I have to ask, if they went this hard and we are only this far into the commercialization process, where would we have been by now if they had not recruited so heavily?
I imagine we wouldnt have FDA approval yet, if even a marketable product with enough differentiation from the rest of the market. Let's assume that when we were $1 equivalent we just cruised for another 5 years on minimal expenditure and barely any revenue from the old excel device, would we be any better off? What market cap would we have vs what further dilution and at what price? I would welcome an exercise in it from someone else, i feel like alot of people post opinions on here but rarely back them with scrutiny.
The biggest waste of money was NASDAQ, but in my opinion they more than recouped those losses by getting the full payout from the cancelled CT. As far as money spent on research, development and trial staff costs or manufacturing costs, one has to assume that it has been through vigorous business modelling to continue to receive the support of the 2 directors who have paid more than their salaries for a stake in a company with $78m in losses.
Do the maths.
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