That's the pessimistic way of looking at it given that none of us know what is going on, but you have to consider these financials must be accurate and they are being audited by several parties and there may be many factors that are entirely out of Jimmy's control, such as waiting on other people. Yes, incompetence and all that but I believe all the incompetence was in the past, things he should have done or done differently, all in the past. Odds are he's doing everything he can at THIS point in time, and all that really matters is what happens now and in the future.
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