I know the answer is "we're being taken for a ride" but...

I know the answer is "we're being taken for a ride" but seriously, how can a company lose so much money living qtr by qtr and then have the audacity to predict similar outgoings over the next qtr?

Effectively saying:
"we know we've achieved very little over a long period of time, we know that in recent history we have done very little to turn it around, but we're going to keep doing exactly the same thing and hope for the best".

Where's our little optimist Malmanu? Where's his spin on this? I've noticed him turn up on other stocks with his unfounded optimism as well.