If it is true that TM is toxic to institutional money, which is not hard to believe, he should go. If he wasn't before, he may be now!

I would not mess with Suresh's leadership positions, but a BOD seat with a good finance person is also a good idea. 

Finish this round of financing, don't look panicked over the stock price or direction of the company, and go full speed ahead with better investor relations is the prescription. 

This company hopes to establish itself as the leader in a revolutionary way to move light around. Its vision has to be technologically focused with high respect for the people steering the tech into becoming the de facto standard.

As far as pay cuts for management, just no. That is no way to attract the talent that will be needed to grow the company. 

I would like to see buy-in to this fundraising by the BOD. It's a bit dicey after this crash, but if they buy modest shares, as mentioned earlier, I think we would all be happy to see it.