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Titlewave, I don't know how in the world you can make that connection regarding SKS getting voted out and a buyout.
Also, I don't believe for a second that SKS has been an impediment to signed deals etc.
You can't tell me that all of a sudden the BOD has turned on SKS and voted him out.
He wanted out and asked for this.
Question is why.
Also, if a company wanted to buy another company, who cares who the CEO is at the time of the buyout? Doesn't make sense.
MIG
Blue, I don't think that Q2 numbers are the ONLY way of measuring Wave's progress. Looking at the past isn't very helpful in determining if Wave will be successful as it may be for large well established companies in well established industries.
I try to think of Wave as a young athlete. While they may not have obtained great stats as of yet, their immense talent portends a future professional who may become a great and an inductee to the hall of fame.
What we are all waiting for is that day our athlete gets drafted to the pros. Then we shall see if they thrive or fail to live up to they hype. So far their minor league showings (GM, BASF, PWC etc.) have been promising. Absent a career ending injury, I think draft day will be within the next year.
MIG
Wonder how the COO search is coming? Starting to believe that was a line of crap.
MIG
Ok i'll bite, Since you know "exactly" what's going to happen, please....enlighten us.
Mig
Well at this price, I almost wish the company would be bought out just to end the pain. But if there is to be a buy out, I would not oppose it if it happened at a time when Wave was in a better position revenue wise and the purchase price was quite a bit higher than suggested.
MIG
I hope you are wrong. EOM
At this rate, Wave is going to need a 5:1 or more reverse split.
MIG
Alea, guess you decided to leave this piece out of the article....
"In a July whitepaper sponsored by Microsoft, researchers at IDC concluded that for a partner organization with 50 employees and $5 million to $10 million in revenues, the gold competency benefits were worth about $320,000. IDC singled out $125,000 for internal use rights, $83,000 for the included MSDN subscriptions and $37,500 for the Partner Learning Center.
In hindsight, the whitepaper looks like an effort by Microsoft to soften up the channel for a price hike. Nonetheless, we've previously called out the cost-to-benefit ratio of a gold competency as one of the best program deals in the channel at $3,800. The new value calculation will no longer work for some partners at the margins, although holding the silver competency and Small Business gold competency fees steady gives them a place to turn. For partners already in gold or considering gold, though, an additional $1,460 doesn't seem like it will change the overall ROI by much."
Might be the best investment Wave has ever made! LOL
MIG
Will someone put some lipstick on this pig? LOL EOM
And didn't SKS just respond to an investor the other day that Wave's goal was not to have to go through a reverse split?!! Funny, I think he should make that his goal, at least this way he can claim success on something.
MIG
The only thing amusing is your comment that this is a "non event." Oh, SKS, his family and the BOD are also amusing.
MIG
Nice news, but how much in revenue is this for Wave? These announcements don't help the share price without that info!!!!
MIG
Tkc, I voted no on several of them last year, rest assured i will do it again this year. This topic will be hot around here in a few months. I hope to God we vote a few out because they don't seem to retiring like sks hinted last time.
Mig
Return, I also sensed a bit of defensivness from SKS when asked about future dilution and how he was going to keep the lights on.
He essentially said, hey we do have revenue coming in and then went on to talk about the shelf, the ATM and the bi-polor situation he finds himself in whereby they are constably staring down the barrel of the gun in terms of money but yet quotes multimillion dollar deals.
Next to Frustration in the Dictionary should be "Wave Systems"
MIG
return, lets assume you are right, that the company is done. How does it end? Does Wave look for a buyer? At what price? When? Do they just issue a PR one day stating that the lights are being turned off?
IMO, that isn't going to happen. My gut tells me that SKS will sell as much stock and dilute the shareholders as much as he possibly can no matter the share price just to keep the company going.
The only way that will stop is either they are able to sell enough product to become self sufficient or they can no longer attract PP investors.
Total binary. I'm too heavily invested and underwater to sell it all now. My only hope is that the dilution dosen't have a huge impact on the future shareprice should the company achieve some success.
MIG
Down 14.5%, great job team. Hope scrambls was worth it. MIG
Great job Blue. Another terrible quarter. There isn't anything I can say that hasn't been said before about the dissapointment with this company and this CEO. Everything is apparently still "challenging."
MIG
Wow Blue, you really are down on this company! Its ok I understand why you would be but if that's how you truely feel then why continue to hold ANY shares?
Wouldn't you want to just cut your looses and move on with life?
I'm not bashing, I just can't for the life of me understand why you would continue to hold whatever shares you have yet spend the time you do ripping apart everything about this company.
Wouldn't it be less stressful to sell and play golf? LOL
I hope Wave can prove you wrong and you can get behind Wave again!!
Best,
MIG
As an addendum to my last post....if someone were to ask me if SKS should be replaced as CEO, that is a tough question for me. There is certainly the possiblity that he may be better suited as a CIO.
I don't think I would shed a tear if he stepped aside although I think technically he is very bright and would NEED to stay with the company..
I'm simply stating that his replacement may not be the cure to all of Wave's woes. I think it may be much more complicated than that.
MIG
I'm not going to take away from your critisim of SKS, he certainly deserves much of it....
But your posts rest on one BIG assumption and that is some other CEO can do a better job at growing Wave, winning contracts etc.
I've looked at this space as one where Wave has been too far ahead of the curve and it has been extremely difficult to change the entrenched ways IT departments have conducted business.
Its coming around IMO, but to assume that a new CEO would suddenly cause the flood gates of incoming orders to open is too simplistic in my view.
I read these posts to insinuat that the government and any other potential customer is witholding their purchase orders simply because SKS hasn't been able to make an accurate prediction on revenue. That's crazy to me.
Would a large company contemplating a large order be concerned as to whether Wave will be able to survive? Sure. But I'm not hearing that as a reason for the lack of orders.
I don't know....I agree SKS could have done a better job, but the company is where it is now. Assuming that replacing SKS is the silver bullet to this companies success just doesn't make sense to me.
MIG
Ummm, Allidinator, where is the PP announcement? Eom
Anyone want to come help shovel the 2ft+ of snow I'm about to receive? Mig
As much as I hate to admit it, the million plus share day and associted price rise is likely a new PP coming. I can't think of any other rational explaination for the huge increase in volume and the subsequent plunge.
Oh well, just another day as a Wave shareholder.
MIG
Then why isn't the stock at zero right now? EOM
And since I'm bored at the moment, for those with a negative outlook on Wave - what should I do?
I have a low average cost basis but I'm clearly in the red. Should I sell it all, take the loss and try to get back in at $3? $5? $8? should something positive happen?
I'm looking at this as I have a downside risk of $1.00. I could sell it all and wait for news to get back in, but lets say some news comes out and it goes to $5 and I bought back in at $5.
Unless I can get more money (doubtful), I will only be able to buy 20% of the shares I once owned, I would miss a $4/share gain and there would be no certainty that the stock will continue to appreciate enough so that I would have a gain as large with 80% less shares than I would have had I held.
The risk/reward just isn't there for me.
MIG
kis, the more I think about it, you are probably right and I guess therein lies the problem with investors like me. Its like the saying, those who don't learn from the past are doomed to repeat it.
I sure hope you are wrong. But lets go on the assumption that you are correct. You would argue "see they can't sell product so they need to goto the well again screwing the shareholders while SKS and family get fat."
There would surely be many many similar arguments and they would all be routed in truth and facts and they would raise very valid points.
I get it.
BUT, This space has taken YEARS to develop and I believe it continues to develop. I haven't seen Wave cut out of the game yet. I haven't seen a reason why Wave can't capitalize when (and yes if) TPM's etc begin to become wide spread. There isn't a day that goes by where there isn't some story of some company or government getting hacked. I continue to see progress in this space, of course its painfully slow.
I happen to believe that my hope is also based on truth and facts, just a different set than the set you use.
I can appreciate your position and I thank you for your view.
Either way, it will be very interesting to watch it all unfold.
MIG
Is that just a guess? Eom
Blue you are correct we don't know. We are both left to hope unfortantely. But if this company can start making real progress in terms of sales and revenue, I hope you become a strong ally of this stock and increase your holdings, although I compeletly understand why you would be hesitant to add to your position now.
Here is to hoping!
MIG
Such as? EOM
Somone does NOT want this stock to go up. 226,900 shares on the ask.
MIG
Nice 25k buy at $.999. Say what you want, but despite the consisent high percentage of shares shorted on a daily basis, the price is holding up very well. That's gotta mean something in light of the fact that there hasn't been significant news in some time.
MIG
I find it facinating that there is a strong contention that the lack of news etc is a sign that Wave is and will become a failure .
Yet despite that fact, the share price appears to be holding its own.
How can that be reconciled?
MIG
You know everyone has their own opinion on this stock and you either own shares or you don't.
The bottom line is that it all boils down to the individual. While I enjoy the counter arguments, for me individually, I just haven't been convinced yet that this company is dead in the water despite the past. Its as simple as that.
For others, they are completely convinced that this company is a total sham and its just a matter of time before it goes to zero. That is fine and I have no problem with that.
It just bugs me a little that there are posters on both sides of the fence that go to great lenghts to try to convince the other that their view is the right one.
That is especially true for those that argue that Wave will be going belly up soon but yet have no stake in the fire. If those arguments are going to be made, that is fine, then short the stock. If you don't have a stake, I can't understand the purpose behind the efforts, but then again, I'm not very smart.
MIG
Blue, I really like your posts. You make a compelling argument as to why noone should either own or buy this stock. I've also read many other compelling posts and information that make for a strong case that Wave can be sucsseful.
My burning question is that I own shares which is the reason I post, read and hang around.
Would it be safe for me to assume that you are short this stock?
If not, do you own any shares? If not, I'm curious as to your motive for your frequent posts.
I'm not bashing you, I really would like to understand your position.
Unlike some shareholders and as a lawyer, I enjoy arguments from both sides.
MIG
Returns, I agree that Scrambls certainly seems to have been in the shadows for a while now at least to us investors.
I was never a big fan of that venture but if Wave generates any revenue from it I will be absolutely stunned!
I think they are better off focusing on their core products and selling the crap out of em.
MIG
How in world would you possibly know that? Have Q4 numbers come out and I missed them?
Mig
Wavey, they may have raised money in Q4, I'll have to check but I thought it was Q3. Either way, its been several months and SKS said he hasn't been using the ATM.
I'm guessing that just because every order isn't PR'd with money attached to it does not mean that orders aren't being placed.
I mean, Apple does't put out a PR everytime someone buys an Ipad! LOL
We shall see!
MIG
Wildman, we all have made errors in life. SKS is NO exception. But I would hope we and he learn from those errors.
Not to defend SKS but I can't imagine it is easy to change an industry of giants and change the way business has been done for years and years.
I think SKS would be the first to admit he's made mistakes.
One of the questions you have to ask yourself is if you still believe in his ability to deliever despite those mistakes.
I say yes but I have to admit I've certainly struggled at times.
Sometimes it isn't the progress that SKS has made that instills confidence, its the progress and movement I see by others that gives me hope that this company can be a great success.
MIG
Blue, the risk I was talking about was the risk that I am taking not anyone else.
I'm not arguing about the share price or the reverse split...it's a fact and it is what it is. Do I like it? No. Do I wish it was a 3 for 1 split instead? Of course.
I and not arguing that SKS has made statements that haven't come true but if I'm willing to concede that point, you have to concede that there have been statements he's made that HAVE come true, although sometimes later than expected.
As far as MY risk/reward relationship....that one is easy....I just happen to continue to believe in what this company could become. That isn't to say that I simply ignore the bad things but I don't brush the potential and the postive signs I see under the rug just because there have been problems.
Hey, I have no problem if you don't see what I see. That's why we are different. If I was investing your money, you would have a right to be concerned, but rest assured it is my money.
We'll see what happens, but if it all goes south, at least I can say I hung in there, I did what I felt was right.
If I think it isn't going to happen, I have no problem selling all my shares. I've felt like doing that a few times but I still firmly believe this company could be a great success despite their troubled past.
MIG
I've watched a series on the History Channel called The Men Who Built America. Now first let me say I'm not in any way trying to draw a comparison between Vanderbilt, Rockafeller, Carnagie or J.P. Morgan with SKS.
But learning how those men risked everything to build what they saw as the future and the conviction to see it through despite the many hardships they encountered along the way and all the naysayers, is inspiring to me as a long time shareholder who has seen more bad times than good in this stock.
Real wealth does not come without real risk in my opinion. Is this stock risky? You bet your ass! Has SKS and company stumbled along the way? You bet your ass!
But I'm trying to have the same conviction to see what I believe to be the future come to fruition. It ain't easy!
MIG