Yes, the share price sucks and management is almost certainly to blame. And it is incumbent on the board to provide an explanation long overdue. I believe there is a high-handedness in its treatment of retail shareholders and a definite lack of candour. Shareholder communication over the years has been nothing better than spin. Perhaps the board is cognizant of potential for litigation due to misleading statements (which include omissions of material facts) to the market. That could explain the silence. However, I opine the recent TAVR announcement, while positive, was mostly spin. Lessons apparently not learnt.
Losing money most likely is especially galling to institutions who have done 'stringent' due diligence. My experience has shown institutions do very little stringent due diligence when investing in penny dreadfuls. Usually, if the management is convincing and likable and the story has no glaring holes, they will take a punt. Small institutional investors, where an investment loss may make a significant difference to the portfolio, as a rule, are more pro-active. So unless they publicise their due diligence efforts, who knows what SIO and SB did? Arguably, it would be no sop to SB and SIO to have to kick in more money at a price fractionally below their previous. (I may be wrong in this but I thought SB stumped up at the CR prior to the last one.) Throwing more money at AHZ may not give the desired result. I am also taking a hiding on my holding but not prepared to average down again at this point. That will depend on the next capital raise price and available information.
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