Lindsay backed himself into a corner due to the company...

Lindsay backed himself into a corner due to the company literally being days away from totally running out of funds. When the partnership deal failed to materialise, he had zero bargaining power and needed to give the placement managers an extremely sweet deal (because the alternative was immediate insolvency). The deal falling over was possibly not his fault, but his risk management decisions in the last several months were terrible and have cost retail shareholders dearly. I can understand some holders would prefer to see the silver lining on these clouds, but this remains an accurate description of recent events, regardless.