I've had PM's from some who conversed with Cruz. There is a very good chance that he was trying to control Calkin and Jones more often than they could tolerate. I envision the phrase "hey it's my money riding on this venture" coming out of Cruz more than once!
How does a CEO operate when the funding is coming from a person they are suppose to be managing? CEO's and CFO's can operate on the same terms but IMO the CEO should have the final say. In this case I think Cruz used his leverage and funding to his and shareholders disadvantage. if he has told shareholders "I've lost much money" then IMO that is unprofessional and rings "crybaby"!
What he should be saying is "I lost myself a lot of money from stupid decision making or by not allowing the experts to make the correct decisions for me". Who knows but I hope lessons have been learned.