How could fc and his management team not now that the first report would be imcomplete, if so why?
Please state your opnions here so we all can learn better how corporate managemets operate.
From what discussions I've had or read on the Board and with fellow investors it seems any of the scenarios could be a potential response:
1. Poor decision by management to release the report
Argument: Management had to release the report because it was approved by PG
2. Tactic by management to buy more time in regard to a buyout, prove up resources etc
Argument: too much of a gamble and repercussions to these actions
3. PG is old school and completed the report how he seen fit to do so. Old software, bad history with BCSC, and the theory that you can't teach and old dog new tricks.
Argument: PG has 45 years experience and knows what he is doing, history with a similar situation involving rubicon so he should have learned from his mistakes.
4. Total scam by management to fabricate numbers
Argument: unlikely considering recent events: FC using personal funds, work continues, company remains upbeat, several news releases to show a positive movement forward, loan etc, etc.