flaflyersfan, I have to disagree with your assessment. I don't think $10MM could be considered a band aid as it would supply us with plenty of capital to get the company going and would also allow us to eliminate any debt outstanding to roswell and company. or that is one hell of a band aid that contains neosporin and a shot of morphine all wrapped up in one.
A band aid was the last S/1 of $4MM by P.B.'s incompentent decision making ability. That guy had no plan and it pretty much destroyed us.
As far as Larry is concerned, not many posters give him credit for getting us to this point, we were done before he came in. Like Tiger said, regardless of management's abilities, which are near the top with respect to business vision and execution, there will always be unforseen circumstances, especially since we are so dependent on this offering. If Larry came into this with no debt and cash where do you think this company would be? What did PB do?
Our deficits are not really that big relativelly speaking with other companies we just can't get going. I still believe the S/1 will go through and I also beleive that if when we do aquire the capital injection, Larry will make very good use of it. If we were to get anywhere near max utilization these deficits would be gone in a hurry. That being said there is no way to dispose of this debt mountain with out a capital injection.
There is no doubt that offering was a sock to the gut but like others have said, this company has actually been in far worse positions and is still here. It is hard to make any kind of analysis currently because no one knows what is going on with the offering negotiations but I would definitely give some merit to Tiger and CEO's posts regarding what they have stated they believe is going on as it seems they do have experience in this realm.
Cheers
GLTA
