Ok just got a message back from Scott and the gist of his message was such.
The consumer business needed funds to move things forward quickly and cash flow problems created by the wireless division were holding the consumer optics up.
Rather than going to the market they decided the best thing was to get private funding and relenquish part of that division. 40% of a substantial business rather than 100% of a smaller enterprise. He did point out that the investment size was considerable and indicated the potential of the business, which I can see somewhat.
Apparently the market in China is becoming more difficult at the moment and hence the JV is developing more slowly than they would have liked.
I think they were right in looking for venture capital if they really need the money to make significant progress. The market cerainly wouldnt have offered them any.
All I can say is they better make some huge pushes with this capital and fast to make it worth while and in our best interests.
I would also like to see some pushes being made in the wireless domain and some good news on the AR.
