Correction to Raymond James Update In it they state:
"5. No creditable firm would share un-audited/preliminary forecast to the public or board of directors".
That is utter and complete nonsense. That implies that the auditors, and ONLY the auditors, are capable of capturing and compiling reliable data on which to make decisions.
How many BOD meetings were there per year? What did they do at those meetings? My guess is that they DISCUSSED the buildout of Boleo and, USED the DATA provided by MANAGEMENT.
Were the costs of the project UNDERSTATED because of INCOMPETENCE or was it UNDERSTATED because they wanted to INTENTIONALLY MISLEAD the board?
Does it really matter? Either way, we find ourselves in this position.
JG would be responsible in either event. I give him 6 more days until launch.