Maybe this was not a bad strategy. So the revenue doubled. How will they now control costs? They will not be able to keep offering secondary to run operations. I would have liked it if they said some pretty favorable things in their call.
They are idiots and do not have much experience on the PR side of running earnings calls. I have no doubt they'll trim sales costs while growing revs but you are right, they did not provide sufficient details on that plan with little embellishment either. Maybe they plan to announce something big post secondary offering to help provide a little pop to help reward the underwriters.