letter to shareholders, page-46

so these conditions are really no different from having no conditions at all, IMO.

Well they are very different as they have to also make an announcement of a new licensed product to a third party (Bodyguard) whereas previously they were trying to issue them in retrospect ie immediately. If 10c is guaranteed (as you imply) and investors are aggrieved then that 10c mark would be a good price to bail out. I doubt too many would be in the red above 10c (discounting the time factor).

For me the dissatisfaction of investors is absolutely valid but I think the level of dissatisfaction is over the top. Emotions are bad in investing.