Sorry that I didn't reply to your msg as I didn't think about it addressed to me because I didn't see my name. :p
Although I agree on your opinions about no major ups until a good PR or a successful launch. I'd be VERY worried if they're indeed selling shares to pay for the "everyday living" that you've mentioned. I think they should have had all expenses planned out long before, rather then by selling their shares to raise cash.
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