Friday, November 22, 2019 11:51:34 AM
How happy do you think Longtai or the private placement group are with their investments to date? They would be much happier if the stock price hit the analysts projections of $6-8/share a couple years ago (and so would all of us). Those were reasonable estimates at the time based on the status of the project. When the money was coming in, the development was progressing per the schedule.
As of late, funding has not been there for them. Period. They were on the verge of doubling (or worse) our share count in order to keep development moving. I'd rather they sell out with 50M O/S than go it alone with 200M O/S because frankly, I'm tapped out. Personally I'm glad they shut down the last round of dilution; it was just too egregious for my tastes.
I'm not saying management has no responsibility for the direction we have gone. Design freeze in April - premature? Minor tweaks like moving the foot pedals, no big deal. But after HFE was completed, they re-spin the insertion tube and much of the contents? That's a BIG WTF in my mind. Letting a contractor go off the rails? Should have been more closely monitoring progress and keeping tighter reins on it; now it's matching lawsuits and a huge delay. But robust funding could have overcome these difficulties, putting more resources at their disposal. And that robust funding would have been much more likely if the share price hadn't been beaten into the ground by negative market influences. So yes, I'm saying share price is a root cause for the current situation. Not the only one, but one of several huge contributing factors.
Message in reply to:
Dude......bro.......I’m not talking about share price....shorts didn’t drive the company bankrupt with no product to sell. Whenever these jag offs needed money it was there for them. Don’t tell me it was shorts that caused this. Are you even being serious or just deflecting?
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