Yep my gut feel was right and I did not exit immediately!
Wasn't overvalued back then... it was fairly valued for its potential and what we knew at th etime and market conditions. But things have changed from my point of view as to how long it has taken to get sales and how slow sales growth has been. Just take a look at their cash burn right now for the last quarter.. how much more growth do we require quarter on quarter to be CF+?
Also cannot stand when they compare results this quarter to previous corresponding quarter.. how stupid for a startup! compare to teh last quaretr... when your business is mature then do on previous corresponding.
I will not be happy with anything less than 150% QoQ for March! Do I think we will get it ... NO... and they need to stop burning cash!
Ann: Appendix 4C, page-14
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