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Almost 4 years since I last perused this board. A ghost town. For sure I thought there would be an eventual congregation of old investors that would return as time moved further from the demise of the company. Not to be. Hopefully time has found the real people who were invested on this board to be in good health and spirit. It appears there a far greater number of folks that took advantage of those on these boards.
Just wanted to wish any of the old faithful who stop by and check the board a very Merry Christmas and a healthy and Happy New Year with the weight of this incredibly horrid investment far in the rear view mirror for most I hope.
I had a response message to an old post I had just reading back through the history..and there are a ton of those posts that deserve to be answered with what has transpired since...there are people who were asking very salient questions at the time that went ignored or were rudely answered.
None of this matters ..This board is dead..the company died a slow painful death.
Those who benefited from the naive board members crawled away profiting.
I was hanging around to see if there would still be some meaningful exchanges and that does not seem to be the case.
Adieu to all
MMBG
While I continue to feel that there will be nothing left-not even crumbs-for the common shareholder the fillings did leave that door open a sliver. What does not make any sense to me is that a person who bought shares since the bankruptcy filing getting compensated in the same way as say somebody who was holding shares up until the original notice came. I get the buyer beware aspect, but those buying after the fact certainly had a higher knowledge of the inevitable downside once that event was triggered.
Golpe I was only going by what I had seen from other companies some time back when I was watching some stocks on the OTC. I am quite surprised it disappeared as fast as it did. That being said the companies that traded did not try and reorganize which is what seems to be the plan here after shearing and shedding the former shareholder base and probably hastened the removal of the shares from being listed.
More documents that go along with this
https://www.sec.gov/Archives/edgar/data/919013/000119312516695472/0001193125-16-695472-index.htm
So the shares are now officially worthless. The shares however will still continue to trade on the OTC for a period of time just because they can.
Blue I have said it before and I will say it again. I had some of those affected ask me if I wanted to be involved if there was any action against the company and I told them no. I did not buy any shares after 2004. I sold the shares that I held in 2005 or 2006 except for some that I held in another account which I had a sell order on and never check to see if it executed and discovered much to my chagrin in 2014 that I was still in possession of, that for all practical purpose was a turd, turned white with age. At the end of the day this equity cost me a loss of right around 8,000, Far more had I not reacted correctly to what smelled horribly going on with this company in the 04/05 time frame.
That $8,000 or so loss I can say without any reservation may have been the best money I have ever spent. The lessons I have learned watching this stock and the reactions of those that touted every bit of obtuse detail just lead me to dig deep to see if they could actually be correct. In every instance I came away believing that they were being mislead or were misleading others. It allowed me to really concentrate on what was really important and what really matter when it came to these stocks, and this equity failed every metric. From execution to unreliable information to the compensation aspect it was rotten from day one and the only thing that could be counted on was that there was an investor base with deep pockets and a naive view that were there to be taken advantage of time and time again.
Those very investors were the best friend the shorts ever had, and probably the easiest marks those that profited while masquerading as one of them ever had, and will ever have I've got to believe.
It has shaped the way I look at companies I may invest in. It has given me a path forward through mutual funds of all things and what I have found is that, while not only being a pretty damn good investment it has also freed up a ton of time that used to be spent trying to find the next big thing. The irony of that is just look at how well the markets have done over the last 7 years compared to this sinkhole. What a damn shame for these former shareholders....
2,365.20 is what all that volume cost if every share closed at the close. The people who were pulling the wavoids by the shorthairs used to spend far more to lure them in IMO. This is chump change to see if they can still lure some in, in addition to those that are just buying on whim. Obviously it still works
Unbelievable. You would think after so many PP where the gains were locked those folks would not be in need of cash. How in the hell are they going to handle not having the golden goose to fleece x amount of times every year going forward?? The got used to counting imaginary money and losing real cash..these folks actually got to feel the wad in their hands and have items around them they can touch bought with these gains....
Golpe there is nothing nefarious here. This is now in the wild wild west of the OTC. Anything goes. Player just posted what spells out there is no real value in the shares. Yet you continue to question. There are people out there who don't have access to that information. There us the romance of buying a couple of cents and making money if it just moves to a .25. There are many people who troll the penny stocks and just see green and buy without researching anything.
The information on what will become of these shares-like what Player posted is out there.
In the same fashion the horrible financial status was out there for every single investor in Wave Systems (rip) to make an honest appraisal and yet many investors chose for years to ignore what was easily accessible and they made many excuses as to why thiose numbers were wrong. From where I sit I see you engaging in the same thing at this very juncture.
The question that you ask are irrelevant given the information that was provided by Player and the indisputable truth that common shareholders are always at the very back of the line when it comes claims being paid.
To me if there were any losses in that quarter it can only reduce any value that those with claims are hoping to extract.
Without any lawsuit, those shareholders left holding shares are going to get nothing and it certainly does not seem to me that there is going to be any sort of action of this type.
These are the types of questions aimed at the actions of the company frankly would have served the shareholders better years ago when there was some value in it for them that could have been salvaged. Now it's just an exercise in futility.
No they have not changed. This is caught in the penny arcade now. You have neophyte stock traders looking to make a couple of pennies by churning and you have naive investors that are buying, some actually building positions thinking this might get to .10 so they can make a few hundred bucks. If you troll some penny stock boards you will hear chatter about these guys wanting to see stocks move .005 a share. That is really all there is to it.
I have read the board there...thats all i can do. I was booted from the site in total so thats why i know i hit a chord..i had to be the subject of all the pumperatti complaints for most part so i got flushed. I miss the convo with that group there because they were on the right side.but dont blame AB considering the amount of crap he put up with from that unsavory bunch of moneychangers.
Down and Out FWIW...I am aware of that new situation, but I must have been onto something that pissed off those that were perpetrating the scam because I was tossed from the site and thats why you have not seen me there and I can assure you it wasn't because of multiple alias. It surely was because I was getting at the core of why investors were being screwed and in that process those folks saw there easy money path being threatened... I think a lot of folks thought Blue had an axe to grind and could spin it that way. I believe those who did not lije what i had to say did not have a spin to attach to why I was so critical because I had no connection to anybody on the boards. I was just an investor that was very pro wave at one time who had their opinion swayed by what the company reported in the numbers and wouldnot be swayed by the group think..and that's why it was a threat to those deceiving pricks.
Cartoon, I tip my cap to you for coming out the other side after looking at those numbers.
I doubt anybody is looking for cheers here.
I cannot begin to tell you how livid just posting on this board over the years made me-especially the deletions.
Personally I never subscribed to this board. So may messages that had things to upset the apple cart based on what was being pulled from the SEC documents were posted that had some opinion with it was posted and quickly deleted. There were private messages the could not be replied to since I was not a subscriber. There were bans when you did not toe the line these folks wanted to tilt the perception to. That was why the other board on the other site was created and read the way it did. That backlash was because there was no other civil outlet for that discourse to take place.
The reason those boards were eliminated was because there were those who badgered the site administrator to the point that he did not want to have anything to do with wave anymore.
I gotta say that unless it can be proven to me otherwise..the loudest cheerleaders who controlled the boards and those who made it a point to dominate the conversation with tech talk and those who pumped the stock in the face of facts were probably rotten to the core.
I had plenty of posts removed for no good reason as did Blue..but I also believe that, while probably in the grey area, there was the slightest crossing of the line. What I believe Blue was alluding to was that, if you presented the case in a manner that could not be construed as having an agenda you were able to get those posts reinstated and that information was available.
I will state for the record that I did have many posts removed that I did not have the ability to challenge and those were the ones that probably hit way to close to home for the ones that were intent on screwing over the shareholder base and padding their pockets by trading on the wavoid reaction of buying more than they could afford.
All those heavy hitters that talked about stepping up to the plate and buying. Were they in on the scam or were they pawns in the game. The silence casts doubt on many who posted here that are now mute. As one who never associated with any shareholders I have no way to discern who was full of shit and who wasn't.
There was a reason poster were banned, it was because those doing the banning had an agenda not those who provided the contrarian view. The problem that Wavxwizard and other have is they are still clinging to the myth that there was something there. the problem is that last domino needs to fall to see there really wasn't anything there, at least not to the extent the hard core thought. I am convinced that just like Papa Ginos there had to be somebody who knew somebody that roped them into using the product--they did not get in based on their own merit. I will believe with my last breath that DELL bought in because they wanted to hedge with wave just in case,... when wave brought nothing of value to enhance sales they dropped the company as fast as a bad habit.
It's pretty fucked up that people that posted among those posters pretty much abused the trust of so many and basically separated them from their cash that I am sure many could not afford to lose, and did this for so many years. So many names have disappeared that posted for so many years. I would love to hear from some of those that departed from the boards in hopes that they have been able to move on. regardless of how many felt about some of us, I still managed to read most all the posts on all the boards and hope despair wasn't the reaction of some who have been silent for so long now.
I was going to add before I got pulled away, and my PM'er is exactly spot on is the grievance the shareholders have concerning the misreported money from DELL after DELL was already gone.
This is just another verification to me that those who questioned everything were the ones on to something.
The first mover advantage is the balsa wood found by the drowning man in the ocean after 25 hours. There is nothing to support the first mover advantage other than the words of other posters and those who I would never entrust any of my money to.
If this were true- the company would still be viable the company would have been bought out or the product would have been used by some of the companies who knew them best and those were the companies that comprised the TCG. None of this came close to happening.
That to me was one of the clearest signs the company was in trouble. They could not convert some of those members into clients. We were told they were high in the food chain of that group. If that were the case the forecast for the environment from they operated in and the path going forward should have been much clear and easier to forecast. Neither of those ever materialized. They continued on the path of obfuscation and letting the trusted shareholder base spell it out to the rank and file. The rejection of DELL was considered a small bump by the sprgue-taint tattoo crowd.
Those who worked in the industry that tried commenting here on the boards to report the feedback-which was often not good- were cast aside as having an agenda or an axe to grind....Let's be honest here, who REALLY had the agenda. Even if that agenda was not nefarious it biased a whole group of investors to a narrative that never was. Those who ran the company were rewarded handsomely, relative to what? Any argument one can make defending these me first, share holders eat cake folks cannot defend the fact that they were never upfront in their words to the shareholders.
I don't believe the risk to the shareholders capital time and time again was never explained to the extent that it really should have been when the voice of those within the company was heard. That was left buried in the lexicon of the SEC filings. They did however take every opportunity to talk about the opportunity and the reward for that opportunity which never came and excused every misstep they could by misdirecting it away from what was going on inside the company. The company was in deep financial trouble when Sprague was ousted and yet he was determined to get every last cent that he was owed. Even though he had it rigged so he received a bonus regardless of how the company performed. Even though given the the size and sales of the company he was compensated far greater than what the going rate was for a company doing those same sort of numbers. At the end of the day, there was no warning to those who supported the company so long through so much of his utter bullshit, deals in hand, floods, the over payment that was caught....and he offered nothing to the shareholders but a final fuck you as he collected what was owed him. And it isn't over because I think I saw his name lined up as a creditor in the lawsuit. He was paid handsomely for years and still felt he was owed something. The shareholders who ponied up for the entire existence of this company who piled more money than they could afford were never given the same opportunity. Three reverse splits which damaged their shareholder value. While Sprague can count his w-2's and compensation over the years that ran cumulatively with 8 digits and 2 commas, one will not be able to count the number of shareholders that will never and I repeat NEVER EVER get the chance to even write off the total value of their losses in their remaining lifetime.
The quarterly reports mattered because they gave the picture-the dire picture- of the state of the company. Your argument about the companies they were supposed to be involved with is a bogus false equivalent because they provided what amounted to zero to sustain wave in revenues as a going concern outside of DELL. DELL was the only name to pay attention to and this is the facts because when DELL pulled back the company was in effect dead.
What the shareholder don't like to see was that yes all those deals that had big names attached to amounted to nothing and I believe that the costs of all that was floated by wave.
The class action has a few problems IMO. The pipeline since it was never seen was reported by the former CEO who then had his claim refuted by the incoming CEO. Show me where there was anything material that had dollar signs attached to it and I will show you where there was a case. There was not. The reports filed with the SEC spelled out the warnings about the business every quarter which covered their asses. Anything that was said on these boards is not reliable. During the CC there was never anything solid-it was always couched, but the shareholders always ran wild with the nuggets that were released. Granted it was feel good speak for the numbers, but there is no liable in the fact the CEO said I think we might see breakeven in the next couple of quarters. He would often say there were deals in the works-those things fall apart. Did we ever hear of a contract being signed with legit numbers offered up? Never. I can recall questions being asked about trials and how much revenue was going to be brought in and the answer being I don't have that number right now,that's not something you can litigate.
Yes it was cut and dried for years. Go back and look at the statements. Go back and read the comments. A few years before DELL dried up but talked about renegotiating their royalty payment were started disecting the numbers and I felt certain the numbers were falling faster than the renegotiated deal would allow if they were moving the same product. Red Flag. The fact that they were selling receivables for cash under Sprague going back a few years was a huge red flag.
The first mover advantage was a smokescreen and the shareholders need to stop clinging to that narrative because if that was the case it should have been selling and it was not. The only revenue the company ever generated was by being inside DELLS box which guaranteed them payment. DELL cut bait on them when they realized they were paying for something that added zero value to their product line. Thats a fact. the lack of any sales anywhere to keep the company going backs that up.
Those who bet on this company and the CEO's running the show bet wrong, they bet wrong on the people they followed on the boards and they bet wrong by following those who claimed they knew the technology wrong wrong wrong.
Go back and reread the posters who use to argue numbers every quarter and how we were not clear on what those numbers meant. IMO those words pushed some in.... TKC Dig Unclever were the analysis to follow in this stock when it came to what really mattered, reasoned and fact-based unlike the information that most wavoids based their both hands in approach to investing in this company. The idiot savants who pumped this company harder than the jealous tire inflation station at Breezewood disappeared and that to me is incredible and unbelievable given the amount of time and energy they spent uncovering everything that turned out not to be so, not to mention the time spent trying to discredit those who were correctly suspicious.
Trust but verify was never the strong suit of most wave investors. The reality still has not sunk in for some and will not until the stock ticker disappears. Only then will those folks realize they are left clinging on to something absolutely worthless.
A snarky comment saying it must be nice to be right about investing is a false narrative. This is the company we were discussing. And yes I feel grateful to have sat on the sidelines arguing my view and not buying into the garbage that was being pushed. Everything was right there in black and white for those who cared enough to do their own research. There are some wavoids that deserved losing their asses but those were a very vocal minority-and I have a bad feeling they actually made money and profited at the expense of their target audience-but my opinion could be wrong. The vast majority of very decent people here I wish never got dragged into this sucking black hole.
From what you posted it basically seems that those of us who were calling foul for all those years were on the right track.
I have not even looked at the filings to be honest. If they are going through the court I don't see how any of the outstanding shares are going to retain any value. If they reorganize it will probably be as a whole new company. The domain name has been sold
https://www.wave.com/
And I think there has been such damage done they would have to reorganize under a new name but I just can't see it happening.
The common shareholder is owed nothing and has no standing for the most part. The list of preferred creditors is long and it just does not seem like any chance of any common shareholder recovering even one cent is likely.
I would be stunned to see otherwise.
Agreed..AA at least had a viable business in spite of what befell them,, wave had hot air backed by those on these boards saying its going to be great and you don't want to be out when it happens. Two fantastic investing strategies that are vital to any investment strategy that involves losing principle and money invested after the fact. Principles held near and dear by those who were herded en mass to any board where the message could be shaped and not exposed by the very hard questions raised, not by agenda but by actions and financials of the company. Too bad the words of so few tainted the waters and blinded so very many, who more than likely could least afford what was the final outcome.
The reality that those among them profited from all of this while this was going on makes it all the more heinous, all in my opinion.
Bar right on. It will never drift to zero for the exact examples you show. There are too many people who get sucked into thinking the pennies are a way to make big money cause of the huge upside-at least that's how they are sold to get sucked in. The thinking is hell those 10,000 shares hardly cost anything... The only people making money on these stocks are the vultures who make money off of these folks. Just a few odd trades which don't cost them a lot, since this is what they do, and they suck those in thinking something is going to happen.
This is the history of the wave investor. Trying to turn over rocks to get to the root cause when it was always these sort of manipulating market types playing the games with the stock.
Now they trade in a market where there is no accountability period. There is just five letters being traded WAVXQ and there is absolutely nothing behind it. Except the guys willing to put a few bucks out there to bump up the price so they can dump the shares they bought a few cents cheaper.
Golpe the powers that be believed the hype that the wavoids would swallow anything that pushed down their throats on these boards. it happened for ever and those who saw it otherwise were painted with having some nefarious agenda every time. Thats just the facts. How many times did posters come after TKC and others who tried to lay out the numbers in a matter of a few posts add their spin to make things appear better than they were. I think they thought something was coming down the pipe at the time the had to put the paperwork in-and i have no idea what that was- whatever it was never materialized and this and the the terms of the repayment they had on the money they borrowed were the final blow from which they could no longer bullshit their way to continue as a going concern. They pretty much were bs'ing their way through the last decade of existence almost.
The trading you keep seeing are nothing more than how penny stocks get traded. Just moment on the trades with nothing behind them. I saw a bankrupt shell company trade under the ticker of AMPDW about 15 years ago with absolutely nothing behind it for months. I even bought and traded some just for the hell of it. But there was absolutely nothing of value in the ticker.
It's not a surprise that at the very real end, those who held out hope for a crumb of what was lost are only left holding the bag. What's left in the bag is exactly what was being sold.
I hope after all this people realize beyond the shadow of doubt that they were being jerked around by people they probably considered friend in the context of the message board. Those people preyed upon that fact and profited at their expense over and over again. Any case that would have been presented would have been thrown out because of the language in the proxy and the numbers which were reported and should have been what was used to make the investing decision. The information that was deemed by many on this board by the mere appearance on this board would be deemed as unreliable because of the venue.
The first line of your post tells it all. Look at the type of information that posters was trying to pump and tell me you want that organizing this sort of action.
This to me looks like it was a distraction to buy time and frustrate those who actually thought something was going to happen, and eventually just get it to the point where they just fade away. The silence on the boards after the initial uproar leads me to believe it worked. Just my gut feeling.
Player it's been a real pleasure over the years to interact with you and read your post's over the years. I check the boards so rarely anymore that I can see the writing's on the wall that nobody cares anymore.
All the lawsuit talk is gone. That's too bad for those who actually thought something was going to come from that. From where I sit it looks like that talk may have been a smoke screen for some IMO. The fact there there is going to be zero legal action is truly the final nail in the coffin on this story. Those that were in the midst of the true believers used the boards to take advantage and profit at the expense of those who thought the information they were being fed was on the up and up and it was all done in a forum where it's truly buyer beware.
That's at least how it appears to these eyes.
This is truly how it ends. Those who proclaimed to have lost the most, those who had the loudest voices and would seemingly have had the most to lose went silent after the crash and burn.
Quite an expansive list...common shareholder line up behind the last name on the list. Would like to see if names on that list are affiliated with anybody who posted on the boards and have that listed by somebody in the know.
I have no need to participate in any sort of action against the company. My losses are not even on the radar compared with those that should be up in arms. The 8K I am out is my fault because of a sell order not executed in an account that I rarely checked. The other shares I had I began dumping 10 years ago once the Intel/IBM releases reared it's head and then the pure and utter bullshit line about deals in hand and Thailand floods withe the hard drives was my sign to run like hell. I almost bought back in when the DELL revenues began to ramp up but I wanted to see a sign of other companies buying in the way DELL did or I wanted to see some EPS improvement which never came. I convinced myself that if everything I was hearing was going to come to pass the very weak holdings by institutions meant there would be much opportunity to re enter down the road. If a stock is to become a hundred dollar plus stock 15 is as good an entry point as 2 given the risk reward. I hung around for the entertainment value and because of the interest in the space, not to mention the real life case study on investor psychology and interaction. That 8 grrr was worth every penny from what I was able to take away from my time here.
I would believe those that questioned nearly every move this company made on this forum and the defunct A-Bob board far more than nearly anyone on the other outlets. The truth that surounds this equity is stranger than fiction for sure. I, for one, refuse to believe that all those posters that invested so much time and money slipped away silent from anger or embarrassment. To fight like some did against mere words on this forum...to go to the lengths they did and now a deafening silence? The shareholders that hung on the words of the most vocal supporters got screwed and had their pockets picked and futures ruined by those deceitful members of their community. The willful silence of others who brought legitimate fact based concern make them complicit in some of the losses. ..but the market is wild west and it is certainly buyer beware. The company in print released enough info that highlighted all the red flags if one took the initiative to actually read them. Et tu ( inserted wavoid name here)? All imo and icbw....
Legal action seemingly hit the wall if I read the other publication correctly. Not surpring to me...or really anybody who posted here. Imo what's down that rabbit hole probably not too pretty ....
Alea..I think that needs to be fleshed out a bit. It seems that the institutions that were behind the financing had some sort of connection with this investor base and those connected to the company. Without this I don't necessarily know if all that financing would have been available without the constant buying by the shareholders and consistently up beat message that allowed the continued wash rinse repeat of dilution to fund this debacle.
Many longs tried to make the case about the product working across platforms giving it the leg up, but the revenue showed otherwise. Shareholders were going crazy trying to figure out why with all the breeches that nobody was on board. I know people that do product liability defense work and companies deal in a cost lost formula when they have an inferior product in the marketplace. As huge an impact as these breeches have caused it has not pushed these companies past the point of forcing change-which is what Wave needed.
Look at the loan language for Peter Sprague in those old filings.
Look at the founders shares. Many longs thought they would be used to stop a take over since those shares carried multiple voting rights. Enough to outweigh the common shareholder. The filings showed there was no market for those shares and there was a very small number of the shares owned. My thoughts were such that without a market the price could be set at whatever was needed to serve their purpose.
Look at the process for removing a member of the BOD. If you want to see the coup de grace in the form of double birds held straight out while mouthing EFF YOUU peruse the section on how difficult it was to vote out a member of the BOD and then read with slack jawed amazement the compensation packages these grifters were paid to look after the interests of the shareholders.
The leaders of this company were supposed to unlock the value of this company and be good stewards of the shareholders investment and did neither.
They refused to buy stock on the open market and with good reason. If they were not buying, the shareholder should have followed suit. Many times the water carriers would say they cannot buy because of material items, but I saw many companies do it. CECE was one holding of mine that saw many buys prior to revenue related news. The company was financed for years on the backs of shareholder via the dillutive selling of shares. I assume this money funded the company and paid salaries, and even with this unearned money they would still not buy shares. Shameful but a glowing red flag.
I cannot recall not seeing that on any that I ever read going back to 2000, but my recollection might be off. If I had a nickel for every post that called it standard boilerplate.
The reports had all kinds of great info, the loans to officers the family salaries, the unearned bonus monies for years, the founders shares...the devil was always in the details and it really makes for a fascinating read. If only people bothered to read them it would have stopped so much egregious antics in their tracks. Unfortunately many shareholders took their cue and information from a poster who was participating in private placements and more than likely profiting from the wounded state the company was in.
What you have posted, what many here have posted are observation and commentary of a general nature based on the actions that have been observed. Many of us have been here for years and had front row seats for the slaughter. All the while having our voices muted, and in most cases distorted by those who wanted the flow of information painted a certain way.
Too bad some of those same people chose not to participate or pay attention to the real world issues that were being raised at a time when it may have helped them see they were clearly throwing money down a sink hole. We discussed numbers in a manor that clearly shown how deep a hole would have to be dug out of for the company that is now as dead as the money invested became, to even get back to a point where the losses would be less than horrific.
The life lesson learned should be there were two sides to every trade. A long and a short side. The endgame for both is to make money. The longs took the very wrong view of the shorts as evil. The shorts looked at the very same data the longs had available to them and made a calculated and, by the way, correct analysis of how this company was going to fare based on facts.
The frying of the shorts never arrived because the company never had what was needed to carry it forward. At no time was the company ever capitalized in a fashion that would have ignited this. They took the largest chunk of cash they got from PGE and squandered it. Then they continued to show weakness when decimated shareholder value by increasing the float when there wasn't any viable gains in the EPS. The RS gave all but the true believers reason to pause, but in reality it just allowed the abusers running this company to reset the cycle all over again.
Even when it came to light they were selling their future revenues at a discount to fund the company, that massive red flag was ignored.
Only when the company was painted into the corner and took the needle did reality finally come into focus.
The 8K I lost in this company( and had I looked at a forgotten brokerage account I would have saw a sale order was not processed I would have lost far less than that) probably puts me with the 1%'ers who walked away from this trainwreck basically unscathed.. and like those folks it wasn't my own money...it was Nokia and some satellite radio profit taking pushed into a flyer here.
The education from being on the front line for so many years has repaid me in spades far more than I lost. I could never put a price on that.
I called the explanation bogus and laid out the reason why..no where did I call you a loser. The familiar names I was referring to had more to do with the wolves from the board than what you perceived. At some point you need to come to grips with the fact this company was mishandled and the shareholders were mislead.
This feels like there are going to be familliar names attached once the digging is done..and another stick in the eye for the broke longs...
From SuperComs Q4 2015 CC
"Similarly cyber security encryption and data protection have also been an important component of our e-ID platform. Last month we announced accretive acquisition of Safend, a global data security company with a broad range of competitive and well known encryption and data protection solution.
Safend has thousands of customers in the United States, Europe and Asia including multinational enterprises, government agencies and small-to-mid sized companies around the globe, highly valuable potential for us with our SuperCom’s innovative product offerings. Safend was a subsidiary of Wave Systems Corp, which had acquired Safend in 2011 for more than $12.7 million. Safend's average annual revenues in recent years, is approximately $5 million in typical software license in gross margins.
The majority of these sales were generated through its parent worldwide distribution network which is no longer available to distribute Safend products. Going forward, while the high level services and support will continue as usual by the Safend team, new sales will be generated through Safend and SuperCom’s global distribution channel.
As a result of this transition annual average for Safend products in the near future is uncertain, but expected to grow and exceed historical levels after proper absorption into the new sales channel. It is noteworthy to mention that over 50% of the billings in 2014 and 2015 of Safend both for maintenance and support a strong recurring base we look forward to building on.
This integrates our many sales channels up and running effectively already through SuperCom and Safend around the globe. In consideration for the acquisition SuperCom provided Safend commitments up to $1.5 million of working capital to support its activity and growth through a structured debt to equity vehicle given the high margin recurring base of sales over the recent cost structure of Safend. We expect this acquisition to be quickly accretive and with significant growth to catch on."
5 Million a year in average revenues in recent years
spitball that since 2013
2013 total revs 24M
2014 total revs 17M
2015 3 quarters reported 7.6M
this product was providing the steadiest stream of revenue in the company
59% pop today... something stealth must be coming....
Nick you probably came out better than any of the heavy hitters did that were invested if that's any consolation..except those that were manipulating the longs in the midst off the protected confines.....I feel incredibly fortunate to count my losses in the 8,000 range. On the plus side, hopefully you were able to profit in this fantastic bull market that started in the months that followed your exit from the stock.