Some actual interesting discussion going on here. I too am...

Some actual interesting discussion going on here. I too am cynical of the pre-CR pump that was put out there. That said, if I was put into their position of having to raise capital for this Dog I might have done the same. Why? Balancing it out, and if I truly believed the people (most important) and products were great and had a potential future then I sure would have been pressured to put the company in its best light.

Let's assume AHZ has a fighting chance in hell of breaking out of the doldrums at some point. You come on board, clear out the board and are left with a broken company, destruction of shareholder wealth, millions of dollars pissed away over the coarse of 5+ years of piss poor management. But, you (mostly) have good people, a costly manufacturing process, a scientifically provable great product, top notch vax team etc. What do you do? Air all the dirty laundry? If they did that I have little doubt we'd be sitting at 10-15c, if that.

From WP and co's perspective, does it make sense to come on, take control of a bogged down company with terrible financials and ride it into the grave just to take advantage of a nice salary? (As alluded to by some on here?) Perhaps, it could be quite lucrative for a while, but this requires quite an extraordinary level of pig headedness and lack of concern for ones own professional reputation going forward.

This company was completely broken and rotting from the top down. It makes little sense for WP himself to take on this role if he didn't think there was a chance in hell of turning it around.

Not saying there won't be more pain in the short term. I think you should all brace yourselves for the next 4C, I think it'll be "as expected" - as long as your expectations don't involve rocket ships or trips to the moon. But it's unlikely to involve the titanic, either.

Still, I can't argue with the chart. It's obvious all the good will is gone, the share registry needs a cleanup and we're all still just waiting for proof of a turn around.