I Want To Believe, page-448

@sinic

I can tell you why I (currently) support the management team.

They have tried and failed to do Casinos on their own so they are going through an OEM who knows the business and has a product they can add significant value to. So they have proven they can learn from mistakes (and political hurdles) in rolling out a new product and seem to be able move on to paths that are far more likely to serve the company well into the future. They are now almost purely focussing on OEM engagements and have VMS providers very interested by all accounts.

In my opinion Louis has done his best to keep us informed and tries to look forward a bit but obviously that can backfire. As I've stated not impressed with share allocation which I ratified (even if it's the boards idea originally) with no result yet for shareholders. If it is purely to keep Louis I'm ok with that even though as a shareholder I feel more than a bit out of the loop as to the exact circumstances behind that bump in remuneration. I'm not thrilled with the low share price but to me it's far from the end of the world - if I did have some funds I'd be buying as we speak - well before 4pm anyhow. The more consistent the buying the higher the share price and the less dilution if they happen to require a CR which is not out of the question but far from a certainty. Lets make new holders pay for the privilege.

They have raised a great deal of capital in a timely manner for the purposes of building a company (learned from the undersubscribed retail offer and so probably did well to get funding at all) and furthering the completion of Akida as a widely useable product. I won't say I've been thrilled with the discounts on raises to instos but compromise is necessary for a startup with little to no meaningful revenue (yet). They have laid the foundation for successful business relationships involving Akida in it's various forms and it's IP. They have as far as we know a robust R&D section producing regular patents/additions which is the foundation of the company. CTO (Peter) is part of management and he and the board had the foresight to get Louis on board.

I have also met the board and Peter and they seem ok to me but that is my impression only. Yes you can call me a Louis apologist and a happy clapper all you want but I think Louis has done an excellent job under very difficult circumstances and his job is to be on the sharp end of shareholder dissatisfaction a position no matter how well paid for risk management is fraught with immense stress and events largely beyond his control and I don't envy him the job. So far bar the extra shares I think he's negotiated the maze of the business world and shareholder expectation brilliantly. Running a start-up without revenue I'd imagine is largely an exercise in marketing so not an easy or very highly respected undertaking but necessary. Now as has been stated there is proof of commercial life for OEMs and things seem to be moving along - I won't say nicely I'll say to my frustrated satisfaction... how's that for an oxymoron (no that's not a bad welder!).