Quoted from absocountry2:Who says he needs more money? See, my last post.
He needs the money! (there, I said it!) Hasn't taken in significant new money in a year or two now, product development timeline blown to hell (yet expenses keep on coming), hitting the most expensive part of the process - funding all the components in the 1,000 he's on the hook for (with no new revenues until he gets those out).
It's a safe bet he needs the money... If you want to lose sleep, using a larger second round of investors to "make good" on a too-great deal to a smaller first round group is a scary business model to me (there are even some words for that scheme which I won't use). I hope you all wait for the WOZ goods before you pull this trigger on this...