The Bear Room, page-244

Company is a dumpster fire. They did the last raise for all the huge orders they said they had coming. There's no surprises coming, every big order they announce to market and they havent had anything more than a couple of circa $3m new wins.

They've raised $115m-ish in April, bloated their cost base to ramp up manufacturing capacity, got none of the orders they expected to win.
So now to give themselves more runway because Oleg "can't get a loan" they're raising more capital.

To make sure Oleg's options vest, he's going to use this equity to keep the business running while he drop his pants on the pricing on his sales pipeline to secure a few wins before he jumps ship too. Remember, these are attached to REVENUE based KPIs, not PROFIT based. You know how you make revenue quickly? You get a big pipeline (tick) then you raise a ton of money (tick) and then you discount the F out of your product. He's achieved step one on his own. You're about to be paying for 2 and 3 as a shareholder.

If you're still in, you're just a bag holder paying for Oleg to take a free swing at options. This thing is a dumpster fire.