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Alea, the same folks who say it isn't a loss until you sell, true, until there isn't something left to sell........
Alea, the destructive nature of this type of research is magnified when it comes at the expense of the real nuts and bolts research into the company and it's financial operation and how the finances affect everything. This company makes a stunning example.
For years the argument has been made that wave has zero debt. Great , no debt to a finacial entity. What has that gotten you? To this point, this is success as an investor?
Barge I don't want to shred your message but......
Most of the DD that has mattered to the wavoids has been that brought after the fact. 95% of what you term obscure has stayed as such. The only thing this type of DD has succeded in doing is keeping investors to the party. The message attached to all of this DD is just wait it's going to be awesome, the same message that could have been applied back in 1999 still rings true today and is reflected in the shareprice.
The shareprice is the only true measure of those who are successful in an investment. Somewhere for this investor base that line became obscured and the want to be on the right side has seemingly taken more impprtance.
The real DD that should be taking place by this investor base should be laser focused on the financials of this company, the practices within this company and how this going forward affects your investment.
For years the focus has been on the space and the company has gotten a pass. From the inabillity to close a sale to the nepotism, to the precarious financial situations this company has continually founf themselves in seemingly every 2 years, the long shareholders have given them a pass, and allowed the company carte blanche going forward allowing themselves to bear the burden in the form of dilluted shares and pet projects that take money off the main focus of the company. Scrambls is just another in the line of these things. The argument is said that it will enhance the product offering. Why in the world are they trying to enhance any offering that hasn't even attain a pinkie hold on anything?
Getting back to the DD. This information has been the sole area that investors in this company have been able to attain to focus going forward. When you combine this with the incredible misguided view that has come forth from the conference calls, it makes for a very skewed view of how one sees the company and how the company is doing. The DELL reduction in revenue payments is glaring example. The longs touted this as a good thing because the payment on another product would rise. This product wasn't producing any revenues that were measurable and still haven't given the direction of the revenue from DELL over the last few quarters since the agreement was ammended. Yet the longs touted this as a good thing for wave. Same with the Samsung deal. And now with this Fujitsu deal which I glanced at and it looks like more of the same as Samsung.
To me these deals look like a gambler buying insurance at the blackjack table. Great move by these companies but where is the guarantee? Without the revenue attached this is like the kid being asked to sit for dinner at the adults table. Period.
Anytime any long gets frustrated by another long who speaks out they say sell, you made the decision to invest here or buy more. Plenty of those decisions were influenced but what has come to pass on these very boards and many longs have explicitly said as much. These longs are also quick to run from blame when a frustrated long suggests the same. The reality is that many of these investors view this DD that is presented here, and the very slanted and frankly uneducated cheerleading that accompanies the follow up posts as gospel. Is it any wonder given the track record of what comes out from Lee, Many longs have said you cannot believe what you here from the CEO, what does that tell you, and he has a track record that forms that opinion for better or worse.
Those who don't have the same view of this company have been outcast and have been right. That view could very well change, but what the wavoids have failed to account for that many of us did so very long ago could be the very thing that crushes there financial expectations. The very thing that should they change would turn many of us into the very same cheerleaders that have permeated these boards for years, that many of us were once.
And there's nothing wrong with that, that is investing, thats being a custodian to your own cash.
There is nothing wrong with demanding accountabillity to those you have entrusted with your cash. Growing your holdings to have them cut to be built up again and only to watch them be cut again isn't good stewardship in my view. This is a desperation move to keep the access to easy money flowing and that stream continues be the shareholders. And the carrot that keeps them holding on is the DD that is posted. The reality of that DD is much of it fades away, more of it pertains to the space, and 90% of it has returned zero to the shareholders. The 10% has kept those around throwing good money after bad. And it has a strong enough hold on enough people to probably allow business as usual to continue.
The wavoids need to put the dots away. They are treating this company in the same light they did 10 years ago. It's not that time anymore.
The longs are staring down the barrel of another RS. You have a trend of declining revenue quarter over quarter now for, what a year?
I hear a lot of talk about the need to stay listed or it damages the abillity to raise funds. What about the abillity to stay over a dollar right after the RS? I think that could be a blow they cannot recover from.
If the 2nd Q mirrors the 1st Q the stock will stay ove the threshold maybe mere days.
As shareholders one needs to ask themselves who has benefited from the continual need to raise funds, who has profitted and who has benefitted.
One could make the argument the company has not. Have the garnered any contract of note that has shown itself in the quarterly results?
The continual open faucet of printed shares has given this group the easy way out, it has allowed them to continually go back to the well. It has been very quick to reach out to influential shareholders in times where they have been most vulnerable.
This behavior has allowed this type of atmosphere to continue.
There is a shareholder base that seems more focused on laying blame at strawmen, and making excuses, and hoisting platitudes upon non performance.
While the longs were congregating over the last 10 years certain they were going to be partying like rock stars, the ones tipping bottles and in their hotel rooms where the ones who put their cash into something as game changing as an SP 500 index fund.
Up over 20% in the last 12 months... and you?
I betcha your CEO and BOD have done a little better than your stock has this year........
Thats right, and he probably would have been defeated if your tune wouldn't have changed once the CEO reached out to you before the vote.
TKC here is the reality for wavoids. You have the RS vote coming up and it's a pretty sure bet to be 1:4 if the share price holds. If not, there was language in the original RS announcement that could allow them to ammend the choices. If the price holds where it is you are looking in the 1.60 and change range. Here is where it gets dicey for the shareholders and the words that spill from lips the longs love. Q2 results will be very close in proximity.
How long will this hold above a dollar if it's more of the same? In my mind they have the next 6/7 weeks to get a revenue PR out there or they are in serious trouble. Do you think the NASDAQ cuts them slack to keep listed if they fail to maintain compliance so soon after RS to get compliance after 2 letters prior to the RS? I don't think so.
They need a revenued PR before June.
Only replying to you here because you are wrong.
In the filing that announced the reverse split was this:
CONSOLIDATION
The Company has announced that it will seek Shareholder approval at the 2013 Annual Meeting of Shareholders to be held on 20 June 2013, to amend the Companys Restated Certificate of Incorporation in order to effect a Reverse Stock Split of the Companys Class A Common Stock and Class B Common Stock.
The proposal seeks to give the Board of Directors authorisation to combine each outstanding 2, 3
or 4 shares of the Class A Common Stock and Class B
Common Stock into one share of either Class A Common
Stock or Class B Common Stock, at the discretion of the Board. Further information may follow in due course.
The further information caveat leaves the door open to change this ratio. They cannot lock themselves into a ration of any of these numbers should the shareprice fall below a threshold that would bring it above the 1.00 price that is needed.
You may feel that is no problem, and that may be fine.
The problem I see looming for wave and the long shareholders is that authorization of this RS falls before or very close to the reporting of the 2nd quarter result.
It's all well and fine to say it's coming and June is ours. Did anybody truly expect revenues to fall below 6M? I don't think there is one long that saw that coming. The longs don't put any stock into the reality of how fast the DELL portion of the revenue stream is peeling away. The numbers bear this out.
There is an urgency in this second quarter which I don't know if the longs have recognized yet.
It's very possible the share will trade in a .35 to mid .40's range until this RS is settled. If it's trading in the .35 to .40 area the 1:3 leaves minimal wiggle room and at 1:4 that gives them a .40 to .60 buffer. If 2Q comes in flat or slightly above Q1 with no visible revenue announced you have the risk of dropping below $1 again shortly after the RS, with probably no leeway granted by the NASDAQ. You run the risk of shareprice deterioration from more dillution via PP or ATM. This 2nd quarter which is nearly half over could be the most important in the history of this company. All the dots and news release aren't going to help this equity stay listed if the performance is more of the same given the proximity of the RS and Q2 numbers.
revenue guess south of 6.3 with a major drop in DELL revenue would not surprise if under 6 M
"Sounds like" has left the wavoids pantsed and penniless for years now Barge. The DD posting are getting old when they bear no fruit for the bagholder/shareholders.
The only thing, only thing these dots are doing now is leaving wavoids hoping for more time.
It truly is a damn shame that there are so many folks here that bought in hook line and sinker that left the only thing rising in Jagger said time waits for no one, and he is looking pretty damn sage about right now.
their brokerage accounts being their holdings and not anything with a dollar sign before it. Now even that holding number will shrink.
The reality the wavoids are going to be facing come next week is a Q1 that I can only imagine will be following a downward trend that will highlight a further erosion of the DELL revenue that is the lifeblood. When the announcement for the RS was made the quarter was already in the books. They very easily could have made this announcement in conjunction with the release of Q1 numbers seeing how this won't even be voted on until the ASM which is still weeks away. IMO they wanted to get the news about the RS out prior to the CC so you wouldn't have the twin disappointment of a bad Q and a RS buttressing each other on the same day. The stock price would be crushed far worse that it is right now. I believe they are counting on shareholder support to keep the price in the mid .40 to .50 range so they don't have to do a greater tha 1:4 ratio split, and I believe this sentiment is supported by what they are reading on these boards from the longs. I think there is very little interest in the stock once the longs, shorts and PP pariahs are out of the equation.
If it's a revenued contract then it does matter to their future. You will see why next week when the Q1 report comes out with falling DELL revenues again. Any contract in this space they don't get matters, especially with the big language your CEO has used for years, business in hand, pipeline, best of breed......
It's amazing to me how for years so many sharholders have kept their eyes focused on the big prize while these types of deals are downplayed as insignificant.
A few more captures of these types and maybe this company isn't staring down the barrel of a second RS which will surely be a 1:4 or ammended to a 1:5 IMO.
It's significant because this is an enitity not using the product in a space they have spent their time trying to convert into business.
The wave shareholder base is like heroin to those running this company. It struck me today when Buffet was on CNBC and said leverage was like heroin to the banks.
The shareholder base of this stock is being levered yet again.
Partner lists at this point are crap. How much revenue is being derived from that list? How much revenue has been derived from other partner lists...Obviously not enough to keep investors buying the shares to avoid the RS requirement. Obviously not enough to keep the shareholders from being dilluted. Obviously not enough to let the company self sustain.
At some point those list need to be taken in with the jaded eye given the track record.
Oh and today the United States Air Force went with another company. There's one leg in the DOD stool that has broken off....
Alea spot on
At this juncture we have seen many wavoids trip over themselves to lavish praise upon the leadership. The praise seems endless upon the technology from these same lips. The achilles heel is on the business side. It is a weakness from which this supposed elegant solution and genius leadeship may not overcome.
For without acute financial acumen the company runs the risk of putting itself into a further precarious situation without seeing the tough financial decisons that need to be made. We see plenty of precious dollar usurping going on. Lets be honest, is Scrambls germain to what they need to accomplish right now given the situation they are in? Can this not be pushed with greater authoity is and when a DOD contract comes to fruition?
Sell something that can drive the company forward before moving off into a different direction when the health of the company can sustain this sort of diversion. The shareholders cannot continue to shoulder every fancy this company desires when the core business cannot pay the bills.
$1,278,479 in BOD compensation since 2008 and $456,683 in 2011 alone. I can guarantee you that number will be over $500,000 in 2012
Bull Dolphin......
Some are characterising Hari as a bully as in bullying those who don't agree with all his points.
I would say one huge flaw in the longs view of this company is the cozy relationship they feel they have with the leadership. This IMO is based upon the number of times he has reached out on the message boards over the years and thru certain shareholders to pass along his words. I think this view point is also slanted by some very large positions the longs take in this company. If I had a large position within this stock I would certainly want to view things a certain way as well.
People seem to want to see the leadership of this company as not flawed but focused. I think that not seeing one needs some help in areas is a huge flaw, much to the detriment of the company.
We have no way of knowing in truth how many deals could have been closed weren't closed or were held up for some reason or another. We just know the pace has been slow. We know that the pace wasn't moving this slowly a few years ago and that was reflected in the revenue.
One can applaud the leadership for being focused, but the fact remains that the position wave finds itself in today points itself at the very weakness of being able to manage it's very financial resources. I have maintained for years that there is a very large disconnect in the financial forecasting going forward given the position within the TCG. While this may not give them an inside track, it certain should give them an inside load at trend and how fast or slow the uptick is or isn't going to be and allow the company to adjust accordingly. They have not planned their finaces well at all and have allowed themselves to be put in a position of selling receivables and doing placements and time that are not the most financially prudent for the company going forward.
These are the facts as we know them and as they are reflected on the balance sheet. This dosen't take away from the fact the management may be laser focused on moveing this company into a position that the long shareholders expected to be in yearsb ago. It also dosen't excuse or hold this management group blameless for the financial situation this company finds itself in today. Not fear, fact.
Some like to blame the short sellers for the position the company is in today. A strawman plain and simple. The shorts don't succeed if the company was executing. Period. The execution of the company to this time has allowed for this type of market activity to continue. Fact.
stock transaction by the insiders.........
Many lauded the purchase last year by the CEO as he laid out $52,810 in his very first at the market purchase.
2 sales from 2011 and 2011 netted the CEO 264,579.
on the SEC for it was reported that Sprague owned 205,222 shares directly and 12,367 shares indirectly.
Indirect shares sold in 2002 for $37.8
On 8/6/2003 sks aquire stock thro options 150,000 shares at strike prices of 1.10 and 1.15. He sold 150,000 shares throuout the same day at various prices. His outlay was 169,660. He sold the 150K for $565,283
shares sold in 2010 for 150,660
On a 3 day binge in 2011 one of your BOD members sold some stock and netted 135,811 from the sale. Mcconnaughy saw his salary on the board rise in 2011 from 88K to over 111K
Bushnell exercised 1.00 options and sold for 3.65 in 2010 for a nice 26,500 payday.
George Gilder waa the only member of this board to shell out his cash before dks did last year and he did it in 2005, 7 years prior to the tune of 37,905
In 2003 Feeney sold 100,000 shares at 5 bucks a pop
I am sure there are more but.......
Here is a very pertinent question any long should be asking themselves. The BOD gets stock option and they are exercisable from the date they are issued to what looks like 10 years forward. Some of the options issued were 1.00. Where was the BOD exercising these options when the shares were over 3 a share?
And longs say they don't want change?
Your BOD, besides Gilder-and he hasn't in almost 8 years now, won't put skin in the game and you expect them to protect your interest as a shareholder? And to that, would Gilder have purchased those shares if he wasn't an advocate in print and on the record via his newsletters?
Alea, speak of dillution lets slap down another wavoid myth. Buying shares from the ESOP. For years I have seen the bitching about those on the board and the management team not having any skin in the game. The long time wave shareholders always shot back that they purchase through the ESOP.
Well, correct me if I am wrong here, but the selling of shares-the dillution if you will, the dillution of the shareholders, created funds from shich the company was able to keep the lights on-day to day operation. Salary would probably fall under this correct? So in essence, the sale of shares which paid salary allowed those in management to purchase shares from the ESOP. No skin in the game.
From EDGAR, your BOD compensation......from 2008 to 2011 it doubled...how about the worth of your shares?
2011 cash and options
Bagaly 130,272
Gilder 102,272
Bushnell 88,220
McConnaughy, Jr 111,272
Frankenberg 24,647
2010
Bagalay, Jr. 98,700
Nolan Bushnell 88,200
George Gilder 79,200
McConnaughy, Jr. 88,700
2009
John E. Bagalay, Jr. 75,918
Nolan Bushnell 60,918
George Gilder 51,418
McConnaughy, Jr. 61,418
2008
John E. Bagalay, Jr. 69,581
Nolan Bushnell 49,081
George Gilder 44,581
McConnaughy, Jr. 54,081
These increases weren't just option based. Remember options are based on the price the day they are granted.
Look at the chart, more history. Any idea which way those salary numbers will be headed? And you will now have Frankenberg as a full blown all year member, watch his figure grow.
As investors, have these members served in the investors best interest? Does their compensation package allow them to have the investors best interest in place?
Compare this benefit package the BOD receives to what the BOD of Bershire Hathaway receives and get back to me.
Compare and get back to me..
"Director Compensation. During the 2011 fiscal year, Berkshire Hathaway held one annual meeting of the directors and four special meetings. Every director attended all meetings except for Mr. Gates and Mr. Scott, who each missed one special meeting. Directors received $900 for each meeting they attended in person and $300 for each meeting they attended by phone. In addition, any director who served as an Audit Committee member received a $1,000 quarterly payment."
This is all the compensation they received and I believe for the year it was 3,000. I think since 2011 it is now 1500 in person and 500 by phone........
you want another eye popper look at the executive compensation at Berkshire
http://www.sec.gov/Archives/edgar/data/1067983/000119312512119819/d280415ddef14a.htm
"
How have your shares fared since the last RS?
Date Open High Low Close Volume Adj Close*
Jul 26, 2006 1.50 2.08 1.21 2.00 171,000 2.00
Jul 26, 2007 1.99 2.01 1.98 2.01 107,600 2.01
Jul 25, 2008 0.80 0.80 0.70 0.70 111,600 0.70
Jul 24, 2009 0.86 0.88 0.84 0.87 194,300 0.87
Jul 26, 2010 3.23 3.30 3.21 3.29 282,600 3.29
Jul 26, 2011 2.43 2.43 2.36 2.42 296,300 2.42
Jul 26, 2012 0.65 0.65 0.63 0.65 106,200 0.65
Apr 26, 2013 0.49 0.49 0.46 0.47 561,800 0.47
essential 5.53 underwater before the first RS and 1.53 under post RS shares.
One can argue this is the failure of the market to engage that has caused this erosion in shareprice.
There has to be a market engaging in this space for new money to take a stand in this equity.
SKS and co. have a track record, a history so many wavoids want buried that it makes new money wary from entering for the long haul. New money does come in when revenue driven or perceived revenue driven news is announced. This new money doesn't have the attachment to this company as the wavoids and leaves without follow through.
The statements from the company have a history and this history makes this company ripe to have it's shares damaged in the markets, because there is a pattern. The same pattern of a chart which is history.
Lets take a look at April 26th closes- here's that history we can't bury fast enough......
Been around since 1999
close volume split adj.
Apr 26, 1999 22.62 117,000 67.87
Apr 26, 2000 17.75 275,300 53.25
Apr 26, 2001 4.08 76,700 12.24
Apr 26, 2002 2.16 23,100 6.48
Apr 25, 2003 1.09 534,700 3.27
Apr 26, 2004 1.44 122,100 4.32
Apr 26, 2005 0.84 177,500 2.52
Apr 26, 2006 0.83 375,100 2.49
Apr 26, 2007 2.55 91,700 2.55
Apr 25, 2008 0.69 217,500 0.69
Apr 24, 2009 0.62 31,400 0.62
Apr 26, 2010 3.98 573,000 3.98
Apr 26, 2011 3.28 349,200 3.28
Apr 26, 2012 1.40 195,700 1.40
Apr 26, 2013 .47 561,767 .47
This is what you longs are paying for. This is what your BOD has been complicit in. 2 years out of 13 on this date there has been measurable share appreciation. 2 years. I am quite sure this pattern over the course of 13 years repeats itself.
Yet the longs applaud and endorse this in your investment. This is the result of action of those running the company. A result of operating the company on the backs and the largesse of the common shareholder. The result of years of empty words. This is the history the longs don't want discussed and want deleted. This wave longs however is the very real history of your money. This is the very same money that you placed your bet with knowing and having publically admitted that it was an all or nothing bet.
To bad the all or nothing you bet on you foolishly thought would the acceptance, or not of the company product. The all or nothing turned out to be all financing of the company on the shareholder, all monies reaped by insiders, with nothing be returned to the shareholders to date in spite of some longs in there 3rd decade of share ownership.
And for this you want to check yes across the board for everything this management team wants?
wow.............
I would not neccessarily put this in that same category. Procuct liabillity stuff and the like. this was a screw up by the company not doing it's due dilligence on a company they purchased. When they found the problem and divulged it, it has left them open to possible litigation from shareholders that have received shares from the offerings from the date it was divulged.
Basically I don't think that language is going to disappear. If they do a 1 for 4 RS to take the float down to around 25M all the shares they issue going forward are subject to this language.
The company has already said this was discovered after the fact. If Safend wasn't hiding something well then.......not SOP in my opinion and the cost to the compnay to defend this even if it was to be found baseless could be severely damaging to them given there cash flow situation and going into a RS situation they open the number of possible litigants up to who knows how many fold.
Not a big deal.........
Not given the very specific description in the filing would I characterize this as not a big deal.
I didn't think they were going to the lawsuit they did a few years ago either........
Possibillity of future litigation for all shares being offered since the Safend error discovered in March 2012 per the filing
We may be subject to claims and additional costs as a result of our determination in March 2012 that certain previously filed financial statements relating to Wave's acquired subsidiary, Safend, should not be relied upon.
In March 2012, Wave determined that previously filed financial statements of Wave's acquired subsidiary, Safend, relating to certain pre-acquisition periods should not be relied upon due to certain accounting errors, as further described in Wave's Current Report on Form 8-K filed with the SEC on March 15, 2012. To date, Wave has not filed restated pre-acquisition Safend financial statements. As a result, there is a risk that claims relating to these errors could be brought against us, including by purchasers of our shares in offerings made by us under our shelf registration statement. Since March 15, 2012 (excluding this offering), we have sold 12,691,399 shares, along with warrants exercisable for 2,956,287 shares, for an aggregate of approximately $11,719,000 under such registration statement. Any such claims or related litigation could result in substantial costs, divert management's attention and resources, and have a material adverse effect on our financial condition and results of operations.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001047469%2D13%2D004885%2Etxt&FilePath=%5C2013%5C04%5C25%5C&CoName=WAVE+SYSTEMS+CORP&FormType=424B5&RcvdDate=4%2F25%2F2013&pdf=
Why no shareholder letter?
This question begs to be answered. Every shareholder is of record. Not every shareholder participates on the boards. The very fact that this company, due to the lack of execution, needs to have another reverse split begs to be addressed in a letter to shareholders of record.
The shareholders who have supported and, frankly, bankrolled the company and in effect the salaries and perks of those within this company and on the BOD deserve far better than having a mouthpiece on some message board carrying that message forward.
Long time longs need to think with their wallets now.
You have the history from which to go on. The history from which all good financial people draw when they are making judgements concerning their investment. Hence this is why charts patterns are followed. Patterns wavoids patterns.
You have a solid history from which to draw and base your decision upon. You have a history of action this company has chosen over the years from which they have repeated.
There is serial actions here from which you can draw. There are words from the ceo that span back years and you can draw your own conclusions from the words that have been spoken and the results.
You have years of words from longs and you also have years of how your stock and this company have financially performed in relation to those words.
You have the words of those who see this company in a different vision than the longs. You can judge over time how these views have meshed with the performance of the company.
You can see how the actions of those running this company have aligned with the investors. They speak for themselves.
You can see how the CEO of this company chooses to speak through a surrogate. How many successful companies choose this method?
As longs, shouldn't you ask yourself why there wasn't a letter from the CEO to the shareholders? You are all shareholders of record, it shouldn't be too difficult.
This company has been extrememly reliant on it's shareholders through the years. It has basically been funded on the backs of the shareholders throughout it's existance. It has asked a lot from it's shareholders, without offering very much in real return other than hope.
In this last offering, hope is still the biggest selling point and there is very little being offer to the shareholders other than that. There is no shared sacrafice to be seen.
Again I ask why isn't a letter being sent to the shareholders of record to make the case, not all shareholders are on the boards to be reached by your CEO's mouthpiece. As a long at this very pivotal, and frankly, precarious moment in your companies history I would find these actions below board.
Some food for thought on the timing of this announcement and the hopes of some revenue announcement falling from the sky.
I felt pretty confident about this RS being announced and felt fairly certain we would see this announcement come the friday before Memorial Day. I came to the conclusion based on the time frame of the last announcement for the 1st RS. It would have placed that a few days just after the the holiday and i figured it would be buried the friday before the holiday weekend. I figured they would try and hold off until the last possible minute and hope they could some how get the ten days going into that weekend beginning on May 13th or so.
I think this speaks very poorly of the chances for any PR revenue deal going forward. I think it's quite possible this decision could have been reached because Q1 results are going to show a further decline in revenue- Maybe being further damaged by declining DELL revenues and an inabillity to replace other revenue streams that were being reported thru the end of last year.
This will be seen soon enough with the 1st Q report due shortly. I cannot imagine this long time frame does the shareprice any favors in keeping the RS number to a reasonable ammount. It's quite possible with another poor quarter, that the share price dives yet again and a 1 for 4 may be need to at least give a greater than .50 or .60 cushion about the 1.00 threshold.
I see, not nearly as bad as i suspected, but still not a good situation to be in.
Think about how heinous that selling of receivables really is.
If the revenue is 7M and then you tack in the 20% plus fees and commission the take on that 7M comes in closer to 5M!!
And from what I read about Dell and tablets it seems they are making a late move into the game, behind the curve in the tablet space.
I think the wave supporters have to brace themselves for a loss in DELL revenue plain and simple. They have bigger things and more energy being spent on what is happeneing internally with what direction and what the company is going to look like going forward than pushing a product that has no bearing on DELL's personal bottom line right at this moment.
That's the disconnect for the wave investor, their product has no bearing on other companies bottom line, while every customer of wave's effects their bottom line.
Blue, thats why I think you see the tweet machine firing up.
Truth check wavoids--who is following the wave tweeters other than wavoids?
Rally the loyal troops to suppport the stock since Q1 is done in some effort to push the stock over 1.00.
Problem for wave is those that play the other side of the coin see no reason to fear a rising tide of revenue driven news.
This is the reality of the stock.
I really think you are gonna see this price settle down around a .39 to.44 range before the announcemt of the RS comes forth.
Then lets see how persuasive the wavoids can be in preaching patience and just a little while longer. Hell if they do a 1 for 3 there given the news that could put the price right around 1.17 to 1.32. They might not carry 10 days over a buck at those prices given the news flow-AND a much clear direction on where DELL is headed. I don't think there is any way in hell this group of financially abused stakeholders allows anything more than a 1:3. No way.
The RS rope isn't as long as you think wavoids
The last time around wave needed compliance by on or before August 8,2006. They filed a special definitive proxy with the SEC on June 26, 2006 for a special shareholder meeting to vote on the RS on July 24,2006. If the RS was turned down they had until October 21,2006 to regain 1.00 per share for 10 days.
The new filling says they need compliance by July 8th 2013.
Working backwards you should see notice from the company via a filling at or around May 26th or so.
That is 35 trading days from Friday, and the 26th is on a Sunday, the 27th is Memorial Day so you can bet that filing will be out on the 24th trying to get buried into the holiday weekend.
May 13th is your day of reckoning before the wheels go in motion wavoids- 26 trading days from today.
Wavoids seem so positive that revenues are a done deal the second half of the year, why would they even have that language about a possible reverse split?
No revenue to move the stock over a buck by September 21st?
Maybe thats what you should be thinking about before you pull the trigger on more shares, once again you don't see the BOD or CEO placing bets when you are, just collecting salary yet again.....
I see a lot of excitement about wave tweets....
That to me reeks of the same type of DD found on the boards. Lots of hype with no financial meat on the bone.
The timing to me is very very suspect given the action of the shareprice.
The timing is extremely suspect given the time to notify the NAS about their plan to get the shares above 1.00 for 10 days.
If they do a 1 for 3 again the float goes down to 50M the outstanding shares I think are around 35 to 36M
The shareprice goes to 1.83.
If revenue stays on the same track how soon before the available float gets tapped, how long does it hold over a buck, and do they have the balls to ask for more shares so soon after the RS?
Wavoids need to wake up and realize this RS is almost a done deal.
Dammit Barge.........I had a stake in Irvine Sensor too back then....son of a bitch.....lol
RWK and all the other wavoids who say the RS dosen't harm shareholder value........
A reverse split is never a good thing. It is a damn near a last resort to keep a company afloat on market where it's trading can be regulated.
It gives the impression of a company in a week position. I contend this has harmed the company before and will harm it going forward.
This perception is what allows the company to be so agressively shorted- you cannot deny that.
It allows the company to continually fund the company on the backs of the shareholders.
It has funded unearned bonus money for years-issuing shares and then having that money pay bonus. The dillution allows the impotent BOD to be compensated to the tune of 70,000 shares a year if what I read was incorrect, while Bershire Hathaway pays its BOD 300 in cold hard cash for an in person appearance at a meeting or 100 if by phone.
Have these dillutions extended the runway? Yes in deed, and I think it has also been applauded and welcomed by the in too deep such as yourself.
This same behavior and action- which by the way in case you guys forget have been necessitated because the sole fundtion of the company which is to make itself solvent has been missing since day one.
And any wavoid worth their salt cannot deny actions such as these have delayed, even allowed the company to take any serious look at how they could go forward without using the shareholders as their financial crutch.
$300 per meeting in person or $100 attending via phone. This is what the BOD of Bershire Hathaway are paid.
Dig, here is a question for you, or any of the other critical thinkers on this board.
How badly do you think the company's financial situation hampers them in luring new business?
I think this is a very real concern.
For all the talk about wave being the straw that stirs the drink, there isn't market penetration to back that up.
For years we were lead to believe that once the foot was in the door, it was the recurring revenue stream that was going to fill the coffers.
If you were a company making a multi-million dollar invetment would dealing with wave in their current seemingly recurring financial situation give you pause?
Wavoids love to do the DD on the possibilities of marketplace opportunity.
The companies that may be looking to do business with wave are looking at wave from an operational sense, and I think as investors looking at the bigger picture that is so very easy to forget.
I would contend this is at least as big an obstacle right now as any delay they perceive in the space.
I don't know what the BOD compensation is, but just read a Barron's article about them appointing a new member to Buffet's Bershire Hathaway board. 300 cash per meeting attended in person, and 100 per meeting attended by phone. The number one problem on a BOD according to Buffet, crony friends or family of the CEO that dosen't provide correct guidance or put the interests of the shareholders and business first....
DELL purchased Credant last year which was always shot down as a non factor on the pro-wave boards. The concern I would have here and now is that you have DELL trying to be taken private and they are looking to become a more solution and service based company slowly exiting the PC arena, kind of like what IBM did. Great articles about that and the buyout controversy that was covered over the past few weeks in Barron's.
The question I would want answered is what interest does DELL have in pushing anything wave enabled when they have a product they could monetize 100%?
We could argue about what one product offers over the other but I think that point is moot because there is no market share captured at this point. The standards that we read about that seemingly favor wave have added nil to date. What happens if DELL makes a concerted push and ad campaign with this product?
The auctioning off of accountables and receiving only 80 to 85% of value is a killer, and then having to pay a portion of that to TRE.... wow ............ and while this is going on, the wavoids want to defend Scrambles now bleeding millions off? 500K a month..wow.
Dig I think wave's days with DELL were numbered once the purchase of Credant went down. i think their impending move private to become a more service/solution oriented company only drives the stake in deeper.
Why in the hell would DELL continue to offer up a few bucks to wave per unit when they have an in-house solution to offer up where 100% of the revenue goes into their coffers?
We can talk about standards and who's product can do what.
Have these standards enhanced wave's position one iota?
It certainly hasn't been reflected in their bottom line.
What is going to keep those standards from getting watered down?
What kind of offense can they play if DELL decides to throw it's weight around pushing it's Credant solution?
I have often laughed at those dancing on wave's grave prematurely.
If DELL cuts them off or cuts back on it's bundling fees wave is DOA, no doubt about it.
They cannot sell the product in the timeframe they need- like right now.
They have shown from top down there is less than zero fiscal responsibillity inside the company and the only concession to cost they make is on the head count- the only tool they use to control cost.
The shareholders are there to exploit for gain and runway expansion.
The 1st Q will be more of the same crap. These shareholders are going to be reverse split yet again.
The cheerleaders are getting exactly what they deserve, they continually put their support and muscle behind this incompetence. Congrats.
Alea, Manglement is the word you are looking for