Don't consider selling before profitability, page-278

They would probably need to start by laying off 60% of the sales staff they just hired. Comes with it's own costs. Hiring some VAC process specialists or possibly an outside firm. Putting on hold any current extraneous projects not crucial to their core business. Basically slowing down this rocket ship currently headed to galaxies unknown.
The worst thing that happened last year was the expanded label from the FDA. JC obviously gets distracted by shiny objects. Had he stuck with the original plan for burns and trauma and saved the rest for after they become CFP this could have worked.
And they better get GO approval since production retooling money is already spent. Emphasizing the importance of something you don't have in hand has been another huge mistake. What they have works very well in a surgical suite.
I've been concerned since I first went through his resume. He made a serious error at eV3 that cost him his job and shareholders a pile of money. It was the kind of error that does sometimes happen no matter how good the due diligence so I was willing to give him the benefit of doubt. But more often it comes from lack of due diligence and the desire to do big things. With other peoples money. Lot of those guys out there.
There's no way to put a smiley face on this report. He has screwed up the business end of this so badly it will be hard to recover. More debt coming. An equity raise at this point would be highly dilutive. 25% revenue miss and a 50+% EPS miss coming. Oy.
If I'm a responsible board member I am looking around for a buyer. That's how bad this is. What a shame.

I would have one question for JC that would tell me everything I need to know.
How many of the original 30 salesmen are still with the company?
I won't get to ask and I wouldn't trust the answer.