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24601..."I think this proxy deserves lots of negative feedback.If I were voting today,I'd vote NO on everything."
Couldn't agree with you more!
Sincerely,
Jas
24601...re Proxy...have you reached a decision as to how you will vote? If you don't want to disclose that info in this forum...that's fine.
Sincerely,
Jas
Obsereriiii...amazing post...your first line is "can we leave the subject of Proxies alone?"....then your last sentence is "I am voting for SKS period!"......I've got just one question for you...what ever happened to leave the subject of Proxies alone?
Sincerely,
Jas
Doma...re plan...sorry...I gave you the wrong post number...try post # 143018
Sincerely,
Jas
Doma...re alt plan...look at message number 143005
Sincerely,
Jas
Snackman...re your list...that's fine...they have the right to do what they want with their shares. The list only has significance to those who have considered themselves part of the Wavoid community....BTW...I thought you had posted on a number of occasions that if SKS did NOT change the individual options cap number...that you would vote NO!....Has SKS changed his mind?
Sincerely,
Jas
Snackman...re List..The purpose of the LIST is simple...to remind everyone that the people against the proxy are not some yahoos...but rather longtime supporters of the company. There are significant shares out there whose owners have SERIOUS concerns...simple as that.
Sincerely,
Jas
Zen...You've left out AWK from your list...possibly 24601
Sincerely,
Jas
Julesg..."you're ignoring the use of software based encryption. The notebooks are not unprotected." I think the vast majority of notebooks from fortune 500 companies that have been lost or stolen had software encryption. All the data that was on the respective laptop was not encrypted for what ever reason. These have been the findings by various studies over the past 12 months. If software only encryption was enough...why is it that the ONLY way a company can avoid a CNN moment (CNN moment is when an officer comes in front of the TV reporters and says something like....we have eperienced the theft of a number of laptops which potentially could compromise the data of a few milion of our clients/customers....we are VERY sorry for the inconvenience and aredoing everything in our power to limit the potential damage.) is to have a FDE.2 hard drive in CONJUNCTION with Waves software. If software only encryption was just as good or nearly as reliable....they would also be excluded from publicly acknowledging the loss of personal data.
Sincerely,
Jas
julesg..."loss of data from hard drive failure happens several orders of magnitude more often than loss or theft of a laptop" Excuse me for budding in...but you're comparing apples ith oranges. The DIFFERENCE is that if your hard drive fails...you have not COMPROMISED anyones personal data....if your laptop is stolen....you've now potentially compromised ALL the data that was on your laptop to someone who may the misuse that info. The corporate liability for the later is potentially in the millions of dollars per lost or stolen laptop.
Sincerely,
Jas
Vader...re chart...Weren't you the one that said your chips are with SKS and Feeny? Since the option plan became public....there has NOT been HUGE trading sell offs. The trading volume has actually been on the low to moderate side....not exactly anything to get overly concerned about...IMHO
Sincerely,
Jas
Akua7 re recruiting...If you were a candidate...would you take 50K options in a company whose stock may increase 20-30% over 12-24 months...or would you take 10K shares in a company whose share price could rise 1000% over the same time period?
Sincerely,
Jas
Good morning 1260...re Blueprint....Thanks for posting the blueprint. Have we seen anything on your list? Seriously...the NO votes will NOT vanish THIS time. If Snackman is correct in how the votes will be tabulated...then I'm somewhat encouraged at the possibility of DEFEATING the current proposals. Let management come back to us with a REASONABLE request and they will have their option plan as well as an increase in the individual options cap. We have been warned that the DEFEAT of these proposals will somehow interfere with the next PP round. We have been warned that the DEFEAT of these proposals will somehow interfere with the companys ability to attract and retain qualified employees. What is unbelievable is that all these horrible outcomes will take place in the next 3-5 months. Does anyone truly BELIEVE these doomsday prophecies?
Potential compromises:
1`) Option pool should not exceed 25% of the total float.
2) Individual option cap should not exceed 250K-300K shares UNTIL such time that the company generates EARNINGS...not just break even status. After that time...we can re-address the issue of further raising the individual cap.
3) Actively recruit replacements for the BOD.
I'm sure that if the proxy had comeout with the above numbers...the YES vote would be much higher than the current totals...IMHO
Sincerely,
Jas
Mayer....The "We" was used in a generic form. It was a term to describe our community. Where did I exclude Barge from the Wavoid community? Regarding being a spokeperson...Have I EVER declared myself to be a leader of this community? NO. I have supported this company for TEN years...Over that period in time have I EVER declared that I speak for anyone else??? I have my opinions about various topics...just as everyone else does. In regards to the upcoming proxy vote...it is MY opinion that these motions should be defeated. I believe that the number of options as it relates to the number of shares in the float is WAY TOO MUCH. I believe that the 500,000 figure as an individual cap is ALSO way too much. Furthermore...I believe that WE(members of the wavoid community) would be better served with a NEW BOD. We (members of this community) have the right to voice our approval or disapproval regarding various parts of our investment....I have done nothing less. If you or anyone else has a problem with this...TOO BAD~!
Sincerely,
Jas
Helpfulbacteria....re BOD...Your vision is the EXACT vision I have for our BOD. It's absolutely mind numbing that some of us don't expect anything more out of the BOD than being a RUBBER STAMP.
Sincerely,
Jas
Barge and the REST of the stick your heads in the sand crowd....
1) The NY times did an article on this strange phenomena known as the Wavoid Community.
2) This WAVOID COMMUNITY has single handedly allowed the company to exist over the last decade.
3) This WAVOID COMMUNITY has continued to support this stock by accumulationg VERY LARGE positions when members of the BOD ...outside of George Gilder... have decided not to risk ANY of their own money.
4) We are MUCH MORE than a loose confederation of individual investors. We are the WAVOID COMMUNITY....we are each individual members of a GROUP that has stood by and supported this company....We DESERVE to have our representation on the BOD...end of discussion! If you and the rest of your gang have a different opinion...that's fine...it's your right to be WRONG!
Sincerely or not,
Jas
Carl...re shooting ourselves in the foot. Actually...the reason I'm so interested in this years vote has to do with the manner in which the votes are going to be tabulated this year. In prior years, I was under the impression that a share that did not submit a vote would automatically be counted as a YES vote on any proposal. From what ISPRO posted the other day...it seems to contradict that notion. Lets face it...our BOD has a lot of dead wood on it. You were at last years SHM....how did you feel when a member of the board gave the opening remarks. I don't know about you...but I was ashamed that we could not find anyone better to communicate to the shareholders. It was PATHETIC! How does it make you feel that you were denied a representative? If we had a TRUE rep on the BOD...do you truly believe that this proxy would have made it out in the manner it was submitted? They would have been aware of the negative reaction such a proxy would create amongst the members of the Wavoid Institution. This entire fiasco could have been avoided!!!
Sincerely,
Jas
Snackman..."Maybe we should fire SKS and Lark too and bring in a whole new team, just before lift off." Snackman...you really need to re-read what you just posted. Where have I EVER said that SKS or Lark should be terminated? I don't know what's going on...but you really need to take a deep breath. The issue of the BOD is a REAL issue...you of ALL people know that I'm right regarding our lack of representation on the BOD. We as a collective group represent ~25% of the total float. WE DESERVE A SEAT ON THE BOD!
Sincerely,
Jas
Snackman...re nothing else to talk about..I would disagree....yesterday I requested that you place a new survey up regarding the BOD....as far as I can tell...you have ignored my post. I would suggest that the BOD issue is a very VALID issue to discuss at this time.
Sincerely,
Jas
re BOD...I assume you've heard of Carl Ichon? He will take a position of 5-10% of the shares of a company and then turn around and DEMAND a seat or two for his cronies on the respective BOD. We as a group represent ~25% of the float....any reason why the Wavoid community should be denied a seat on the BOD? BTW..if we had a seat on the BOD who represented THIS institution...do you truly believe that this proxy would have seen the light of day?
Sincerely,
Jas
Snackman....re survey....Why don't you put up another survey...topic....BOD...should they be terminated and new blood brought into the BOD?
Sincerely,
Jas
Snackman....re the last survey....In my opinion...you were WRONG in pulling that survey. The last time I checked last night...the NO vote was in the mid 70s. Although I'm sure the new survey will demonstrate that a number of votes may have changed...there will STILL be a rather significant NO contingent. Management has to ask themselves WHY such feelings exist among the most loyal and faithful investors. There are reasons for this sentiment....these feelings did not develop in a vacuum...BTW...my shares are STILL going to carry a NO vote! BTW...if anyone says ...if I don't trust management...then simply sell your shares? My reply is....did you buy shares today? I DID!
Sincerely,
Jas
Tampa....what the heck are you talking about....If you have failed to notice...I'm NOT voting in favor of the options plan. My post was directed at those who are infavor of the plan who are either threatening to sell their shares or are telling those of us opposed to the plan to sell our shares. Either way...I'll benefit because I'm buying at this time...FWIW
Sincerely,
Jas
Oknpv...for god sake...do you guys remember the quotes attributed to Tribdough (sp) from Seagate? He admitted that he did not want to know how we had kept the lights on. You people truly believe that this vote is going to sway a potential partner? If that was true...you people honestly think we would be in bed right now with the likes of DELL/SEAGATE/INTEL/ST MICRO/BROADCOM/ATMEL/etc....?
Sincerely,
Jas
re shares...For those of you out there who are tempted to sell because of the upcoming NO vote...please do so! I'm in the market for ADDITIONAL shares. Unlike some of you...I actually BELIEVE in the potential of this company. So ...if yo're going to sell....please do so...enough of this bellyaching!
In addition to the no votes on the option plan....maybe we should be voting NO regarding the BOD. Heck...I was under the impression that a non vote would be considered a yes vote by management. If however, they are only counting a majority of the submitted votes...then heck...we should get some NEW blood for our BOD! Maybe we need to remove some of the old dead wood and have a TRUE bod that looks after the interest of the shareholders.
Sincerely,
Jas
Ramsey...re option plan...lets look at the option plan another way....the previous plan had roughly 1/6th the number of potential shares(option pool) as it relates to the float. The new plan would have OVER 50% of potential shares (option pool) as it relates to the float. If the company only puts out 2-3 million options/year....then the original plan (numbers wise) would be fine for 2-3 YEARS. Lets assume that the company would need to hire a large number of people immediately....they could simply come back next year and ask for more. It's about time that we start to see some value on the bottom line as it pertains to sales BEFORE we start to think about compensations!
Sincerely,
Jas
Waverider..."If they distrust mangment so much, sell and get the hell out..." That's not a FAIR comment to make about those of us who aren't thrilled with the current proposal. Take a lok at the names of those who are in the NO category..these are people who have been loyal supporters of the company and mangement for OVER ten years. Additionally....these individuals have SUBSTANTIAL holdings of WAVX stock....this group of investors SHOULD be listened to occasionally...IMHO
Sincerely,
Jas
Snackman...re options....In 2006 there were north of 120 MILLION shares outstanding....and the INDIVIDUAL options cap was limited to 500,000 shares. If it was good enough with a much LARGER float in 2006...why should we TRIPPLE them now?
Sincerely,
Jas
Snackman...re shareholder sentiment....WHY would you take the survey down? Is it not an ACCURATE representation of the curent feelings within the Wavoid community? Managment needs to see those numbers EVERYDAY! May I remind you that even SKS suggested that IF we did not like or agree with the current proposals...to simply vote NO and the company will comeback with another proposal. If the SKS did not feel as though the sky would come falling down with a NO vote....why are some within this community fanning such flames? IF the company DOES feel that all hell will break loose regarding their day to day functioning (pp) then why not simply swallow the 150,000 dollars and re-submit the proposal? In the long run...it would be the BEST way to resolve this impass.
Sincerely,
Jas
Kev...regarding "diving" share price...now you do realize that the volume the last couple of sessions has been underwhelming....not exactly what I would describe as wholesale dumping. We're caught in the trading range that has plagued us for the past 6-12 months...FWIW
Sincerely,
Jas
Trustco....re stick it out....Humm...he does receive an annual salary not to mention a bonus and option grants....doesn't he? He's not sticking it out WITHOUT compensation..is he? Lets say that the stock gets to 10 dolars a share by the end of the year....just as an example....based on last years option package....in addition to his 500,000 dollars he received for his pay/bonus....he would also receive ~1.2MILLION dollars. Mind you that he will ALSO receive options this year and next year and the year after that etc...etc...etc... Therefore, if the stock appreciates....he will ALSO benefit handsomely!
Sincerely,
Jas
"He and his family so few founder shares because it has taken so long for this to happen".....EXCUSE ME??? Are you serious???
Sincerely,
Jas
Vader....re collective's desire for failure.....What on earth are you talking about??? Do you truly believe that if we vote NO on the current option plan... the Seagate products will not sell? Do you truly believe that most purchasing the new FDE will not also purchase Waves software to get the most out of their premium FDE purchases? These things have ALREADY been set in motion. Where the option plan would come into play is to help hiring additional employees to position us in the lead position for the mobile arena/ consumer applications/ waveXpress.....but these things will not generate revenues in the SHORT term....they will be necessary for the long term survival of the company.
Sincerely,
Jas
Survey....It might be an interesting survey to chart which investors are AGAINST the option plan and those who are FOR it. (Obviously....such a chart would take an investment of some time by the individual that tabulates the data. I believe such a chart would be very helpful to see how one sided the gut responses have been so far.)
My vote....NO!
Sincerely,
Jas
Unclevername....all one can say is...UNFRICKINBELIEVABLE!!
Sincerely,
Jas
Theguv....re Snackman...What's your problem? For your information...I asked Snackman to call SKS last night. He did not want to...I suggested to Snackman that as the "leader " of the wavoid community...he had an obligation to the community to contact SKS and let him know about our negative sentiment regarding the individual options cap in particular and the overall options package in general. Snackman has done this community a large favor....it's not right for you to diss him the way you did...IMHO
Sincerely,
Jas
Good evening everyone,
There are two points that we need to do some additional research on prior to arriving at a final decision regarding the upcoming vote.
1) The size of the options plan as it relates to the overall float. The management team is asking for an options pool roughly 50 % of the current float. How do other companies in a GROWING sector rank as far as their option plans. The tricky part in all this is attempting to find a similar size company (market cap) that is in a position to undergo tremendous growth over 12-36 months.
2) The individual options cap as it relates to the overall float. Is it normal for the high end of an options package to be close to 1% of the total float? Once again...it has to be in the high tech arena.
We need to delve into these two questions. Everyone knows that I'm not a very happy camper at this moment in time. I think there is way too much potential for abuse and given our history...some skepticism is warrented. Having said this...I also realize that management should have as many tools at their disposal to move the company forward. I can say that this is not the same company that I initially invested in over TEN YEARS ago. SKS/Lark/Berger have done an awsome job in re-inventing the company and positioning it where we find ourselves today. Have they made HUGE mistakes...YES...but they have also been able to position us at the brink of a HUGE potential payday.
We also need to examine WHY SKS has asked us to increase the options pool to the extent he has. The nay sayer will say that it is a PURE land grab attempt. Honestly, there is a part of me that honestly believes that. However, what if SKS feels that the company is now positioned for explosive growth and he will need all potential tools at his disposal to attract the best talent possible. I guess the question we all need to ask ourselves is the following....Is our objections to this new plan an example of being penny wise and pound foolish? If by spending more capital now means we attract the best available talent which allows the company to further distance itself from the competition...then would that not benefit us all over the long term. (Yes I do appreciate the rediculous phrase of long term and being invested for more than TEN YEARS ;-( )I guess the bottom line is will the three individuals that have received the most options over the past 5 years continue to increase their option totals...or will they do the right thing and save these options for the rank and file employees as well as those high profile individuals that he company may want to attract.
Sincerely,
Jas
Snackman...re Lark....What exactly do you think Lark saw in Waves potential 8-9 years ago when he joined the company from IBM? We are much closer to financial success than we have ever been....but Lark still came over during those uncertain times. He did not need those golden handcuffs...Listen...I have no problem with increasing the individual cap....BUT NOT AT THIS TIME. Lets get to break even FIRST. Heck...forget about break even...lets get to ONE million dollars in a quarter. Lets reward the current shareholders FIRST. Then come back to us with their request to increase the individual caps. Given our history with the Founders shares/ Feenys LOAN/ the SEC investigation....Do you truly blame some people who think this maybe nothing short of a land grab request by management? We're not the ones who have created this current environment....their GREED did. This is a HORRIBLE time to make the requests that they are making of the shareholders.
Sincerely,
Jas
Weets...re plan support...Why? I understand the reason to have a pool for employee options....but they're asking for ~50% of the total float. If you buy into the assumption that they do not intend to issue more than ~2 million options/year....that translates into a TEN year option plan. EXCUSE ME....BUT DO WE REALLY NEED TO HAVE ALL THESE SHARES SITTING OUT THERE??? Make the pool 20 % of the float...and if the company goes through these shares...come back to the shareholders with another request.
Having said the above....if management provides reasonable explanations as to WHY they need this OBSCENE amount of shares in their options pool....I may still seriously consider their request and possibly vote YES. However, their request to INCREASE the cap for INDIVIDUAL compensation by THREE FOLD is a NON-STARTER for this shareholder. There is NO justification for this part of the plan....IMHO
Sincerely,
Jas
Wash...re Options...I agree with you regarding using options to secure sought after employees....I have NO problem with increasing the number of shares for the option pool IF they will be used to reward the rank and file or recruit additional employees. What I DO have a problem with is the grotesque INCREASE in the number of options that can be granted to any individual on a yearly basis from ~166K to 500K. JUST TO BE CLEAR HERE....WE'RE NOT TALKING ABOUT DOLLARS BUT RATHER THE NUMBER OF SHARES. There is NO justification for this move at this moment in time.
Sincerely,
Jas