One thing I learned a long time ago about CEO's and management in general is that they tend to know a lot less about markets and how companies are perceived than experienced investors. They just don't have the perspective to see the bigger picture. Plus we all know that even experienced investors and professional analysts are frequently wrong in their predictions. And it's not like there's an unlimited amount of money that can be raised at one time. I'm sure the search for money is constant. They get what they can get and then go looking for more.
My biggest criticisms of Wayne have been around setting unrealistic expectations for investors, I heard him say quite a few times that commercialization could happen in 2025, which was ridiculous (he stopped saying that when it became obviously impossible) and for not running a tight enough ship when it comes to spending with things like 2 IR people and the corporate happiness expert or whatever that job title was and executive compensation in general, but he has moved the DurAVR steadily forward and deserves credit for that. And he hasn't run out of cash yet. It's not easy to raise tens of millions of dollars. His natural ability as a promoter is surely an asset when it comes to extracting cash from big money.
No company will ever be run optimally, especially not a cash hungry early-stage company that lacks leverage when doing raises, the question as an investor will always be whether upside is still there, and IMO that's something that should be continually evaluated with the company's successes as well as its frustrations.
AVR Price at posting:
$15.24 Sentiment: Hold Disclosure: Held
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