Duke, I'm a corporate banker and actually helped take a company public (an 'IPO') when I worked in a private equity company right out of college. So, yes, I know how 'starting up a corp works' LOL Your problem is that you obviously don't.
Founders of companies that go public typically end up with around 15-20% of the firm's equity. (Go find out how much of Bill Gates owns of Microsoft.) Early-stage VC investors get a slightly bigger chunk, and the remaining is floated to the public. 53% is an astoundingly massive chunk for founding managers to retain. What's worse is that he only disclosed it recently. You realize this company has been public for years, don't you?
You're seeing the market react to all this: it doesn't like it. Olsen has been massively diluting his shareholders in order to maintain 53% ownership in a venture he controls 100% of anyway. And you'll have to back up your contention that he 'put in a very large sum of money'. He also said the company was 'fully funded' - only to disclose later that it was not. So where's your proof?
As for me 'talking down the company', I'm probably scaring you. Don't get scared. I'm a QBID investors, just not a pumper. I think this venture has tremendous economic potential and I'm vigilant in seeing that the minority-shareholders enjoy their share of any economic gain commensurate with the economic risks we've faced. Management shareholder interests aren't always perfectly aligned with outside shareholders. QBID is a textbook example.
So... you were saying?
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