If you consider his success at enriching himself and his cohorts at shareholder expense, he is quite smart.
To achieve this, he offers up vague promises to a downtrodden shareholder base eager to latch onto anything in an effort to recover something from year after year of losses. By design, these promises remain unfulfilled. Even though there is no real intention of fulfilling these promises, they remain necessary as potential carrots in order to continue to lure in more outside money.
Despite continued failures to deliver, it will not prevent him from making ever more promises of greatness and riches for shareholders in the future. Trust - it is just over the horizon!
Sadly though, the only things that I see over the immediate horizon - more dilution and yet another A/S raise (and likely R/S again).
