I gues the whole point was that Joel certainly did not need to...

I gues the whole point was that Joel certainly did not need to talk about the company finances in the letter previous to the AGM and then pretty much next day do a cr.

It's just silly and only served to dent the bod reputation no matter how good this cr can be. He could have just deleted that paragraph from the letter and then addressed the money situation after the cr was done.

in chess it would have been a blunder.

Then again, this too will pass and the company is more than set to takeoff when the time is right.