If I still had shares, I would have written them off as a bad investment and walked away.
Your 'loser either way' comment is spot on.
Freedom Motors can bring in new faces with impressive resumes all they want, but the core management style remains the same as it did with Moller International. And look how that turned out. Remember all those impressive resumes from the 'Thorntail' guys? Remember how the fanboys looked at those resumes and said 'this time is different'. Remember? Remember when Ed de Reyes was appointed to be the company test pilot and also liaison with the FAA? Remember? Remember how the fanboys said 'this time is different'?
Resumes mean nothing if the man really holding the steering wheel is heading straight for a brick wall.
In the end Freedom Motors will fail and they will blame 'lack of funding' for their downfall just like Moller did now with the latest newsletter regarding Moller International. Anybody with a brain (unlike fanboys) that does a thorough root cause analysis will see that 'lack of funding' isn't the root cause for Moller International's downfall. The root cause is Paul Moller and his questionable business practices. Not only in obtaining funding, but also utilizing funds.
I stand by my belief that if Moller had chosen one vehicle to bring to market things would have been different. Maybe not successful, but different. Constantly switching tracks on which vehicle you want to develop while you have no income stream is suicide. Business Management 101 stuff.
Moller is a tinkerer and he used investors money like he would have used a grant in his academia days. He used those investments to tinker and when the money ran out, the money ran out.
Fanboys shouldn't fool themselves into thinking that just because Freedom Motors has a CEO called Dr Paluru (or whoever he is) that Paul Moller isn't calling the shots. Of course he is.
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