I really think that this is the best way to move the company forward. You don't get the dedication necessarily but you also don't have to worry about feeding families. This approach allows the team to work for equity only and conserves cash.
I don't get the sense that even after the deal that there is a ton of cash laying around. Yes, the wells will produce income but they came with 3M in debt that will lay claim to the revenue stream. How much cash flow will be available to support the software development side of the business is unknown. I didn't see an income or cash flow statement on the O&G business that was merged with EXBX. It could even be a net cash consumer if the debt burden exceeds the revenue stream.
It is nice to want a full staff of programmers busily programming away and developing and supporting products but you need funding to pay them. If they don't think differently about the business then perhaps they are doomed to repeat their mistakes.
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