I think you guys are unreasonably harsh - CDX has already xercised its option to tranche-2 (1-Feb2019), which takes it's holding to over 40%. There is a timing issue from taking up option to actualising it by paying the US$3m in full (and if it was your biz, you'd time this to your best case instead of paying the $3m too early, plus they get board seats).
This is locked and loaded - so either grow up or get out of this stock if you don't like the way its being managed or direction its heading. Trade all the other penny stocks where every announcement is as if you were putting your children on it - although i'd hazard a guess and suggest you've never run or come close to running a public co.
My view is that exercising tranche 2 and 3 are at CDX discretion both in terms of timing and performance - therefore best outcome for us as we're in 100% control.
To those that see the potential and have greater faith - GL.
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