Steve No doubt they are confidence in approval (and so do I, over 90%) But arrogance is the wrong message to the market, so some don't see any reason to rush in and buy, if they can get it at the same price after the approval.
I know that we are both have about the same target price (~6 in Q3 2014), but if Paul won't address fund and shareholders concerns he might have a hard time to get them to buy.
A good management is not just business plan, but also personality and trust building. I hope Paul can do that (I'll trust him on the business plan)