Not closely because their cash burn rate is very low. Getting talent that can create something with the material has obviously been an issue, and they push the reset button a bit every time they let someone new take control.
I don't look it like if Bintz and Mickelson couldn't do it than Lebby can't. I think Mickelson actually did what he was supposed to do successfully, figure out how to get thin film coatings applied at some ultra low micron level. The LSS was only willing to test so many coupons before cutting the cord.
Having been pretty critical of Lightwave for a long time I might have a different perspective because I was at the meeting and was able to speak with Lebby at length over dinner later on. He is taking a personal interest in Lightwave and will be speaking at presentations/shows for them, writing press releases himself, as well as building a working device on a timeline that he created. Part of the reason I like him so much is because he was the Director of Business Development for Intel Capital (Intel's Venture Capital arm). He was the only person with a science background on his team. I think he gets both sides of this business more than anyone could (especially Tom and Jim) and he knows what attracts a company like Intel.
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