David Rosenthal: uncertainty

Transcript context

…We all should say, this is a tremendously dilutive financing event. This is Qualcomm saying, we need money so badly to fund the development of Omnitracs for this customer, OmniNet, that the most attractive option for us is to sell half the equity in our company. Everyone gets diluted 50% by merging with the customer themselves in order to get just a few million dollars to continue funding this effort. It's a pretty different time than today where you go raise a seed round and you sell 5%, 10%, 20% of your business for... I don't know too many seed rounds that are happening for 5% dilution these days, but they were. They were. It's crazy to think the position that they were in, where everyone was looking at Irwin and he was like, hey, I think this is literally the best path forward in order for us to get the few million dollars we need.…

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