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.
No problem TKC. It seems like there is still very little understanding, and very serious disregard for what actually impacts the shareholder. Continue being the voice of reason. I cannot believe what I am reading........
Notice the price barely moving? Lots o sellers. Gonna be interesting to see where the price goes when the dry powder that thinks its a deal at this price disappears.
More common shares now than 10 Q and even those numbers are goofy...
from the filing Friday
Only stockholders of record at the close of business on December [--], 2015 will be entitled to notice of, and to vote at, the Special Meeting. As of December [--], 2015, the Company had outstanding 60,821,141 shares of Class A Common Stock
and from the 10-Q
the 3 month filing number-
Three Months Ended September 30, 59,946,141
then this right next to it
Nine Months Ended September 30, 55,095,077
And you want to vote for a RS because you think you got a chance to recoup your cash?? Not a chance when I see stuff like that. There is no reason those numbers should not be the same since the ending date is exactly the same.
Blue it's unbelievable to me to still be reading this kind of stuff when the damn RS is only being done to satisfy the nas requirement. There is anything else that has changed in the organization. The Barron's article link I posted was pretty informative and that just covered company's that did 1 RS. Read the paragraph down at the end where it discusses the company's that did it to meet the nas requirement.
I will almost say it's a lock that if the RS goes down the remaining shareholders will be looking at a 50 to 75% loss share value if they don't get a meaningful revenue driver with days of it happening.
1-20 is the number longs better get acquainted with. The stock closed at .12. a 1-10 only puts you at 1.20. That would be knocked under a buck in two days tops. You need this RS to meet the 1.00 requirement. This does nothing to improve the bottom line. Without any sales coming in it won't hold. Hell the 1-20 might not hold more than a 10 trading days. The stock really cannot trade much lower than this before the RS goes through.
I've seen it all..the publication says that the real revenue figure is being held from the shareholders and if revealed the stock would shoot over a dollar!! Wow..... all I can say is wow......... says they should be broke by now with only 334K on hand with the number that was reported. One way around that is to delay paying salary, bills, etc selling receivables again...there are a number of ways to stretch that cash..cutting more employees for example....cutting all travel out....
High volume today..wavoids loading up to keep their sharecounts after the RS goes down....IMO
I feel fortunate that I wasn't privy to all that garbage. I stumbled upon the company by accident liked the concept and bought shares. But I never went all in because of the very reason you stated, the overt cheerleading never aligned with what was actually happening and then the treatment of those who didn't buy in made me feel something was amiss. I knew enough to rely on my own research and to not try and be swayed by the popular message. Same thing that got me out of the general market months before the housing crash. Funny thing..I stumbled across what Anthony Mazilla(sp) was doing while in charge of Countrywide, Dude was always selling stock every month. I noticed in July or August of 07 he sold nearly 3 times what he had moved in the months prior which covered well over a few years. I had also been reading about the mortgage swaps and just thought something looked off and I pulled everything off the table. I pilled everything into an Ameircan century bond fud and got damn near 11% return and went back into the market in late feb of 2009. Same reason I didn't panic as this has gone up..same reason I haven't bailed on this market yet.
Since one isn't privy to exactly what was said and if there was nothing material exchanged I really don't believe so. It has always raised a red flag for me that this sort of thing has gone on. Shareholders within that circle appreciate the contact...but it leaves those shareholders that do not participate on that forum out of the loop and it is to me improper at the very least, given so many avenues from which to engage the shareholders today...a message on the website under investors section would be a good place.
The article sites some companies that had success after a reverse split, but they all seemed to have an established business and did so to make the stock price more attractive prior to breaking up of a company. I am quite surenthe I results of a second or third RS would find results worse than the reported average.
"1,668 reverse splits done from 1972 to 2003. Many were of penny stocks seeking to stay above the $1 threshold needed to avoid delisting by Nasdaq. But without recapitalization, new management and a new business plan, Martell and Webb found, many were wasting their time. Martell argues that some firms might be better off delisting and trading over-the-counter until they divine their way back to health. "
A must read for all shareholders trying to make a decision on the rs.http://www.barrons.com/articles/SB50001424052702303389204576484341965875236
Some things never change. A.communique with an investment board shareholder yet again. Influence over other shareholders wanted to be curried by a long time trusted voice amongst then? Again not all investors on the boards, why leave them out of loop. Solms has Twitter account why not put it on it? Manipulating the message imo...
Shorts will take advantage of the weakest position this company has ever been in. Shrinking revenues, lowered employee count and a split investor base like no other time. How fitting it would be for those who argue for the rs to see the new share price fall by half and out of compluance....then what? On to the pinks which was makes the pro rs argument null. And 50% or more of value stripped away yet again.
The reverse split is a shorts dream. They have not had any opportunity to profit in this stock pretty much since it settled in this range. The rs is a gift for them. The shareholders are beating the drum for this to pass. It does not bring with it sales. The reasoning is the abillity to raise cash easier to continue as a going concern. Without it the shareholders fear pink sheets or even bankruptcy. The ratio is going to be large to gain nasdaq compliance. Without sales being announced soon after the shorts will crush the shares again. Will the shareholders continue to buy once a 1-20 type rs goes down? Why would one buy if no news is immediate? Buying just to support stock has been a very poor strategy. Without the shareholders supporting the stock there will no support. Think of the news flow. Delayed quarterly...no CC... compliance issues on two fronts..a third rs and no revenue news coming...where is the new money coming in from?
I beg to differ with you. I think that knowledge has been misguided as it concerned this investment. What is has done is given a group of posters an air of arrogance that has led them to very wrong conclusions about this company. It has robbed them of the ability to separate what was really important as it pertained to Wave as a going concern.
When those voices pushed out all others it really damaged the whole shareholder base because it muted the conversation to one hand clapping. The condescending way many spoke because some of us didn't have the grasp of the entire concept or didn't genuflect.
At the end of the day it's the lack of sales, the reliability of product and the truthiness and trustability of the players that many have questioned for years that have had a greater impact and not so much this great knowledge of the space of the products. And yea I was around for those product awards myself...paid for....the analysts coverage was bought and paid for too.
They can claim all they want, but the fact of the matter is that all those folks that have all that money invested are basically giving the green light-in the hopes that some miracle can occur-to a group of people that cannot file paperwork in a timely fashion. That from the looks of it, cannot get the options reported on the form correct if the other publication is correct.
Cannot correctly report something that is in their control.
A reverse split is not the answer. Not after 2 prior, not after all the dilution the shareholders have suffered. This is where the DD has utterly failed the shareholder. While it has enlightened knowledge on the space it neglected to vet what mattered most and that was the company. The conclusion reach by all was that the company would succeed by proxy. The truth is they are no closer now than they were when I bought my first shares at the turn of the century.
They have been terrible stewards of the investors cash. The group that is in place has had zero success as it translates to the investors, and frankly they have had zero success in making inroads in the space in a manner that takes them away from suckling at the shareholder teat. The RS on authorizes more of the same behavior. The questions that the investor needs to ask is why do they need more time? They have had nothing but time. Even if the RS passes, it doesn't improve the customer number. Without the customers it seems they are understaffed to service a large customer should one or more come on board.
It does nothing to improve the financial condition of the company and without any thing of substance shortly after it happens the price will drop yet again.
Other than a hail mary I can't think of any good reason to vote for another massive dilution of the shareholders. Not with signed contracts in place nor the same bad actors making decisions.
Seems that everyone on the publication information superhighways intersts are not aligned in the way some of the unassuming believe.
The ability to dilute the shares after a RS allows them the luxury of more of the same, more timeline. There is a group of shareholders that has over invested that is allowing fear of losing that investment to see what is going on yet again.
What? You mean do something that is in shareholder interest?? No way......The only time they reacted was when there was pushback from the shareholders. Reading the publication I see this "My opinion, for what it's worth (nothing) is to do what Wave wants to do.
We are already near zero, so if they think they have a way of returning something to the shareholders with an increase if share price, I am going along with management.
They know more than we do, and I believe they are doing everything they can to keep us viable."
Does that sound like any incentive to change the status quo?
How has the stewardship of the shareholders funds gone for the last twenty years?
The company has been given carte blanche to do whatever.........
Well the bar has been set "high" for the Christmas gift then.........
About splits on the other publication No record of a Sirius RS two forward ones if you are talking the radio stock. Other Sirius all on the pinks. Citi did do a 1 for 10 in 2013 shareholders still pissed but they also did 8 forward splits prior to that one and they had a successful business established. Voltari did have one reverse and it looks like it trades on the nas and the otc at the same time. Titanium Metals dosen't exist but there are a bunch of Titaniums listed with those in the US trading on the pinks.
I find it unbelievable if someone can produce a stock that has suffered through 3 RS-which dilutes the shares held prior to the first dillution by 240 if they go 1-20- that has gone on to be a success. I don't think it exists because I don't think there would have been a stock with a shareholder base that would have accepted nor put up with that. The only thing this accomplishes in my mind is to allow the shareholders to be strung out yet again.
Happy Thanksgiving everybody....especially those who saw this stock for what it was.
I think I might have to sellout my 466 share position. Thanks Solms. Your forcing my hand. Not worth the fee I will get accessed.
What it looks like to me is the final fleecing, the final picking at the carcass. Penny traders going to have fun here at the expense of some shareholders that only hold this stock.
Anything that on the surface seems harmful to shareholders of this company has always harmed the company. It has a pristine record as steady as the sun rising every morning and setting every evening.
Wake up shareholders, they took a crappy loan for a reason, the reason the quarterly results were delayed was because of some crap. They haven't scheduled a CC still and they hit you with the RS filing the day before a holiday. They have serious delisting issues looming and financial issues sooner than that.
If there was imminent good news some of the above would be different. It's not. To expect something otherwise is setting yourself up yet again.
Damn Blue how many times over the last year did we say this was coming? How much of all this crud that showed did we discuss. It's not like any of this was going on in the shadows. I guess it's easy to see when you aren't buried up to your eyebrows in shares. A 1 for 20 yowza 1/32 is what those shares before the first split be worth...
Let us also kill another rumor with this. If they were so important to Microsoft as other pyblications have speculated it would have made sense for cas rich mister softee to stepmin with an infusion instead of the onerous deal they made. Zero connection to microsoft imo.
Anyone who believes a bridge loan was done instead of a partner because of a perceived possible deal win is delusional.
1. The terms of the bridge loan were incredibly onerous.
2. This type of loan signals an incredibly financial weakness to other companies who may have done business with wave. Hypothetically speaking, seeing this bridge loan and terms may have caused potential customers to look in other directions.
This seems reactionary as if to justify staying invested.
There are reasons the product did not sell. The DD never addressed that. It labelled it as bashing. It labelled failure as conspiracy against the company. It labelled the periods of nothing as bidding our time is coming.
There is a body of evidence 4 times a year that paints a pretty dire picture.
I suspect to actually see a few days where the stock price does not crater and maybe even rise a penny or two as some shareholders await some sort of positive news. Once they see it's not coming- I am pretty sure there won't be a CC for last quarter-this thing is single digits next week.
As long as a group of shareholders still shows faith via the pursestrings its going to hang around. Penny stock traders will be the next to take advantage of this group.
Coal in the wavoid stocking would look better than this....Hate to think folks were actually expecting something positive after last weeks events.
"Due to the reasons set forth above, Wave's operating loss for the three months ended September 30, 2015 was approximately $2,588,000 as compared to $2,078,000 for the comparable period in 2014. "
Let this marinate for a minute......510K more than last year while everything was being slashed to the marrow.........
"As of November 11, 2015, approximately $1,016,000 in gross proceeds remains under the 2015 shelf registration statement. However, based on the price of Wave's common equity over the applicable 60 day period and the one-third rule computation, none of the remaining gross proceeds are available for future financings as of November 11, 2015."
So sad that an up day in this stock is now measured by some figure they don't even make a denominated currency to recognize.
I hope investors are not misreading the NAZ 180 day extension as foretelling good things are on the way. It is almost SOP that most companies are granted the extension.
Got it. I was reading about some companies getting some pretty big fines for violating SOX compliance.
Their auditor that left was on board through the end of quarter 10-Q . "On September 28, 2015, Wave Systems Corp. (the "Company") was notified by KPMG LLP ("KPMG") that the firm resigned as the Registrant's independent registered public accounting firm effective upon the Company filing its September 30, 2015 Form 10-Q. "
What gives...their auditor of record for the longest time was on board through the end of the quarter filing...and its f'd up.
Something does not look or smell right
Damn right that's the important part. It's the part that puts nail to coffin. If you were looking for security for your companies most important data would you entrust that to a company that does not have the resources to audit its own books for three month period. 48 days after that period closed? Even at the lowest under Sprague this never happened. Toast. Done finished.