chunk of their ownership and move the product forward.. but no doubt our desire for common sense to prevail is falling on deaf ears.
I Actually feel sad and sorry for any shareholder who clings to the belief that one day we will get a positive, real announcement. Once you mentally write these shares off, you feel a whole lot better...
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