Wave Systems Corp. (fka WAVXQ)

[mymoneybgone]

Many longs tried to make the case about the product working across platforms giving it the leg up, but the revenue showed otherwise. Shareholders were going crazy trying to figure out why with all the breeches that nobody was on board. I know people that do product liability defense work and companies deal in a cost lost formula when they have an inferior product in the marketplace. As huge an impact as these breeches have caused it has not pushed these companies past the point of forcing change-which is what Wave needed.

Look at the loan language for Peter Sprague in those old filings.

Look at the founders shares. Many longs thought they would be used to stop a take over since those shares carried multiple voting rights. Enough to outweigh the common shareholder. The filings showed there was no market for those shares and there was a very small number of the shares owned. My thoughts were such that without a market the price could be set at whatever was needed to serve their purpose.

Look at the process for removing a member of the BOD. If you want to see the coup de grace in the form of double birds held straight out while mouthing EFF YOUU peruse the section on how difficult it was to vote out a member of the BOD and then read with slack jawed amazement the compensation packages these grifters were paid to look after the interests of the shareholders.


The leaders of this company were supposed to unlock the value of this company and be good stewards of the shareholders investment and did neither.

They refused to buy stock on the open market and with good reason. If they were not buying, the shareholder should have followed suit. Many times the water carriers would say they cannot buy because of material items, but I saw many companies do it. CECE was one holding of mine that saw many buys prior to revenue related news. The company was financed for years on the backs of shareholder via the dillutive selling of shares. I assume this money funded the company and paid salaries, and even with this unearned money they would still not buy shares. Shameful but a glowing red flag.