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.
Jas,
The problem I have is that management knew all this and didn't raise enough funds in the last couple of financings to allow them to go to the small cap ans not do the reverse split. It, once again was a short sighted mistake by management.
Now, even if they do a reverse split, the stock takes a hit and IMHO, the financing is going to be at a significant discount from the market do to the risk. Any smart investor wouldn't invest in a company with a potential death spiral facing them without a SIGNIFICANT discount to assure a profit.
I think anyone who doesn't sell at the open is a fool. Get what you can and get out. You can buy back later at 2:00pm at a significant discount from the morning sell-off, IMHO.
Here is what I think will happen...
The stock will take a hit to about 60 cents in the first 15 minutes. Then, the bounce will come in, the stock will rebound to about 67 cents (where the buyers at 60 cents will sell). Then a steady decline the rest of the day to close somewhere between 55 and 60 cents. I think it could go as low at 50 cents tomorrow, intraday.
CPA
Jas,
The problem I have is that management knew all this and didn't raise enough funds in the last couple of financings to allow them to go to the small cap ans not do the reverse split. It, once again was a short sighted mistake by management.
Now, even if they do a reverse split, the stock takes a hit and IMHO, the financing is going to be at a significant discount from the market do to the risk. Any smart investor wouldn't invest in a company with a potential death spiral facing them without a SIGNIFICANT discount to assure a profit.
I think anyone who doesn't sell at the open is a fool. Get what you can and get out. You can buy back later at 2:00pm at a significant discount from the morning sell-off, IMHO.
Here is what I think will happen...
The stock will take a hit to about 60 cents in the first 15 minutes. Then, the bounce will come in, the stock will rebound to about 67 cents (where the buyers at 60 cents will sell). Then a steady decline the rest of the day to close somewhere between 55 and 60 cents. I think it could go as low at 50 cents tomorrow, intraday.
CPA
orda,
I believe the SEC prohibits insiders from buying or selling for 3 days from a press release. I'm not 100% on that, but I think it is the case. Doesn't matter if the news is good or bad.
CPA
So you are acknowledging that you think the shorts are going to hammer this thing and the price will drop so low that they won't meet the $50 million capital requirement.
Its a sad day.
CPA
cmf,
I take no pleasure in the pain that many are about to feel. I just got off the phone with one of them. Many a good person is going to lose alot of money. It's sad.
My only hope is the likes of snackman, doma, awk, wavxmaster and friends step up to the plate and buy the shares of those trying to get out. Anyone left in after this gets what they deserve.
I have no desire to say "I told you so" at this point in time.
CPA
Snackman,
What makes you think the institutions are going to buy when the little guy sells?
Do you REALLY think the institutions are allowed to buy a stock that is at 76 cents and is comptemplating a reverse split?
IMHO, it is going to be a blood bath Monday and Tuesday.
CPA
New Wave,
You forgot this part...
"This MOU is a non-binding expression of the parties' current intentions. Both parties hope to complete a definitive agreement by the end of the second quarter of this year."
10 business days left to the 1/4. Does anyone think they will get it done? I don't. If they could have, they would have. It would have supported their position with NASDAQ. It would have lessened the blow they are about to receive on Monday. DID SKS upset the apple cart once again?
At this point, I wouldn't hold by breath waiting for this announcement to come.
The death spiral has begun. Get out while you can.
CPA
New Wave,
You forgot this part...
"This MOU is a non-binding expression of the parties' current intentions. Both parties hope to complete a definitive agreement by the end of the second quarter of this year."
10 business days left to the 1/4. Does anyone think they will get it done? I don't. If they could have, they would have. It would have supported their position with NASDAQ. It would have lessened the blow they are about to receive on Monday. DID SKS upset the apple cart once again?
At this point, I wouldn't hold by breath waiting for this announcement to come.
The death spiral has begun. Get out while you can.
CPA
mundo,
I disagree. Maybe one of these companies wants to buy Wave out for next to nothing.
CPA
mundo,
Then why don't those companies invest in Wave?
CPA
bigtim,
You and I both know that the things (like revenue) that need to be in place for a reverse split to be successful are not in place for all to see in Wave's case. The likelyhood of this working in Wave's case is very slim.
CPA
jakes_dad,
For once, you and I agree on something.
CPA
The problem here is that 75% of stocks that do a reverse split do GO DOWN!!!!!
Do you like the odds at 75% chance to decline? I don't.
The shorters do.
CPA
Snackman,
So you think there was a conspiracy for the last 8 weeks? And, they were successful?
CPA
How does it take you out of compliance?
CPA
To all:
Here is the problem with a reverse stock split:
If they do a 1 for 3 or 1 for 4 reverse, the stock is going to have alot more room for the shorters. The shorters will smell the blood and attack. The stock will fall under enormous pressure and drop.
At that point, the stock may not meet the capitalization requirements and again not meet NASDAQ listing requirements. I've seen this before in other stocks. Not one of the ones that I've seen it in surrived.
I think this split is the worse thing that Wave could do.
If they need to raise funds, do it now while they are still listed. Raise $9 million instead of $4 million. That should be enough money to get them through based on the predictions by the longs.
I firmly believe that this reverse will mark the beginning of the end for Wave.
Many of you have said before, what's the big deal if Wave is delisted. If Wave is really going to survive, raise the money now, accept the delisting and in 6 months apply again when all the money starts to flow in.
The only reason I can think of as to why management doesn't do that is that they don't see significant revenue in that time frame and $9 million isn't enought to survive.
CPA
To all:
Here is the problem with a reverse stock split:
If they do a 1 for 3 or 1 for 4 reverse, the stock is going to have alot more room for the shorters. The shorters will smell the blood and attack. The stock will fall under enormous pressure and drop.
At that point, the stock may not meet the capitalization requirements and again not meet NASDAQ listing requirements. I've seen this before in other stocks. Not one of the ones that I've seen it in surrived.
I think this split is the worse thing that Wave could do.
If they need to raise funds, do it now while they are still listed. Raise $9 million instead of $4 million. That should be enough money to get them through based on the predictions by the longs.
I firmly believe that this reverse will mark the beginning of the end for Wave.
Many of you have said before, what's the big deal if Wave is delisted. If Wave is really going to survive, raise the money now, accept the delisting and in 6 months apply again when all the money starts to flow in.
The only reason I can think of as to why management doesn't do that is that they don't see significant revenue in that time frame and $9 million isn't enought to survive.
CPA
wavxmaster,
It's starting to look like Wave's chart.
CPA
greg,
Maybe. But can't Matt just come over here and delete posts that the other moderator complains about?
BTW, the post I stored here was not reinstated on the other board. Do you see a tos violiation in it? Maybe by stating that to believe something was "ignorant", Matt and the moderator say that as an attack. Who knows.
Maybe my post would stand without the "ignorant" part. MAybe I should try that.
CPA
greg,
The difference is that I've been around Wave since 1997 and used to be a long. It would upset the apple cart to have me banned. Too many people follow me and would look at a ban as a controlling move by the moderator. It would only support my position that they are blinded and unwilling to entertain other opinions.
CPA
Larry,
Can you intrepret for me? Does this show a minor uptrend or still in the major decline?
Thanks,
CPA
cmf,
I posed my last message on the Wave board. Deleted in an instant. Do you see a tos violiation there?
I posted it here too because I assumed he would delete it. He usually deletes my posts when I respond to him.
CPA
cmf,
Hearing is right about now. Decision, who knows.
CPA
Snackman,
I disagree with you that the street does not know about Wave. What about all those 40 million share days that Wave had?
What about the Intel, Dell, AMD, IBM, Gateway, EDS, HP announcements over the years. I think it is ignorant for anyone to believe that the street is unaware of Wave.
How many conferences has Wave attended over the years? I'd guess well in excess of 100. If that isn't enough, what is the number that you think they need to make the street aware?
I think many of the longs want to believe that the street isn't aware of Wave. That way, they can justify in their own minds why the stock hasn't gone up. Otherwise, how could the street be aware and not run up the stock? Could it be the street sees the reality of Wave where the longs are seeing it through rose colored glasses?
CPA
wavxmaster,
I follow it for the entertainment value. Where else can you get belly aching laughs for free?
CPA
wavxmaster,
I have no more a history of misrepresenting than you do. It all depends on which side of the fence you sit.
The one thing I find funny about the longs is their lack of seeing the other sides view point. At least I understand why you think like you do. Why the world looks sooooo rosey through those glasses.
CPA
p.s. It's called greed.
Vader,
The last trade was painted. It should have finished down.
BTW, if it is Wave related (like the stock price, trading patterns, etc...) I can post about it, whether you like what I have to say or not.
Maybe I think what you post is c..p. At least I ignore it. If you like, put me on ignore. You'll never have to read a post of mine again.
CPA
p.s. I doubt you'll do it, my posts are too good for you to skip.
rachelise,
Announcements can, and if significant, are required to be announced. Wave doesn't have to mention names. They can say something like this....Wave has signed a 2 million dollar contract with a fortune 500 company to provide xxxxxxxx over a two year period.
Companies do that all the time. If the contract is material (and almost any one would be), I believe they are required to disclose it by SEC regs.
CPA
cosmo,
How is it positive when blocks are trading and the share price was going down at the time?
Yes, someone was buying, but someone else was selling. If the price is on its way down, it means more are trying to sell than buy.
CPA
cosign,
Nothing at the moment.
CPA
jaybeaux,
You are speaking from your own point of view, which is fine. However, I do know people who read this board that believe some here are in the know. There is a history with some posters that prove this.
I personally KNOW FOR A FACT that some here a leaked information from various sources. I've been told things from these individuals before it has been made public. The accuracy of the things I've been told from these posters has been right on the money more than once.
So, when these same posters make insuations, it is believed by many. Maybe not you, but by many.
CPA
rachelise,
I agree that there is a difference between making something up and posting what you believe to be true.
However, what about the articles posed on this website about companies that have nothing to do with Wave. Are they meant to imply a connection? What about when they are posted by the board moderator? A person who is greatly repected by the longs and thought to be in the know by many.
Is that misleading? I for one think so.
My point in all this is that many of the longs are just as guilty of spreading false rumors as any basher. Also, the fact that there was/is an issue with anti-virus software does not make what was said a rumor. It was fact.
Do I think the person posting should have gone to Wave's website and look for the solution, yes I do. But they did not. It took Doma to do that and he came through in the clutch.
But asking someone who posts negative information to find the cure is like asking a long who posts positive information to look for the negative. Neither is going to happen.
CPA
Doma,
I agree with you. I'm not disagreeing with that point.
What I have the problem with is the insuiation that there have been repeated false rumors spread by bashers. I would like to know of which rumors he is refering to. Thats all.
CPA
awk,
Everyone here has an agenda, even you.
CPA
helpful,
Doma was very responsive with his post.
With that said, you make it sound like bashers go around posting false rumor after false rumor. Please, point me to two of these "rumors" and I'll shut up.
If you want to talk about spreading false rumors, I can point to hundreds of them over the years, including all the garbage circulated by the loop-group (you know of which I'm talking). So, please, don't talk to me about rumors.
CPA
greg,
I have to agree. However, to be fair, when I have a post deleted and I complain, it usually finds it way back on the board.
CPA
cosmo,
None to my knowledge. However, it should be in the next week or two.
The way I see it, it takes 4 to 6 weeks for the hearing (say 6 for arguement sake). That puts the hearing at last Tuesday. Two weeks for a decision puts it at next Tuesday. Wave is notified by Wednesday and we hear on Thursday the 22nd.
CPA
greg,
Funny though, you can mention deleted posts if you are slamming a "basher", or you are the moderator yourself.
I've seen him post "that post should be deleted, but I'll let it stand because it shows everyone what kind of person you really are" when refering to a post from me.
It's hypocracy and double standards, nothing short of it.
CPA
zen,
Are you sugesting that Seagate make the press release more about Wave then themselves? All hail the powerful Wave?
CPA
wavxmaster,
The stock finished down yesterday.
Looks like the press release didn't help!
CPA
)