Growth company with new product launches every few quarters. You cannot look at 1 quarter and try and extrapolate a trend from that because of all of the noise in those quarters.
Instead fill in the blanks: 2012 Annual Sales $_____ 2013 Annual Sales $_____ 2014 Annual Sales $_____
I assume you don;t want to fill in the above blanks though because they don;t fit into your bashing story.
Why are you even trying to argue about the revenue growth story? If I wanted to convince everyone that this company was terrible I would talk about expenses. Expenses are what they can't seem to get under control.
Also, they did not default on any debt. They breached ac covenant and were given a waiver. BIG difference.