Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That still does not address why DELL would spend resources on a company in 2012 with MSFT poised to run everyone out of the gym. On top of that to unseat a technology they were putting inside their boxes.
I found a press release that said in in December 2012 this
"Credant currently secures more than two million endpoints with customers across a variety of industries ranging from retail to financial services to healthcare, among others."
There is no way in hell that Wave had this type of headway into the markets at all.
Credant was a company that was routinely and roundly derided by the pumperatti as being a lesser solution and they kicked wave's ass period. They certainly did not have the push that wave had. They didn't become a company until 2001 I believe.
Here is another kick in the groin for the former wave investors.
From what I could find Credant only raised around 21M to fund the company from 2002 to 2009.
Those running the company profited on the largesse of the shareholder base and the naivete of these same investors.
There is no denying that those on the boards who provided the information about the company were operating in waters that only went one way. There was very little in coverage that was not paid for by the company itself. The people that presented this information to the board in many cases only knew what they had learned by reading and what they googled since they did not actually work in this field. Those who did work in the field were run off the boards, the coverage that came down as negative was derided and those who saw red flags were denied the opportunity to voice that opinion in the same fashion as those self anointed gurus for fear that there was some sinister agenda those posters held that was going to damage the shareholder psyche. "they are only trying to pry the shares from the weak hands" was a classic.
Those on the boards and those inside the company played the investors for all it was worth.
It was like trying to kick a door down of a house on fire only to have those trapped on the inside being told to barricade the entrance.
A really good place to start would be the inabillity ti secure a loan. It had nothing to do with wanting to stay debt free as many had often stated. Their books were a piece of sheet. The compensation was completely out of wack given the standing of the businessn. The money lenders saw no value where the investors assumed there was. The only value was found by those predators who fronted them money at .80 on the dollar on earnings that were coming in. It was guaranteed. The Dell leaving because the writing on the wall with the market not adapting is bogus or they would.not have ponied up for Credant. Wave was a hedge for them and the cost of carrying them quarter over quarter without adding sales to their bottom line became too much to carry. If you look Dell began acquiring security companies after they signed the wave deal. Why weren't they acquired by Dell? If sks saw the writing on the wall as uou say they should have been acquired by Dell. DELL had a history with them and it would nake sense..the fact they were not sold to the partner that knew the product as well as anyone tells you all you need to know.
D & O A good measuring stick if you were one of the lucky ones was holding less than a four figure share total. You should be grateful if that total was under 3 digits in number.
Orders in hand, IBM/Intel, Break Even carrot, multiple reverse splits, outrageous compensation when comparing apples to apples for both those running the company and the BOD, the touting of the pizza company using the product with a wave investor unmasked in their employ, the incredible amounts of private placements and ATM shares being sold and the issuing of share after share, the sheer unreliable amount of verifiable information that was bandied about, the absolute way the shareholders were neutered by language in the filings with how the company was set up, family on the payroll providing nothing to the bottom line that screamed value, the seat at the TCG that resulted in ..what?....take your pick. These are all horrible on their own..but together...
All these examples and we don't even get into the behavior of the investors and the defense of that.
The universal game set and match when DELL propped the company up and yet when they pulled the plug effectively after they bought a competitor that was roundly picked apart there was hardly any discussion. It was treated as a non event that would be replaced by revenue from other sources. That revenue source was selling shares to the believers and selling receivables at a substantial loss..the payday loan effect.
I haven't commented on it in a long time but man it's still f***ING unbelievable to see it. It surely is a very pertinent reminder when I am getting lackadaisical about an investment to really bear down and do the homework on what really matters.
Golpe I think that claim is bogus as well. If what I read here is correct
http://digital-law-online.info/treatise-supplement-priorart.pdf
it looks like anything they filed before 2011 would not have been diminished.
It just comes down to a snow job from the information that was dispersed in the pipeline and wildly exaggerated on the boards. The financials always told the true story. The product just never worked the way it was advertised IMO.
I worked in printing many years ago--engraving. There was a Colorflo process that was going to revolutionize the engraving industry at the time. It involved pinholes in the die that was spring loaded. There was ink that was connected to the die via very small lines. When it it came time for the die to make the impression on the paper the ink would squirt through these pinholes printing your impression. It allowed you to print many colors at once. Most of your presses could run two color max with a split roller and splint ink well. It would save time on set up spoilage and expand the product offering. Only problem was it rarely if ever worked. Temp affected it, colors ran, different color ink reacted differently with some drying inside the injectors. It never worked and I saw guys going crazy over this process for a couple of decades to no avail.
To keep things in perspective.. the lack of sales told us all we needed to know. But there wasn't just one working product. The company was not this big bloated behemoth. If they had some some cash generating customers they could have gone forward-if those patents and if that product did what everyone believed. I don't.
Quite simply there would have been something there. All those pilot tests and nothing told me something. The carrot of the pipeline is what kept the lights on because it kept hope alive and kept investors on these boards buying. At some point the cash they had coming in dried up and it was the threat of the nasdaq and being cut off from selling shares that backed the company in a corner. Two very crappy PR that laid the finances bare going into a reverse split and nasdaq notices put them into the corner. The body was dead before those financing deals were reached. That was the hail mary and the inclusion of those patents was the only collateral they had.
I think they signed the deal thinking something was going to happen. I believe the RS came down and it took the price down faster than expected which in turn was going to trigger the delisting. I think they got blidsided by the speed it all went down at. Once that happened I think that whatever deal they had- remember this loan was not for a ton of cash- whatever it was either got held up or the backed away from the table and the company got caught with their pants down.
Golpe that's kind of bogus. The terms of the deal stated they had to find a way to monetize those patents some way some how...and they could not do it. They had years leading up to that point and could not get it done. One can speculate the reason as to why, but where is the proof? The only proof we have is in the rotten numbers quarter after quarter. It took years for those numbers to even show any upward movement. Once DELL came on board those numbers moved much higher, but it's very apparent that DELL was the driver. Isn't it also very possible the reason they closed some of the other deals they had was because they could roll out the DELL name in a sales pitch? I don't think Papa Gino's brought in any other business. I think their business was almost all DELL-centric and the attachment to that name. Once DELL peeled back, the revenue did as well. That's really all there is too it.
Take a look at the company that paid the 3 million. It makes sense since they bought Ntru a few years ago and the work that Ntru and Wave did a decade or so ago. With their client list this was a drop in the bucket. The Wave domain going for 100K makes sense for the company that bought it because of what they do. The name never fit the product anyway.
I understand there is reasons one wants to attach as to the why's. There are real costs to these security breaches and data theft. I cannot imagine there was this concerted effort to bleed the company out to swoop in and pick the bones...not dragging out for more than a decade anyway. This was a company that was mismanaged by somebody who had no fiscal prudence and no experience in the CEO seat for over a decade. There was a vision that was presented and validated by posters- lets call it what it really was -a hobby- because for the most part it was not their industry in which the living was made. It was information cobbled together from the internet and from what the learned from talking to those inside the company. And there were posters in the midst who partook and most likely profited in private placements.
The tainted vision of the company held by the shareholders was so different by those who had to actually entrust it's security of it's company to and the cash investment that comes with that. That was apparent quarter over quarter for years. Some chose to ignore this very simple piece of DD.
A client list a company has no problem displaying..
https://www.securityinnovation.com/company/clients.html
Follow the yellow brick road.....Wave Systems and NTRU Partner to Offer Comprehensive, Cross-Platform Software Solutions for Trusted Computing Markets
http://www.businesswire.com/news/home/20040223005340/en/Wave-Systems-NTRU-Partner-Offer-Comprehensive-Cross-Platform
Security Innovation acquires the assets of Wave in the liquidation 2016
in 2009 what happened?
..... the company acquired NTRU Cryptosystems, a developer of advanced embedded security and encryption products.
https://www.securityinnovation.com/company/about-us/history.html
News out today.
Player I want to thank you for the updates regarding the court proceedings.
Blue, thats something for those who were led into the abyss to decide. For posters that were denied posting privilege this doesn't matter because we saw this for what it was. Regardless of the tactics that some posters used and in what light they wanted some portrayed did not change the outcome. They hated the messenger because of the message never bothering to see if what was being said had any merit. It was dismissed out of hand. They labelled all who disagreed as bashers. But there was substance behind that message which was far more than what passed as good. The substance was the poster that posted the message as expert. And that was good enough. Only it wasn't. The bankruptcy settled this debate. The theories as to why the company failed are many, but it does not change the egregious pay scale that rewarded those at the top of the food chain through the BOD and the nepotism that was rewarded for years on end. Please compare other start up companies for compensation. .look to successful companies BOD pay to see for yourselves. If I was a follower of the other boards exclusively I would very troubled by the actions if the posters in hind sight...the lack of interest in how this went down and the disappearance of those who posted for years on the minutia for years on end..to the point of trying to discredit every challenge a viable company made to what they defended that was really indefensible. By the look of the boards the duscussion has disappeared. There really isn't anything left to rehash unless you have been financially harmed. IMO everything we discussed on this board as being harmful to.the company came to pass. Every single thing. With this post I am going to close this chapter...delete the board bookmarks out of my favorites and fade into the sunset. I will occasionally peruse the boards just to see if any affected shareholders make any progress. I don't foresee engaging in any discussion past this. Again I hope those that are seeking answers find what they are looking for..I hope those that were damaged by investing in this stock can move forward and I can only hope that if there were those that took advantage of the many decent posters that have been involved in this sorry story that those people cab be revealed to those same people whom they took advantage of.
Deja vu
No kidding...Guess I should have read it closer before I posted that. It's come full circle....
Safend ..looks like a market for this product. The other stuff, not so much. I wonder if the royalty payment back to Israel disappeared because of the bankruptcy....
SuperCom Buys Safend from Bankrupt Wave Systems to Bolster Cybersecurity Business
SuperCom (Nasdaq: SPCB), seller of secure-ID and secure payment solutions, has acquired Safend Ltd., provider of encryption and data theft protection software.
As a part of the deal, SuperCom will provide Safend with up to $1.5 million of working capital through a structured debt and equity vehicle. Safend was a division of Wave Systems Corp., a Cupertino, California, company that filed on Feb. 1 for liquidation under Chapter 7 of federal bankruptcy law.
Safend provides protection against theft and loss of data through information mapping and data flow control techniques employed through email, web, external devices and other channels. Supercom’s CEO, Arie Trabelsi, says the acquisition will help his company by bringing in new technology, security experts and customers, strengthening SuperCom’s cyber and data protection capabilities, particularly with its government clients, Internet-of-things business and secure payments services. Both companies are based in Israel—SuperCom in Herzliya and Safend in Tel Aviv.
Safend, founded in 2003, has more than 3,000 customers in the U.S., Europe and Asia, and more than 3 million software licenses sold to clients, including government agencies and businesses. As part of SuperCom, Safend will continue to provide support, services and upgrades for its data protection brands.
SuperCom’s businesses include digital ID solutions for governments and organizations, secure mobile payments and radio-frequency ID, tagging and tracking solutions, including monitoring devices for livestock and parolees. Wave Systems acquired Safend in 2011 for $12.8 million. According to SuperCom, Safend's average annual revenue in recent years was about $5 million.
Cybersecurity has been a ripe sector for middle-market M&A. In January, cybersecurity firm FireEye Inc. (Nasdaq: FEYE) acquired competitor iSight Partners in a deal that could be worth $275 million. In February, cybersecurity provider Thycotic purchased Arellia, a Windows protection software company that was backed Insight Venture Partners.
Mergers & acquisitions recently hosted a webinar on how cybersecurity threats are driving deals. Panelists included: Eric Feldman, chief information officer, the Riverside Co.; Jason Kaufman, head of Chertoff Capital, the Chertoff Group; and Scott Stevens, co-head of IT security, William Blair & Co. View the webinar, sponsored by Citrix ShareFile.
http://www.themiddlemarket.com/news/tech_telecom/supercom-buys-safend-from-bankrupt-wave-systems-260047-1.html
The last few hours...........
The disappearance watch is on,500 shares traded today. With the NAZ disappearance notice even the fractional traders are fleeing.
They are on the pinks right now........
http://www.otcmarkets.com/stock/WAVXQ/quote
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11202224
Only 6 more trading days left on this corpse.
I think it's very telling as to which of the posters are MIA since this went down. I would probably start looking at the posts around the NAZ notices,any of the ATM sells,financing over the last year or 2....right up until the Bankruptcy notice.
Player if you look at page 9 of the 10K that was just filled they gave there patents a .4 in usefull life which is measured in years. That also could have been useful information going forward on a RS. That was dated end of September and by that metric it was going to be worth zero by the company account by this time.
Player, all those events were discussed many many times by all of us on this board and how awful they were ..also how damaging they would be going forward. Obviously now it appears they had reasons not to supply the shareholders with information prior to the RS vote. It certainly gives the appearance something below board may have occurred. Suprising when you think of how closely many people have watched this company regardless of what position you held regarding the success of failure. I will take the track record of the folks on this board over anywhere else any day.
It sure appears that way. Thats why those who lost cash that feel wronged need to watch what happens when the assets are liquidated more so than hoping to get scraps left over. That ship has sailed and i think there was enough warning shareholders. I never heard dollar numbers ever spoken. The foward guidance to me is covered by the reliance on other business bringing product to market statement in filings. They cannot know another companies business going forward with certainty. Insider trading? Hardly..don't believe they owned enough shares to do damage....and the patterns were there by the PP participants if you cared enough to pay attention. I know A-Bob's had a disclaimer about the information on the boards so I assume at my own risk all info on these boards could be suspect.
The same reason there is always surprise....nobody takes the time to read the details. The devil is always in the details. The details were specks and noise for years. Get an eye opener and read the financal that was released last week and pay attention to pages 9 and 10. Look at the value the company placed on its own assets going forward in 2015 and what they were in 2014 in the opinion of the company.
It would be nice to see ExPat show up for some commentary. His posts were some of the most spot on and ones the drew a lot of ire from the not in the field DD crowd.
Since the company has ceased to exist it's time to move forward. We can all watch the bones get picked apart and maybe make some sense of what the hell happened as the court puts this thing to rest. The HUB was were everybody migrated from when raging bull died. This board was where many got there eyes opened and stopped believing what was being pushed.
Maybe this board is the one that many long time, MIA names can drop in and say so long to some folks. I am sure there are many people out there who may be worried about some of the posters after this. There are a lot of names who have not seen the end of this journey that we are all familiar with since we have been here for so long. Nobody needs to get nasty and nobody needs to attack anybody..
I started peeling through the financials and had some people corresponding with me on the other board and it's time to just let this thing play out in the courts and the story will come out in time. It really is time to move on
In May Roth oversaw a PP and got a little over a million warrants at .81 expiring in 2020. In Sept. the convertible loan came and reset those warrants to .07 I wonder how many of those were excercised and sold?
The nail in the coffin IMO in this passage here:
In addition, an event of default will also occur if Wave does not receive an offer to license or purchase one or more patents owned by Wave or any of its subsidiaries within 60 days of initial funding by MBFG. If there is an event of default with respect to either of the foregoing conditions, MBFG will be entitled to receive from Wave $100,000 upon the occurrence of each such event and an additional $50,000 for each 30-day period that elapses prior to cure. Due to the Investment Bank Condition being satisfied, the total maximum borrowing under the Facility has been increased to $3,000,000 but is effectively limited to the extent of Wave’s qualifying accounts receivable and qualifying purchase orders at any time. Further, Marble Bridge has the discretion to decline to make advances at any time.
When the smoke clears I want to see what Marble Bridge does.
Marble Bridge is the name to look at since they did the financing
from the SEC filing
On December 14, 2015, Wave Systems Corp. (“Wave”) entered into a financing facility with Marble Bridge Funding Group, Inc. (“MBFG”) pursuant to a Receivables Purchase Agreement by and between Wave and MBFG (the “Purchase Agreement”), as supplemented by an Addendum to the Purchase Agreement by and between Wave and MBFG and by a separate Validity Guaranty delivered in connection therewith (the “Addendum,” and, collectively with the Purchase Agreement, the “Facility”), pursuant to which MBFG will factor certain eligible accounts receivable and purchase orders from Wave. Subject to the terms and conditions in the Purchase Agreement, MBFG will provide an advance rate of 80% on the face amount of accounts receivable submitted for financing and 70% on the face amount of purchase orders submitted for financing. There is a $750,000 sub-limit on factoring of purchase orders. Wave will pay a discount fee for each factored receivable equal to 0.95% of the face amount of such receivable for each 15-day period that has elapsed since and including the applicable purchase date and through the Payment Date (as such term is defined in the Purchase Agreement). The discount fee for each purchase order will be 1.95% per 15-day period. Upon the occurrence of any event of default, pricing on the combined financing facility will increase by 1.0% per 30 days until cured. Wave has also paid a $850 per month facility monitoring fee and a one-time $7,000 due diligence fee. Wave has granted MBFG a first-priority, all-assets lien to secure its obligations under the Facility.
The term of the Facility will be one (1) year with automatic renewal of consecutive one (1) year terms thereafter; provided, that the term of the financing for purchase orders is 9 months. Wave will have the right to terminate the Facility upon 90 days’ prior written notice at least 90 days before the renewal date, so long as there are no outstanding and unpaid receivables that have been purchased by MBFG and no fees, charges or other obligations owed to MBFG. MBFG may terminate the Facility upon 90 days’ prior written notice at any time. If the Facility is terminated for any other reason than by Wave as described above or in connection with an acquisition of Wave resulting in gross proceeds payable by the acquiror of at least $15,000,000, then Seller will pay MBFG a termination fee equal to the highest total cumulative fees charged by MBFG during any 90-day period after the closing date of the Facility.
The Facility will be limited to a maximum borrowing of $500,000 until an investment bank, approved by MBFG, has been retained by Wave to pursue a sale or other strategic alternatives (the “Investment Bank Condition”). A failure to satisfy the Investment Bank Condition within 14 days of initial funding by MBFG will result in an event of default under the Facility. However, on December 15, 2015, the Investment Bank Condition was satisfied by Wave. In addition, an event of default will also occur if Wave does not receive an offer to license or purchase one or more patents owned by Wave or any of its subsidiaries within 60 days of initial funding by MBFG. If there is an event of default with respect to either of the foregoing conditions, MBFG will be entitled to receive from Wave $100,000 upon the occurrence of each such event and an additional $50,000 for each 30-day period that elapses prior to cure. Due to the Investment Bank Condition being satisfied, the total maximum borrowing under the Facility has been increased to $3,000,000 but is effectively limited to the extent of Wave’s qualifying accounts receivable and qualifying purchase orders at any time. Further, Marble Bridge has the discretion to decline to make advances at any time. While this facility provides some assistance in financing our operations, it does not fully address many of the Company’s pressing financial challenges, including the $588,000 Convertible Bridge Instruments that mature on December 23, 2105.
As additional consideration for entering into the Addendum, Wave issued to each of MBFG and its co-lender Agility Capital II LLC (“Agility”), a warrant to purchase up to 2,750,000 (5,500,000 in the aggregate) shares of Wave’s Class A common stock at an exercise price of the lower of (a) $0.15 per share or (b) the lowest closing market price of Wave’s Class A common stock within five days of the date of exercise of the warrant by MBFG or Agility, as applicable (such price, the “Exercise Price”). Each warrant expires on the fifth anniversary of the issue date (the “Expiration Date”), and may not be exercised for a period of 6 month following the issue date. In the event Wave issues (i) its Class A common stock at an exercise price lower than the Exercise Price or (ii) securities convertible into shares of Wave’s Class A common stock with a conversion price that is less than the Exercise Price in certain capital raising transactions, then the Exercise Price of the warrants issued to each of MBFG and Agility shall be adjusted to such lower amount. In addition, if the gross revenue for Wave for any consecutive twelve (12) month period during the term of each warrant (the “Peak Annual Revenue”) is at least $12,000,000, MBFG and/or Agility, as applicable, may require Wave to purchase its warrant in an amount determined by multiplying the Peak Annual Revenue by five percent (5%). MBFG and Agility were also granted rights to participate in future equity offerings, subject to certain conditions.
The issuance of the securities in connection with the Facility were exempt from registration pursuant to Rule 506 of the Securities Act of 1933, as amended.
Although the foregoing documents were dated by the parties as of December 7, 2015, the parties did not release signatures and make the documents effective and binding until MBFG and Wave determined to fund the Facility on December 14, 2015.
The foregoing description of the Purchase Agreement is qualified in its entirety by reference to the full text of the Facility is qualified in its entirety by reference to the full text of the (i) Purchase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference and (ii) Addendum to Purchase Agreement, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the warrants issued to each of MBFG and Agility are qualified in their entirety by reference to the full text of the Form of Warrant which is filed as Exhibit 10.3 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the Validity Guaranty is qualified in its entirety by reference to the full text of the Validity Guaranty which is filed as Exhibit 10.4 to this Current Report on Form 8-K and is incorporated herein by reference.
Reading the terms it looks like they were in a horrible financial mess-notice how financing they acquired wan't enough to help them satisfy the convertible loan of 588K they had due in 15 days after this was announced! Obviously they had minimal PO coming in. Terms show they were receiving 80% of the PO with marble getting 20% Think that blows? Look at this quote from Solms in some article about this type of financing:
http://www.abladvisor.com/news/8411/wave-systems-secures-financing-agreement-from-marble-bridge-funding
"Closing on this financing agreement is an important development for Wave as it provides capital to help finance current operations and was an important condition for us to engage a firm to advise us on pursuing our strategic alternatives," said Bill Solms, President and CEO, Wave Systems Corp. "This type of financing facility is not new to Wave as the company factored its royalties from Dell for several years. Wave is continuing to pursue raising additional capital to meet our needs as required."
Notice several years....in additon to PP's and tapping the ATM and doing RS so they could repeat the process and expand the float all over again. The company was in the business of selling shares.
In the article J posted in their posts there is a comment from SKS about how he liked it better on the pink sheets..don't think he liked the shorts! Problem for him was the good news he liked to blow was a smoke screen and the shorts..well the reasons they pounded the hell out of the stock was because there wasn't anything there except the excuses and the omnipresent pipeline once the smoke cleared.
The players on margin got crushed because of the shorts. What people don't want to admit is that the shorts were enabled by the failures of those running the company in every aspect except selling tomorrow to the longs. The long term shareholders might not like it. When you are buying something that isn't there and the stock gets inflated on hope, words and posts it made it ripe for what happened. The short play was the right play. Its about investing. They were the ones playing on the level playing field making very clear decisions because they were able to focus on the functioning company in the here and now. Dependent only on the company
The dependency on the other companies to bring the product along and the bet on ubiquity was crippling
"This is one investment that will require strong faith & patience of which will be tested many times, but I believe the long term rewards should far outweigh anything else in between."
"Options trading on Wave could be one of the reasons the stock is being held down.
It will be much cheaper buying the $25 calls on Friday if the stock is $18-$19 then if the stock is $22-$25."
"Occasionally, one of the "boys" (Tom or David Gardner, founders of Motley Fool) comes to a board and makes assessments, corrections, or comments. I read several months ago that they are very aware of WAVX and are possibly shareholders. I stress this is only what I read (on a board at SI) and it is ONLY a RUMOR. Would it be seemly to email them and ask them to comment on WAVX here? IF they are aware, and IF they are interested, their comments could be compelling to new investors here at MF....thoughts? "
"The shorts showed up the week before relisting and something tells me they showed up the week before Mega-News-Complex hits the street.
It is too bad that they made a killing shorting from $23 to $12 and we went right back on covering to $27.
I am certain this pattern was replayed at $24. If we get market order short sales and then panic selling and stops kicked out in the AM it will be deja vu.
Then they will cover as big money comes back in and we go back up to the 20s.
If we stay low then the play will be to load up on the calls for the next wave up.
It just irks my sense of justice and fair play when thereis such obvious manipulation. "
"The continuing efforts to launch e-cash and microtransactions just shows how much of a need exists. Maybe now with the N*Able/Wave relationship, Compaq will have the technology that finally clicks."
" There was a strong spike in volume in the low 14's which is an indication of strength. I personaly feel that this market may have reached support based on the spike. This was pure margin selling where tens of thousnds of shares were dumped at the market. The fact that some short players came in and covered at 14.5 help to give us some support. One player btrd was selling at 17 7/8 and 17 3/8 came in and cought about 5 thousand shares at 14.50 today. Nice trade on his part. As far as margin goes every house is diffrent. Every time I saw wave falling (which seemed alot lately) I lightend up my position a bit to avoid a call. Still have a little buying power and an ulser. Last time we bounced to 27 off 12.5. With the right news hopefully we can bounce back into the 20's. Hey weve all seen wave go up 15 points in three days. Lets hope it happens again for all are sakes..."
"Just a tip of the hat to the faithful, oh-you-know-who-you-are and forgive me if I didn't give you billing here.
Anyway, if you're a new follower of WAVX, you rarely will find a more thoughtful, intelligent, and articulate group of posters on a stock thread.
As someone once said, Peter Sprague has to read the bulletin boards to find out what Wave's doing next!
The tenacity, technical prowess, convergent and divergent thinking generated here never cease to amaze me. Others must agree, as so many have been willing to SLOG (there's that word again) through the trite, the insulting, and the downright false posts that at which slammers are so prolific.
They can't keep this board down. Yahoo went to heck, we ran to RB. RB died, now we're here. Finding links, emailing reporters and analysts, attending meetings, beta testing the products, sleuthing.
Anyway, before I get too misty, I just want to say thanks to the regulars.If you're new to this board, you'll see what I mean soon enough."
" I think it will happen again. The MM's are trying like crazy to get the stock down under 15 if they can before this Friday. They will even settle for 14 and 31/32nds or anything that will let them be under 15 and make options expire worthless.
I predict that come Monday the price will once again be upward bound. This week is the week to pick up more stock if you can"
"If the money chip is in the cpq computer, I would imagine a bunch of bundled content ie: music games and movies (if equiped with dvd) will be included. Although the movies may be ahead of there time. I can imagine with circuit city dropping out of that server side dvd movie rental/purchase option it should be easy to line up those content providers."
The tsunami is out there and comming. It just takes some time for it to get to shore.
The stock is not doing bad. This baby is going to be big, and if you can't stand to see it dip once in a while, then leave.
FocusLP, I am extremely long and have been for close to three years now.
Everything is finally coming together and yes, I expect MEGA NEWS coming in the next few months.
The stock will go up and down, no doubt about it, but I will not be trading the stock.
I will wait patiently, like I did for two years while it vacillated between $2.50 and $4.50.
Right now we are in a trading range of $15.00 to $22.50. Once we break our highs, we will continue up the path to higher prices.
I waited for over two years to go to $4.50. I can surely wait another year to go to $100.00.
Let the fear mongers talk all they want, it is a losing battle in my opinion.
If we have the right patents, the right partners and the money, nothing is going to stop us,nothing.
Sitting back and relaxing while the slammers are slamming.
"Hi Guys - attended SF luncheon and have read the fine reports by others on this thread. I really can't add anything substantial to what has been posted aside from the fact that having seen Steven address a crowd on three occasions now I can rate his performance.
At the risk of sounding effusive, Steven has got a dynamic message and the depth of his knowledge is impressive. He never skipped a beat and bspears analogy of the fire hose is very fitting. It is difficult to grasp the full scope of Wave's business plan. I say this having been an investor for 2.5 years - so it may take some time for the analysts to process all they heard. I also noticed some analysts asking for Steven to meet with them privately and overheard that they plan to be back in the bay area next week.
They only time I noticed Steven showing some frustration was when one person asked about revenues and afterward in speaking about stock price related matters. He clearly states he will not risk achieving his deployment goals in order to prop up revenues prematurely. The stock price interests him but there is no stock price without deployment.
He gave the illustration of a horizontal broad based network being established then treating each individual on that network as a vertical marketing opportunity. He does not want to truncate the broadness of the base for short term gains.
Some of us share Stevens frustration with the obsessive stock price infatuation by investors. He is not really asking for patience, just an understanding of the ramifications of approaching this venture in its totality.
Steven has great energy and vision without any hype.
Let's follow the leader."
" net sales to hit one trillion by 2003. so what would our cut be? it won't fit on my calculator.."
"The need for new financing is nothing to worry about. And the need is not a sure thing yet.
Wave has several ways to raise capital.
1. N*Able may be profitable sooner than we know. They may already be profitable. Wave may have bought cash flow from an ongoing, profitable venture.
2. Wave may sell other licenses. ITG was licensed for one part of the world. I believe there are other parts that are uncommanded by a licensee at this time. Maybe someone can fill in the details here.
3. The recent additions of MyPublish, Wave-Direct and other sites that work without hardware will begin to create revenues.
4. Additional financing may come in a non-dilutive form such as a lending facility.
5. IPO of 20% of inTelecast. Need I say more?
If Wave ends up going to the equity markets, it will probably be positioned for partner investments. I doubt we will see another offering like the last.
With all that is going on, including possible new avenues that we don't know about such as new technology, my guess is that the flow of announcements continues at the same rate. Wave will never go back to being the company it was one year ago.
Finally, watch shortly for set-top boxes. Revenue may be right around the corner! "
"
Boston Roadshow Notes
Sorry for the delay; I had a commitment tonight. I have not had time to go through the 200+
posts, so their will likely be redundant info here. I am posting only info that I think is new or
very interesting. The info is in no particular order.
I counted 44 people at the presentation, including 7-8 Wavoids. Several more came in after
I counted, and the hotel had to set up another table to handle the unexpected guests.
There were no badges, so it was difficult to determine the affiliation of the analysts. I did
overhear one woman say she was from Goldman Sachs.
Steven did an outstanding job, although I would have preferred that he emphasize the basics
and hit the patent advantages. I would also have skipped the Hauppage/golf demo: it was
confusing even for Wavoids to follow.
Steven:
Major Embassy volume early next year (~late Q1).
There will be NO PCs with Embassy on the motherboards for this Christmas season!
"It will be a peripheral Christmas." [See my notes below on the delayed chips from ITE and
SMSC, which I feel are the likely cause for the motherboard slip.]
inTellicast will begin alpha testing this August.
Wave has more opportunities than it can handle. N*Able adds critically needed resources,
in addition to technology. N*Ables core is Embassy compatible and cuts 9 months off the
development schedule.
We will be in CPQ PCs, but only in the keyboard [not sure how fast data can be
pushed through a keyboard connector and cable, but it can't be very high: serial port!]
Wave is working closely with IBM, who will not announce anything until a product is ready to
ship.
Game vendors are willing to develop exclusive Wave-based games for volumes as low as
0.5-1 M units.
There is no problem ramping up the back office as volume grows. The number of bits
required per transaction is quite low, the operation is outsourced, and there are plenty of
data processing houses begging for work.
Wave is/will forego quick revenues in order to secure content providers and partners. Once a
critical mass is reached then revenue will be turned on.
Our valuation should be between that of Yahoo and AOL.
Key PC OEMs are working on Embassy motherboards now. However, they are wary of
battery-backed silicon (i.e., non FLASH), and prefer Atmel technology.
ITE has had problems with its foundry, whose logic/FLASH process can't deliver what the
foundry originally expected it could. Furthermore, ITE is using its own processor, rather than
the preferred ARM processor. Note: N*Able uses the ARM processor.
SMSC: if I heard Steven correctly it sounds as though SMSC is hesitant to go to fab. This is
a surprise because I was under the impression that SMSC had large customer demand for
the Embassy chip. Can anyone clarify this?
Steven notes that "Wave is an annoying customer" to the silicon vendors. They are trying to
achieve 50 Mb/s I/Os, as opposed to ~115 kb/s for Smartcard technolgy. The higher speed
is required to do on-the-fly encryption/decryption.
I get the feeling that Wave is relieved at having Atmel and N*Able technology to implement
Embassy, as opposed to relying on ITE and SMSC. We should see the results of the
attempt to program Embassy on N*Able's processor in about 2 weeks. Perhaps this is one
reason that WAve now feels confident enough to gear up the PR machine.
[As an IC engineer I know that combining a CMOS logic process with a FLASH process is
difficult and results in process tradeoffs. The complexity of the process also means that it
trails the logic-only process by 1-2 generations. However, I/O speeds of 50 Mb/s were
achieved years ago in a logic-only process. Hence, I'm uncomfortable with the lack of results
at ITE and SMSC. Furthermore, a logic/FLASH process is the only way to achieve the
density necessary for a "$5" chip. Atmel's technology will result in a much larger chip. If
anyone has more info on this situation I would appreciate hearing it. This is the only cloud on
the Wave horizen for me.]
Secure VPNs look to be a big application for Embassy. An example is secure email for a
group that is spread out geographically. Steven gave an even simpler example of a 2-point
secure VPN: You have a video monitor in your child's room, and want to keep tabs on him
(and the babysitter) while you're at work. Clearly you don't want the rest of the office to see
your kid running around naked. Solution: an Embassy chip in the video camera and your
PC to secure the link.
Embassy can be used as a V-chip to control the rating, time, and duration of the programs
your kids watch on TV.
I got the strong impression that many network "appliances" will have Embassy chips in them,
and that eventually there will be far more than one Embassy chip per person on average.
In short, a great presentation, high confidence in the management team, but the Embassy
delay will probably result in a slower stock price appreciation than many had expected. "
"Wave knows me by my password and my credit card #s
Right now I have separate accounts with the chip and the great stuff network, but in the future, I'm sure they will be able to reconcile the account into a single database so when I type in my password it can read my various accounts the same way my e-trade account has linked my trading and IRA accounts.
Just got some friends to buy more and one new after showing them how it worked. Now I have 24 hours to play the trophy game tomorrow.
Hope the above helps a little. My take is that it's a no problem issue that will be worked out. If it's a problem, it means people are multiply installing and using the chip so it aint a problem"
"After using Wave Direct, I assume that if you had several chips on one PC from periphals/motherboard and also other wave enabled devices in your name on other boxes (STB, portables etc.) all billing to the same credit card account that the at least monthly Wave Net reconciliation process would bring all of them up to date. I admit it does get confusing when you think about adding and deducting from your account. However, from what I can figure it can be done. Seems like there is potential for misuse and fraud of some money , but I guess the loss is limited because of the reconciliation once a month.
I was wondering why my PC connects to Wave Direct when I try to use a wace enabled CD now even when I have money in the account on my chip. I use a cable modem so it is automatic. I was wondering if the same is done if you have a telephone connection. Can anyone tell me? I thought once money was in the account it was not necessary. I assume it does this to reconcile first. I am not sure.
I have not heard whether or not did not Wave intends to share revenue with periphal dealers (ex. Haup, actiontec, Plllex, dongles etc. ) or just box makers. It would seem like they would. Splitting the revenue ten becomes more difficult and less profitable to these manufacturers if they all split a fix percentage.
I would like to get more info on this as it has alsways been a question I had. "
"I'm understanding it goes sompn' like this:
56% to Content provider
11% to PC or Board OEM
4% to Distribution Partners
4% to Technological Partners
25% to Wave "
"Don't know if these were already covered but I found these two points very interesting. Steven was saying that a smart card could store "keys" (my decription) and each "key" basically would unlock a service or software that you have the rights to since you've either paid for it in full or you've paid your montly subsription. The two examples he used with this is that lets say you pay to subscribe to the Playboy channel (his example, not mine!) at home. Then you go away on business and the hotel you are staying at does not offer the Playboy channel through their STB. Using your smart card, you could tell the STB that you have the right to view the Playboy channel thus allowing the Hotel to offer services custom to their guests. This is great because the services travel with you. You pay per month for cable but it dosen't go with you. It will soon!
The other great thing was that he said AOL could easily get involved with online music without having to build any infrastructure. They could simply offer it along with thier service which you pay a montly subscription fee. Then your smart card would store the fact that you have access to online music, at some other site, because your montly AOL fees have been paid up. Imagine that! I can offer you services and get paid for it without having to really do anything as far as programming or hardware are concerned. All I have to do is strike a deal with someone who has already done the work and BAMM!!! Instant success.
Now who out there still wants to sell?"
This is really going to be interesting. I agree with some posters who say it could have been nothing more than access that corrupted and in that interpreting things in a more positive manner than intended. If there was something that needed clarification, those that could remained silent, and thereby complicit.
Those folks were so blinded by those who had serious, legitimate concerns that they could not separate those from the yahoos that
that came from later group were reactionary..they don't have to like that but it's the truth. It was the die hards that always piled on when the truthiness veered from the fable that they felt was theirs and they were going to do everything in their power to keep it that way. Hence blocking posters, eliminating what they felt was not steering the discourse in a way they found agreeable, not the group. And as always greeted with a if you don't like it leave, you need a vacation from posting, you should sell your stock if you feel this way.
All of these look incredibly suspect in light of what has gone down.
The "bashers" as they have been labelled turns out were wrongly named. "Seers" is more apt. The "pumperatti" well ..that is the moniker that fits like a glove.
Numbers don't lie, posters should never be banned. A company that produces will shut those arguments down. Those that continue in that fashion against results will be the ones looking foolish.
Looks like Blue's favorite Sasha is on there too..
In the market cap notice released last August the Feb. 8th date was listed as the date for compliance. This will probably be the nail in the coffin on the trading that was happening.
Not on this board. There was someone who posted as him. I came across one post and then saw the other 4 posts that imposter had on the other boards on this site. .. raging bull history is wiped clean. Best bet would be sillicon investor. Or motley fool board. MF was a real trip to look thru again
Micro, here is a good one. They have a patent on sed that they acquired for a cool million and don't have a lawyer check on it. Yet when we all bitched about the lack of insiders buying the lawyers were all over that because of the conflict with buying around news. Give me an effing break already.