There are many who try a defend management, inexperience etc... Who remind us that it takes time to drill etc...

All these are true, what it comes down to, the hype surrounding the company was that we would have something on paper quickly, management never did anything to dissipate this hype (with something as simple as including a line in a NR that they expected a compliant resource in early 2012 for example).

With 20/20 hindsight, management hired this guy to build hype, and it backfired, you need to build hype up to something (for example apple is great at doing this before a product launch), you don’t build hype to something that will happen in a few years.

Overall I think management did a horrible job managing expectations, now their reputation is way down (amongst small retail buyers here on agoracom anyways)