Do feel a bit like every other poor fool that has come across...

Do feel a bit like every other poor fool that has come across this company and sees promise given the revenues involved, customers, and opportunities in what should be an expanding global market. At least from a much lower entry, even with recent dilution considered. Must be painful.

Has previous management really performed just that badly?

This R&D spend they mention is due to start bearing some fruit.

The chart does look to be showing signs of flattening out. It seems like they are in all the right spots, and everything is about as bad as it could get, some postive news could really light a spark. And if the exec team can start to turn things around and move closer to a profit, would be very undervalued at current market cap.