iirc, Mark said (in writing) that he saw no need to RS.
the TA was gagged during that period, and we learned later that Mark had quietly bloated the OS to 11b (yes, 11b), and was still insisting no need to RS after the 11b phase.
how can you not RS an 11b company that has no revenues?
either Mark was completely delusional or outright lying.
neither scenario instills credibility or confidence.
and given the gagged TA, the latter seems more likely.
we can don rosy glasses and believe Mark has changed his ways, learned from the past, will now have revenue from WS sale, or even simply is afraid the SEC will shut him down for RS'ing twice in two years.
but all those are optimistic theories that fly in the face of the empirical evidence.
at this point, Mark needs to deliver for me to believe him.
and he'll be hard-pressed to convince me that he doesn't plan to RS whenever the OS is over 1b, as it is now.
as the saying goes, "fool me twice, shame on me..."
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