You want to spin everything to make it fit your narrative.
The company has never had any cash, new shares are not being issued nor is he taking on convertibles, and sales from FE are just ramping up. So how do you propose he keep the doors open so he can save your bacon if you are truly invested here?
So yes, I think he is doing what is best for stockholders and that is risking his own money with no assurance that this will succeed. He is doing what is best for you (not that you deserve it). And the company should pay him back every cent he sunk into it, IMO.
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