electroCore, Inc. (ECOR)

[Polyphemus]

After the Sept raise, ECOR has sufficient cash for another 10-11 quarters of flailing performance. Sufficient for management, but not for outside shareholders.

ECOR needs a different product-market strategy. The head ache business is not a successful business for ECOR, as 3 different management teams have so clearly demonstrated. Business/revenue model for head ache market suffers from founders' fundamental miscues, though improvement on this issue isn't sufficient for a winning company. A different market and different intended use is required.

If management persists in pursuing a losing strategy and hopes for a different result, outside investors will be the big losers. We need a letter before year-end from Dan Goldberger, telling us what he intends to do.

Board, are you listening?