Too many to count.
Some of the main problems are the lack of management's experience in the field and the culture.
Nobody among the top management has ever developed a product and they have no idea what it takes to make something stick. The head guy has some lofty goals for the company ('We will be #1 in the world in two years, we will beat much larger competition that is years ahead of us etc.'.), but when you ask how we will get there, he provides only empty phrases and says things like 'We need to be results oriented,' or 'We have to work together.'
The culture is absolutely toxic, nobody is empowered to make a single decision, extreme micromanagement, no direction and constant turnover.
Stay away.