This is now the second time there has been a delay in the launch...

This is now the second time there has been a delay in the launch of this product. Whilst this dealay is outside the control of the company , the company directors & CEO do need to have a Plan B.
The Company claims to be significantly undervalued (don't all companies make this claim) yet it is further moving towards penny dreadful status.
Why wouldn't directors do the following:
1. Use some of the extra R & D funds reimbursed to support the stock by doing a share buyback at current prices. This benefits all shareholders by reducing the amount of stock on issue. Using say $1.5m on a prudent share buyback would send a clear mesage to all potential insto investors the stock is undervalued.
2. Rather than rely on the current Siemens joint venture generating revenue, move to advance some of their own products at a far faster rate. The sale of their own products based on this IP Platform would in the long run generate far greater margins than the current royalty arrangements with the current 2 majors. It would also make the company a more attractive takeover target because of its extra stream of revenue.
Undoubtedly directors & management are shocked by how the market is currently treating UBI after the instos dumped earlier this year, but it is now up to the board & the CEO to have a Plan B that is not dependant on the majors. In hindsight we can now see the instos dumped out of frustration with the speed the company was moving forward. 12 months ago the company talked delays & a launch 3rd quarter this year yet again delays, the instos finally gave up & moved on.
Siemens are a huge company & obviously want to get this product right but obviously don't place the same priority on this delay given its size & it could be months before the problem is finally sorted. We have just wasted 12 months on another delay & paid interest on this delay, while we should have been fast tracking our own products for the market.
It is very hard to market a company with borrowed funds & showing a cash burn rate still. I know we need to have these extra funds for product development but we are paying high interest charges for the use of these funds.
A share buyback & the fast tracking of a new product of their own may at least attract some insto interest in the stock.
If action is not taken shareholder wealth will continue to fall.
Actions speak louder than words.
Regards
Buffett