"No one is happy with the way management has dealt with this, no one."
... a sample won't do in this case - to say this you would need to have surveyed the entire population.
You have surveyed the entire population, haven't you?
"They will need to raise for Ph3 and they can't do it here"
Given the CR history and share price "management", who says they would want to raise here?
and given the last CR was predominately US capital, who says they would need to raise here?
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