docgfd,
That is true, there is alwys the exscape clause.
Standard procedure!
.
Often times investors may do DD and do it carefully, read all the information but do not really get a feel of management! Most investors and I mean those that take it seriously should try to take the opportunity to meet and be able to assess management. I know it is not possible for all but paricularily in startups I find it very helpful!
Now each of us has a particular trait we look for and are able to make observations and judgement based on that criteria as part of understanding what management is trying to achieve and or is all about. Is there a realistic chance of success as an example?
Why do I feel comfortable? I have been to Phoenix numerous times have met with management sometimes unnannouced, talked to them and the empoyees as well! Have seen the development of the technology and see the progress. I see the dedication in their eyes and the way they work to get things done. I came away not always happy, but knowing that all of them have as much or more to loose than we do as investors
It is their future as well .Their company as well as ours!
I know how disappointed they were as well as management when the previous attempt of becoming fully reporting failed because counsel felt it was premature.
Yet I saw the determination and urgency in their approach and work ethic to see this thing finally get finished and we become One company fully reporting and moving forward to bring us all the success we are after!
