I believe we are very close to the end. I don't think Wave will see the New Year.
Voting for the reverse split as the "strong hands" have been advised to do, means prolonging paychecks for a particular clueless, tone deaf mgt & BoD, while prolonging the agony and increasing the loss for shareholders.
If shareholders had voted down the first 3-1 reverse split in 2006 and the company had gone out of business, hundreds of thousands of shareholder dollars would have been saved.
Nearly 10 years later, look at where we are--farther down than I could have possibly imagined ten years ago. In violation of two Naz listing minimums and on extension for one; delisting is an issue; but worst of all is the monster due on Xmas Eve: the bridge loan plus 107% interest--comes to more than a half million Wave doesn't have and is unlikely to get.
Late in filings, embarrassingly so, Q3 CC scheduled, postponed and finally disappeared. Wasn't bad enough they caught a math error a couple years back just minutes before the CC and they had to cancel it.
There have been so many displays of not only stupidity by Wave mgt (so many examples) but the failed DD on the Safend deal was right up there--that and overpaying the CEO a cool $70K. Thank God an outside auditor was awake.
I guess the Wave CEO didn't notice an extra 70Gs in his paycheck and the CFO didn't notice a missing $70,000--until it was pointed out to him by the auditor.
The entire time, Wave has resorted to stunts, rather than solid performance. Take the Papa Gino "win". CricketCricket was a well-known Wave true believer, shareholder and evangelist for the company.
C2 also holds a position at Papa G's regional pizza chain--Director of Networks and Information. C2 told the world he had searched all over for security and Wave had been chosen to secure a handful of Papa G's 1600 fleet of lappies.
Big news, until it broke C2 was who he was. [He denied it], but supporters posted "congratulations Chris" on other boards at the time. Those posts were later removed to conceal Chris's undeclared interest in Wave as a shareholder and to remove evidence of it.
So many shady deals like that characterized Wave and were defended by its supporters as if Wave wasn't selling "Trust." Integrity matters to most companies. Ironically, Wave could not be trusted--certainly not by its shareholders.
It has been a long and sordid ordeal and there were those who went out of their way to deny and lie that what was happening, was not happening, to invent excuses and reasons why Wave continually never met any of its own deadlines and forecasts.
Strange, the leaders of the supporters were never once right about Wave--but they called the critics who were almost always right, "bashers."
Despite an unbroken record of calling it wrong, there are some supporters who still listen to these 'leaders' and follow their suggestions, which to date, have only brought them ruin.
Even today, it seems some people still think Wave is going to pay off.
Good luck on that one and to the folks buying shares in the teens.
There's a good reason why the share price is where it is, and it is not good news.
Blue
