To be fair, Russ had a start up exit to Yokogawa Electric/honeywell. Made it to a good level within their software division as a president/Vp or something. Same with a lot of these other guys. Sometimes businesses fail not only because of leadership, but because the product or whatever isn't good enough. I don't know enough about his previous businesses. However, you seem to only focus on the negatives. Which is fair to bring up, but to ignore everything else is pretty unfair.
These guys already have a lot of shares and were probably blacked out over the last couple weeks from the annual report, the share issuance news, and Q1 coming up next week. Insider activity isn't everything. The dumping could just be people who bought the latest raise for the warrants and are dumping the shares. There is no way to know. People sell for all kinds of reasons.
I agree that this selling is a little ridiculous, however I've been involved in a number of stock that sold off as if they were going bankrupt, when a simple analysis showed otherwise. It gets to a point where emotion eludes reality and some people are forced to sell because the stock doesn't meet their internal mandates. $1 might as well be $0. I don't see a base case for $1 valuation. Like the only base case that support $1 is essentially zero growth going forward. All the news releases indicate otherwise.
So what do we have to believe for this to be at $1? What is true? I spoke to IR - zero lost customers. So it's not that unless they straight up lied. They have $15-20M in cash now. So they have cash for 2-3 more quarters. Did they have a shitty quarter for growth? Maybe. Will things likely get better in Q2-Q4? Probably with things opening up.
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