Li did not make a mistake. Unlike us, guys like Li do not buy on a whim. They hire big guns to perform real DD and pay a room full of accountants to value the business at the time of purchase and to project its value going forward into the future.
Buying a $.25 stock at an average pps $.15 is pretty slick in my book. In any case, it is very likely that there would no longer be a LQMT by now if Li did not invest $64 million in the company. The old Board of Directors didn't approve the deal with Li because they liked his smile. They needed his cash to stay afloat, and they needed his expertise and contacts if LQMT was to have any real chance of success.
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