" I believe he did the dilution because he knows orders (revenues) are coming,"
That's an interesting theory and one that can't be dismissed. But, when does "are coming" end: this quarter, next quarter, next year?
They also need enough of the orders to sustain the company. They need at least 3 of the insurance company size deals a quarter just to prevent more dilution. Given they supposedly had dozens of pilots and hundreds of prospects and none of them have closed yet with significant revenue, that means their close percentage is terrible.
Using those facts, if they are able to close 10% of their deals for significant value (so far that percentage is actually 0% for the VSC product), they need 30 large prospects ready to close each and every quarter. Mr. Solms has working in large sales organizations where they teach and use funnel math. He knows these numbers.
The turnover in the sales force shows they don't have the numbers, otherwise sales reps hired by Mr. Solms wouldn't be leaving.
Unlike the previous ceo, I don't believe Mr. Solms is willing to sit back and just milk the shareholders for his "salary." He wants to win. That isn't always possible and like the sales reps, if you can't make money, you leave.
But, your theory cannot be discounted and neither can mine regarding the thoughts of selling the company. The price the company would bring would be based mostly on the SafeEnd revenue which is all they appear to be selling.
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