That hit the nail on the head.
The technology vision is a wonderful thing.
But he's also created the perfect storm around the company's ability to survive.
No one looking at this will not see that large scale dilution isn't almost inevitable given the weakness of Wave's stock. The performance data contributes to the decline in value. So the stock is sucked down further, making more dilution necessary.
This is, in my view, very, very poor management.