Player: I do not equate Solms with S Sprague either. My point was only, after stating he wanted to be held accountable, he made a series of announced goals--none of which were hit.
Furthermore, explanations were not forthcoming, other than "I was a bit too optimistic..."
As you stated, results under Solms and Sprague are similar.
I also pointed out the similarities between Solms's calls and those of the late, deposed Steven. Both predicted CFBE. Both predicted a full pipeline, in Steven's case the pipeline was imaginary.
In Solms's case, evidence of such a pipeline and a line of interested companies, has not yet surfaced.
I do not think Solms lies the way Steven did. On the other hand, despite a ton of good will from shareholders for cleaning up Wave in many ways, the old problem of lack of sales still haunts and threatens. Also, the dilution continues unabated under Solms--even after he said he didn't think Wave needed additional funding.
I look at the results of Solms's 16-month tenure as CEO, and see no progress whatsoever, in fact, I detect a decline.
Like you, I watch the cash--to keep an eye on future fundings and the subsequent and resultant dip in SP.
Wave in toto, does not look like a good investment currently and IMO, looks worse as an investment than it did when Solms first took over.
To me, the big issue is the lack of announced sales for the Wave Virtual Smart Card 2.0. The longer Wave goes without a sale of the VSC 2.0, the less likely Wave is to prosper. If Wave can not sell the VSC 2.0, what can it sell?
Answer: Wave has one sale of its old technology for $2.3M spread over 3 years. No announced sales of its newest and re-jiggered product. That spells big trouble to me. New sales team, new focus, new intensity, etc.--same results.
Given all the breaches, one wonders why Wave can not sell security products. I have a theory--it's the product no one wants.
Thank you for your reply.
Blue
