Paul, I appreciate your frustration with unmet targets and this current repricing of options.
In the repricing of the 600,000 options , I calculate the the company potentially has a major loss of capital of 600,000 shares($4.97-$1.30, the repricing this year), or 600,000x43.67 = $2,202,000, if my calculations are accurate. Yes, I see this as totally unacceptable and a slight to shareholders who are in at prices far above $1.30.
An objective analysis of the total situation clearly indicates that nothing fundamental has changed with the product, its market or the upside potential of the stock. This current fiasco will have some short term or even intermediate term negative effect on the share price as investors bail out in frustration and disgust. However, if I am correct about the potential of this device, over the longer term, investors will be well rewarded. I am convinced that management, in spite of this recent demonstration of ineptness, has the skills and abilities necessary to take FAST1 successfully to market.
By the way, I have no problems personally with Mike, David or Judy. I believe that each makes a very specific, significant contribution to the leadership team. I have found communicating with Michael and David, the two with whom I have had most contact, to be pretty straightforward.
You have to make up your own mind as to if and when to bail out, but I am staying. You will be missed if you sell.
Best regards and successful decision making,
Ed
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