Ann: Final Director's Interest Notice - Walley, page-18

Too many entreprenuers think that investors lack any memory. One of the first questions I will ask any company raising money is to show me the documents that was used to raise the last funds.

I want to see what they said they would do (not just forecasts) and what they actually did, and then to understand why they missed. There are often good reasons for missing, but if they do not understand those then they have learned very little. And the blame game is not a good look.

BTW Invert Robotics is not the worst example. It all comes down to credibility of management, and owning up to mistakes is a critical part of that in my view.