Investor slams $INV leadership over alleged mismanagement and self-dealing.
Key allegations:
• Delayed Accelsius fundraising by 90 days due to control disputes, potentially reducing valuation
• Overhead remains bloated despite cutting headcount from 40 to 15; consulting fees and jet expenses continue
• Company locked into dilutive WTI loan terms that could trigger 10M+ warrants at $0.30
• Plans to sell Accelsius shares in upcoming Series C to fund operations
• AeroFlex sale expected to fetch far less than the $200-300M management pitched to investors
Author argues the structure was designed to benefit insiders from day one, with 100% balance sheet funding of related entities. Calls situation a "self-inflicted gunshot wound."
Key allegations:
• Delayed Accelsius fundraising by 90 days due to control disputes, potentially reducing valuation
• Overhead remains bloated despite cutting headcount from 40 to 15; consulting fees and jet expenses continue
• Company locked into dilutive WTI loan terms that could trigger 10M+ warrants at $0.30
• Plans to sell Accelsius shares in upcoming Series C to fund operations
• AeroFlex sale expected to fetch far less than the $200-300M management pitched to investors
Author argues the structure was designed to benefit insiders from day one, with 100% balance sheet funding of related entities. Calls situation a "self-inflicted gunshot wound."