Hi MNGA,
Great question. It takes a lot of discipline to stay invested right now. I am not moving a muscle until that licensing deal and commercialization happens. I told myself years ago that I would not begin to sell my shares until two things happened.
1) Uplist to a major exchange (completed last year)
2) First commercial deal signed (will complete in the next six months)
Everyone should have an investment thesis and stick to it until new information voids that thesis. My thesis is still fully intact. So to answer your question, I do not like seeing the share price at this level, but I expect a full rebound in the next six months so I am not fretting in the slightest.
Like I said before, judging an R&D startup just before commercialization is like judging your barber halfway through your haircut. It might look bad in that single snapshot of time, but he's not finished. To use a poker reference, all my chips are on the table until I see the cards. It would be foolish to fold now. We are on the river.
Look at almost any publicly traded disruptive startup just before commercialization. Most of them have stock price decreases and give new investors one last chance to jump in just before product launch. This anomaly is due to many factors. A big one is the fact that management must balance the information flow as to not give away their competitive edge while still providing a satisfactory answer to current shareholders. The need to protect the competitive edge increases as commercialization becomes imminent. You don't want to tip your hand to competition that could possibly stifle the disruption you're about to cause in their market share.
It is clear that Lebby expects competition, customers, and partners (future and present) to read the shareholder letter. If you read through some of the passages, it becomes clear that certain information is meant to signal specific progress to these different parties while keeping other paragraphs targeted towards satisfying shareholder demand for information.
Anyone who jumps in now will think they are the best stock picker in the world by next year. Anyone who bails out now will regret it for the rest of their life by this time next year. The exact moment of groundbreaking news will be impossible to time, so best to stay fully invested over the next year. That's my summary of the situation.
