I think you will find that mngmnt has been naive in the extreme;...

I think you will find that mngmnt has been naive in the extreme; they've all lost cash.

The technology is do-able and there is a demonstrable need for the product but engineers and planners working for big concerns can smell a newbie from miles away and are prepered to wait.

If it is privatised than the risk of losing the process to 'mates' may well exist. However present mngmnt appear to lack depth in their strategic planning skills and have had little to offer.

Its a toss up.

The challengers need to do more work and provide a strategic plan that is accountable and convincing, not just a shopping list of vague gripes.