He said #2 and #3 multiple times in response to multiple questioners and one CEO (S) has already commented on the potential of CLWR in their 10-Q so it isn't a new issue.
Would like to agree that the problem is overstated but they put together a really lousy slide-deck and have led the market (stock market and retail customers) to believe one thing when something else was true. Everyone makes mistakes so I don't have anything against them personally in that they are finally owning up to bungling CLWR. I wish they would have been a little more open about the problems but I guess that is business.
I'm a little less willing to forgive the purposely unclear slides dealing with cash flows. I've prepared enough documents like that to recognize a mistake and purposely unclear documents. I'm not prepared to say they have no idea what the IPhone impact will be but that almost appears to be the case given the lack of information they provided. I am prepared to say they have no idea what their cash balances will be.