What are the desperate times?
From what I heard and saw at the ASM, they are going through the process necessary for success. Yes, the share price sucks, but the company is proceeding along the path toward significant revenue. When the revenue starts, it will grow quickly to significant amounts. They are putting together a process to produce millions of 200g modulators by using multiple foundries. At the same time they are developing an 800g PIC chip. Somewhere out there I believe there are multiple transceiver companies developing transceivers with Lightwave modulators.
I guess it can be desperate times if you put money into Lightwave you could not afford. If you are an investor and not a trader, these are definitely not desperate times.
I say more like exciting times! IMO