realistic expectations, page-27

This is the risk of taking managements word at face value.

Unless you are an insider, any "private" comment from management is useless and it is very dangerous to treat it as insight.

"...Last week when I spoke to the company, the IPO was on track. It subsequently went into TH (expected). What wasnt expected was the ensuing delay based on the pervious week's conversation. At a guess - as I havent received a response via phone or email since Monday this week - an unexpected event has occurred. In my opinion, whatever it is, it will be minor....".