AVH Chart, page-8

This company’s history of cash burn and capital raises of $50m each year for the past few years is one reason why the company is where it is now.

I’ve heard the same thing before, about the big cash position, many even claimed that it was fully funded for its growth plans and did not need more capital, only to be whacked with a capital raising and then another one after that.

Yes it has a cash pile, but don’t underestimate Mike’s capacity to burn through it. Big egos, I mean, big plans need big money. Need to spend big to make money etc etc.