Wave Systems Corp. (fka WAVXQ)

[jizzlobber_91101]

Hats off to SKS and Solms for keeping this scam running as long as they did. I was long for a couple of weeks during the first dotcom era before I realized the company was nothing more than a personal piggy bank for SKS and his ilk and since then I had been "bashing" the stock on the yahoo boards. Fortunately I only lost a couple thousand trading this but even back then it was fairly obvious that WAVX offered nothing but vaporware, embassy chip anyone?

A glance at the income statement would have revealed that operating expenses were never covered by gross revenues and a perfunctory review of the balance sheet would have shown that current liabilities were almost always greater than current assets. I was constantly amazed at WAVX's uncanny ability to place a PP right as their cash reserves were dwindled to zero. Unfortunately, WAVX just ran out of rich unsophisticated suckers.

BTW, here is stroll down memory lane.

http://www.cnet.com/news/wave-systems-about-to-go-tidal/