Could it be that the management actually gave us a strong clue...

Could it be that the management actually gave us a strong clue about a likely outcome and only those who were smart enough to heed the warning (I was not one of them) have survived.

From the investor presentation Jan/Feb stragety update -
"The VitroGro® ECM application is thorough and meticulous but this does not guarantee that CE Mark will be granted imminently and contingency planning and risk mitigation for further potential delays are prudent. The appropriate risk mitigation strategy is to uncouple approvals and sales in the rest of the world from the EU CE Mark process."

The action of uncoupling of the Ce Mark from the FDA trials application spelt it out - but I'd waiting so long I just wasn't listening, nor I suspect were a lot of others.