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go-kitesurf: Re--big stories not coming in a few days. What news organizations sell, is relevance and freshness, not history.
That's why I think they are on the case now and have a gun to their heads in terms of deadlines. If they wait, it becomes re-hash of much-plowed ground.
Either way, though, in the next few days or further out--news coverage by big organizations is only going to help us--although I think we should be prepared for some coverage of the negative aspects of our history.
The guess here, though, is the focus of these stories will be on the product and the how and why it propelled us to the hottest stock in a long time--after a decade and a half of toiling in the vineyards, or wandering in the desert.
The product is not easy to describe, and what the product does, is difficult to define for the average non-techie reader. That may inhibit us somewhat.
We need someone to write a real sexy summary of what it is we make, how it works and who would buy it and why. Any takers?
P.S. anyone out there have a real-time price and volume?
Best wishes, Bluefang
Orda: Bruce did some work for Wave that was never publicly specified and received about 30K shares as pay (from public records). He is among the most respected of security specialists and is a frequent commentator on security issues.
One presumes he would not talk about Wave and its deals because of a NDA (that is presumed, not known).
He later broke ranks with Wave mgt because he takes the absolutist position, that everything is hackable, given enough resources and time.
I think he may have been involved before Embassy, but not sure now about the time period. Best I can remember it was about six years ago (but that may not be accurate at all).
Bruce and Peter have known each other forever, from spook work, when Peter was CEO of National Semi.
2b--I yield to your study of Rambus. I invested, made some money and got out when I saw what was going on. You may be right. I know there are still some unsettled lawsuit issues, but basically I thought their goose was cooked.
Not that share price is the total indicator, but it looks like most of the denizens of the Street have voted with their feet, in a manner rather fleet.
For a while Rambus was THE darling of tech stocks, but IMO, failed to expand on their beachhead, failed to improve their product and failed to bring their prices down.
I saw it as a failure in tactics, strategy and allotment of resources at the very top. But have read no more on Rambus since I got out with some dough a couple of years ago.
IMO, Wave has charted a completely different course, altering price and strategy precisely to expand on their beachhead and are now moving into position for a frontal attack on ubiquity. Rambus for a very brief time, had the same sort of opportunity, but blew it, IMO.
You can message me privately if you would like to show me how I am either misreading or misinterpreting the fascinating Rambus story.
Bluefang
I winced when I saw that word, "unhackable." "Highly hack resistant", would be a far better terminology, IMO.
Why? Because one tiny hack of any part of it would shake confidence in the whole Wave system of trust and security. Either it was a mistake in judgement, or there is an unusually high degree of confidence.
Even if it is the latter, it seems to be a challenge to hackers everywhere. Remember MS's highly touted security that was foiled in minutes by high school kids.
Otherwise, on with the party--Bluefang
Dr. Ze'ev Hed: There are no real parallels between Rambus and Wavx, in all due respect, other than Rambus was a company that also came out of the blue--with a new kind of memory that was supposed to be better and more effective than the other kinds already on the market. Unfortunately, it cost a lot more than their competitors, which was what ultimately did it in.
Rambus then used its very aggressivge attorneys very well in attacking companies that had even the vaguest connections to their technology. Their money and energy might have been better spent on making a better product.
Wave has spent virtually all of its money and time on making a better product and none to my knowledge, attacking other companies for infringement.
You have an impressive set of credentials, but I have noticed a complete absence of any sort of expertise in security, trusted computing or encryption.
Should Wave ever venture into the field of magnetic resonance, I'm sure you are one of the first they will call. But for now, my guess is they are sticking to people who know something about the field in which they are playing.
Bluefang
Alladinator--If I may correct you, I don't believe Wave has ever seen press like this. Couple that with most active stock, highest upward change and I think you have an audience on the street we have never had.
I would suspect that most of the major financial news organizations have ordered up in-depth stories that may take a few days to a week to complete and they will begin appearing soon.
It is not often that a stock comes out of nowhere (for the world at large--not Wavoids, of course) and is led down the very public altar by the likes of Intel & IBM in the space of three business days, with the hint of more marriages in the near future.
If my theory is correct about major in-depth stories coming, that will help us sustain share price when the traders are finished with us and those looking for long term strength come knocking at our door.
I would think old friend Danny Hakim at the NY Times is in a position to beat most journalists to the punch, if he is still around--haven't seen his byline in a few months, though. His piece on the Wavx cult a couple of years or more back was classic.
These are heady times indeed and it is hard to know quite what to expect, because simply we have never been here before.
If the need for security is as great as most of us think, our tsunami has just begun. Once companies and individuals get a taste of real security, it seems to me trusting computing will be on us in a heartbeat.
We've all seen enough of the toll taken by spoofing, sniffing, hacking and cracking, not to mention worms, viruses, and hijacked computers. It has been the Wild West on the Net--but US Marshal Wavx might be able to bring law and order.
Best wishes to all--Bluefang
Slate: How nice to see you back again after a very long absence. We've missed your wit & wisdom. Best wishes,
Bluefang (Duchess)
Re: Snackman--I am totally confused. Which is the one (Larry) who founded the DD forum on RB? How many variations are there on this board?
Is the real Snackman, Snackman62?
TIA-Blue
Snackman: Many moons ago, I asked Peter if he saw Wave stock splitting or paying dividends, and he said splitting has no tax consequences for shareholders, and he would prefer that to dividends.
Specifically, to your question--IMO, it would be foolish to split now, because of the chance of a sudden downdraft due to circumstances beyond our control--say another 9/11 attack (God forbid) could take us below Nasdaq requirements. The Naz has been quite lenient on us, IMO and I would not want to push it.
On the other hand, I would enjoy holding twice as many shares, or more even. It is fun to speculate on splits, but that IMO, is counting unhatched chickens--not unlike buying on margin.
Best--Bluefang
Rachelelise, thank you for your careful illumination. Can you expand on the revenue model, how that would work? If royalties, even if they hit $30/per, which sure seems high, that would probably not be enough to send our stock stratospheric.
This is not a criticism, any revenues are good--I just don't understand how Wave will make money beyond the licencing fee.
The earlier model was, we'd take a piece of every transaction, but our strategy and technology now seems to have shifted, am I not correct? (I did not keep up with changes in the past 3 years, because I thought most of the progress was bogus or imaginary. How wrong that was!)
Do we get any revenues beyond the royalty fees?
TIA--Bluefang
Orda: It was programmable, last I heard. That's why this comment from IDG seems so wrong.
But my question to the board was based on the issue of software-only encryption. Is the whole Palladium thing software, or does it also include a hardware component? I am woefully out of my field of expertise in technical matters.
Perhaps someone should e-mail Mr. Paul Roberts at IDG and set him straight (in a nice way).
Best, Bluefang
Sorry: Here are the last few paragraphs, but suggest all read entire story from IDG.
Best--Bluefang
"Intel is just the latest big name to sign on with Wave Systems. In March, Wave Systems signed a licensing agreement with National Semiconductor Corp. to bundle Embassy with National Semiconductor’s PC21100 SafeKeeper trusted platform modules.
The company hopes to take advantage of its software residing on components from Intel and National Semiconductor to sell services to users through subscription services, akin to the update services offered by desktop antivirus companies, Callahan said.
Users could sign up for programs like a document manager vault that would secure store user files or services store names, passwords and other personal information, he said.
Wave Systems also will offer an enterprise-level service that could be deployed to users over a corporate network, Callahan said.
While the Intel deal is good news for Wave, its impact on the broader PC market is harder to gauge, according to John Pescatore of Gartner Inc.
"Even if I took this new motherboard from Intel with the Wave software, if I ran (Microsoft Corp.'s) Windows on top of it, I'm still going to have risks," Pescatore said.
Widespread application of trusted computing technology will only come with the next version of Windows, dubbed "Longhorn," which is scheduled for release in 2005, Pescatore said. Changes in the Windows kernel in that release will enable Windows to interact with trusted computing chip technology being developed by Intel, providing hardware-based encryption of sensitive data.
While the deal with Intel may be welcome for customers who were already considering deploying Wave's software on an Intel platform, it will probably not be enough to draw in uncommitted customers.
"Why should customers adopt Wave's technology now if, in two years, Microsoft is coming out with the same thing," Pescatore said.
Interesting article, especially that last sentence. Am I mistaken in thinking Microsoft's iniative is purely software-based, and thus fatally flawed, compared to Wave's hardware-software solution? Paging the techies...
Bluefang
Good to see you here DWG! Your unwavering faith looks completely justified. Congrats!
What are your thoughts about going forward. It seems to me trusted computing is about to become ubiquitous. What online merchant is going to want to bother with an untrusted customer?
But I would like to hear your vision of what you see short term and long term, should you have the time.
Best wishes--Bluefang
Someone please post the closing price along with volume--for those of us in the Dark Ages with delayed quotes. Many thanx in advance.
Bluefang
The momentum on the volume is gold rush mentality. The price is jumping. This is insane.
Bluefang
Snackman: I agree I owe mgt one big apology, and as I said yesterday, it will happen. Let's see how the revenues are going to shake out, so the apology can be complete. I was wrong, dead wrong and I am so happy to be saying that.
I will write a letter of apology and make it public. I laid out my criticism in public; I will eat crow in public. It is only fair.
But for now, let's both of us enjoy the success. Yes, it obviously did not come overnight, nor easily. The point is, what both of us have wanted for a long time has arrived.
I doubted, lost faith and said some shameful things. You held true, kept the faith and were gracious. In the end, you were right and I could not have been more wrong.
The champagne will be on me, as will the dinner of your choice, when we finally meet in person. Congratulations! What a wonderful time to be a Wavoid after all those dreary days wandering in the desert, wondering if we would ever see the promised land.
Bluefang
Largehedgefund: I don't think it is accurate to call 12M shares traded in the first hour and a half purely technical. Particularly, when it comes on the heels of yesterday's record setting day for trades.
This seems to me to be the real deal, in that a lot of people are looking at a company way undervalued that has been embraced by Intel, and they are grabbing all the shares they can.
Sure, some are just traders making 20% and pulling the trigger--but it is a lot more than churning that is pushing the price up at the rate it is rising.
Perhaps you have been burned too many times by Wave in the past to see reality when it finally arrives. As someone who is extremely cynical myself, I can clearly see this is different than anything that has ever gone before in our history. Couple that with the rabid interest in the stock and the rising price and I believe you can find absolute validation.
Whatever the unlikelihood of it happening, or the condition of the road traveled to get here--Wave mgt has hit a grand slam.
Those of us who have carped and criticized for lack of execution in the past, must now stare an unmitigated success in the teeth and admit the obvious.
Our criticism was always fueled by the knowledge that the techmology was desperately needed, but that our management seemed to be unable to sell. Now, one of the largest players of all time has said, "yes, I want it and will employ it."
When it is in the Intel motherboard--it becomes the Internet standard, period. We are just two months away from the beginning of the fourth quarter, the time when Intel said these new motherboards will be available. That, my friend, is eminent deployment of the very real kind.
Sincerely, Bluefang
Is this finally an actual sighting of the much-rumored, never seen abdominal slowman? I believe years ago he was referred to as "The Fatman." Jesse Livermore, where are you?
Bluefang
Bluefang to all: This could be the precursor to Wave greatness. If so, I have much crow to eat, many apologies to make. If it happens, I will do it like a man.
Not ready to turn on the crow roaster yet, but it sure looks like no announcement we have ever had before. Best yet, it came from Intel, not Wave. AND it was carried on Dow Jones wire, not Business Wire. LEGITIMATE NEWS!
Other than our weakened financial condition, I can see no downside to this partnership. If I read it right, it looks to me like not only will Wave finally become ubiquitous, but we will fulfill the original goal of being inside every PC made.
Let's hope our much maligned, much criticized leaders have finally found the key to paradise.
Our long days in the desert may be at end.
Here's to happy days ahead for all of us.
Best wishes--Bluefang
Zen: I read it. We both see the same thing and come to differing conclusions.
Like you, I resent being strung along by falsehoods (or rosy predictionss, since that sounds nicer)while we wait for the paradigm to shift our way.
But one little story out of the early days of the TCPA, if you will. SKS was invited to join the initial group. A friend of mine was there and said SKS was treated kind of like a dog at the table--as long as he was quiet, bothered no one, and knew his place, he could stay. He was quiet and stayed.
The SKS version of this same meeting was that he practically started TCPA--a very gross distortion of the actual facts.
So asking ourselves why would our president distort and exaggerate the fact that Wave was present at an important meeting? Why wasn't it enough that we were there? Why did it have to go from what it was, to what it wasn't?
Your guess is as good as mine on that score--but the bottom line is SKS does not always tell the truth--there may be a kernel of truth in there somewhere, sometimes. I don't like having to guess which part is true and which part is false or exaggerated. Those kind of things cast doubt on everything he says.
On another point you made: whether mgt should be congratulated for still being here at this point, is another issue. We burned thru money like no tomorrow when there was no real chance to deploy. A prudent company conserves cash for when it really counts.
We are now at the end of the line, cash-wise and probably prospect-wise too. Too many VC's have been burned by Wave. Many of us will not buy more stock unless revenues start to flow. How did we get to this point? In my mind, poor decisions and failure to cut costs and blatant dishonesty all led to our current position.
You see it very differently, which is fine. You applaud mgt for surviving this long; I chastise them for not conserving our resources sooner and better. We could both be right.
One of my criticisms in the past was that if Wave makes a public announcement of a deal, a partnership, etc.--if it falls apart, a public announcement should be made in that same space, or at least some disclosure given to the shareholders. That seems fair to me. But Wave seems to think we can not handle the truth. The prospect that they might be right is what scares me.
Why spend so much time and energy faking people out? Just execute and accept the accolades. If Wave were even at $25 a share again, none of us would be complaining.
In the past we blamed MM's, shorters, bashers, the media, and a gang of co-conspirators for keeping our story out of the limelight. Now, some of us are starting to look a little closer to home for the answers. Execution now would make all the pain go away. The question is, is it too late?
Not sure if I exactly answered your question, but I gave it a good try.
Best to you, Zen.
P.S. OT, some of you have e-mailed me privately and I can not respond privately at this point. Thank each of you for your comments, pro and con.---Bluefang
Doma: In a way, you made my point--those first items you listed are the very reasons we are still around.
But early on, we had different strategies, different goals, different focus. One can argue that mgt was flexible enough to change strategies as the playing field changed.
But one could also argue that announcing success so often, used up precious good will, credibility and made a company with a great technology, look like snake-oil salesmen peddling hype and hope.
Before you rush to answer, I am very aware of the shifting sands beneath our feet. But as another long termer, had you not expected Wave to deploy before now?
The answer is probably yes--and that is the direction where my slings and arrows are directed. To that part which unreasonably raised expectations, declared the battle won, and then when it was clear we not only didn't win, but probably were not even on the battlefield--there were never any explanations. Every day started off brand new.
Had mgt come forward and said, "listen, originally we expected to be inside every computer sold, but belatedly we learned OEM's never introduce new technology until there's a clear market for it--so we were caught in this chicken and egg thing.
"So now, we are changing our focus to security and trust. It will be a long and tough road because of the obstacles in our path. We hope you will bear with us and we are likely to make mistakes along the way. If we do, we'll admit them like men and give you the explanations as to why we tried what we tried based on the info we had at the time."
Some will immediately say that's naive for a company to announce its errors in public. Well, it may be naive, but it is a sight better than announcing deployment next month, next quarter, next year and then conveniently forgetting you made those announcements and dummying up when asked.
If some of the partnerships that were announced fell apart, shouldn't mgt have told us, "EDS had some internal problems. IBM decided to go in a different direction. HP had a change in leadership and philosophy, as well as a consuming internal war.
For those of us who bought shares based on the announcements, we would have considered that fair. But to say nothing, or to be misleading as Peter was about IBM at one SHM ("We talk to 140 IBM employees every day.")--that is a recipe for the sort of revolt you see referred to on this board and on the others.
Honest and character do matter. We have had enough deceit and dishonesty in big business to last us all several lifetimes. It was and nearly always will prove disasterous when the truth is ultimately learned. And look what it did to the individual stocks involved and the market as a whole. We all still suffer because of it.
The problem with being deceitful is that when you are finally honest, no one believes you. That's how I see Wave mgt now. When I see revenues, not announcements of revenues, I'll believe it.
Otherwise, like you, I wait and hope that if the market does come our way, our boys in Lee won't fumble it away.
Best to you, Doma--Bluefang
Doma: CPA can respond for himself, but as one who is in the same position as he, let me give my version of the why.
The technology and the promise of Wave is so enticing, we, the critics, are more than willing to overlook lapses and mistakes, if only we could finally start to go in the right direction.
Again and again, we thought our faith had been validated, only later to find the opportunities slipped away.
But for those of us who still believe in the technology, that the world badly needs something an awfully like Wave, it is hard to let it go. So we carp and criticize. Then there is an announcement and we think, "At last!"
I read today's announcement, but have been burned so many times in the past, I suppose I am more than a little cynical about "good news." I ask is it really good news, or some more virtual good news. I have no way of telling, so I sit and wait. All the while, I am of course suspicious, because of so many letdowns in the past--yet still hopeful, this time it will be real.
Even today, despite often caustic, sarcastic and biting criticism repeated too many times, at heart I hope this is the first sign of traction, a turning, a part with the past and a foot in the future.
Despite my deep rooted cynicism about our chances, just as deep rooted is my desire to see Wave succeed, to become worthy of all of us who have supported the company all these years, through so much.
Best of wishes--Bluefang
Snackman: Your wisdom shows through. We are here to discuss Wave, not each other. Both sides of the issue should be debated, without getting personal. Thank you once again for your graciousness.
You are so right that I do want Wave to succeed. The promise and the technology are so revolutionary, I wonder why the world hasn't seen it yet.
Post 9/11 is exactly the right atmosphere for us to succeed, as tragic as it was. We need security in the worst of ways.
Here's a glass raised to the future.
Bluefang
To Green from Blue: Please don't make the mistake of classifying posters as either positive or negative. Please consider what each has to say and ask, is it based in fact, hope, fantasy, or something else?
By classifying people as negative posters and by disregarding, you may be overlooking something important they have to contribute bearing on your investment.
This company has put out a string of announcements, at which nearly all of us rejoiced--only to watch the deals come undone, the partnerships abandoned and all of this go unexplained by management.
Wave's president has announced emminent deployment in virtually every year since I have been in the stock (1996). To my knowledge, we have yet to ship a single chip to fill an order. Not only that, but to my knowledge, our president has never corrected himself, nor explained why those millions of chips he said would be shipped, were not.
If pointing these facts out makes me a negative poster, feel free to stamp that brand on my forehead and go right ahead with your own plans. If however, you are curious about both sides of the issue, be sure and read all the posts and then decide which have the ring of truth.
I offer this advice as an early enthusiastic supporter, who slowly came to the realization that Wave talked a wonderful game, but when it came to the actual playing field, they fumbled or were intercepted every time they got the ball.
Of special interest to you in your investigation: PCFree--Wave Systems gave a NH man who allegedly wore aluminum foil inside his hard hat to ward off alien thought waves, the sum of a quarter of a million dollars of shareholder money. Needless to say, the result was predicable (nothing came of it) and not one word of explanation has ever come forth from mgt lips, because to even acknowledge what they did, would further embarass them.
You might also want to look at Founders Shares, an odious chapter in a long line of them. Please check out bonuses and stock options handed out to mgt for deals that soon fell through. Check out low or no interest million dollar loans made to top family mgt. in the midst of very lean times.
These are some of the things you are not likely to hear about from "the positive" posters, but may be critical info you need to know before you go forward.
Best wishes--Bluefang
Snackman: Don't want to get into a protracted battle with you over why I post, but it is basically no different from why you post. It's just the opposite view, that's all.
My problem with the company is the basic dishonest and misleading that has been going on since day one.
I'm not trying to get people not to buy, nor writing for the newbies. I am trying to counter some of the inflated stories of unlimited hope with a little reality, history and facts. Then people can make up their own minds.
If one read all the press releases the company has issued, without knowing anything further, one would think it is a great company to invest in. But when you view those releases in context with what followed, you come to a completely different opinion.
The ironic thing is both you and I want the same thing: for Wave to succeed--I just feel it can't happen with the same people in charge who have put us where we are.
They, IMO, do not have the skills needed to take us from development stage to market, nor do they have the skills needed to manage a company and its finances, especially during hard times.
I have pointed out ad nauseum the instances of bad mgt that I think have hurt us badly. I.E., naming more relatives to the mgt team at high salaries--this is a 5-alarm warning bell on Wall St. It was the downfall of Adelphia and any number of other family-run companies. It does not speak to professionalism as much as nepotism and cronyism. IMO, it will always hinder us, because the impression one gets is the family will always come first and the shareholders (if we are lucky) second.
IMO, and I have cited the facts often enough, we need a change. I belive in Wave's technology and its potential. But no longer in our leaders, who have failed, spectacularly enough and often enough to warrant change.
But feel free to post opposite views. You will never hear me asking you why you post optimsitic, even confabulatory stories on any board without any factual basis. So I hope you will excuse me for pointing out the emperor is buck naked.
Bluefang
Snackman: The point is that yourself and many others seem to be selling hope, when many of us feel there is none. You cite no facts; history is against you.
Is it wrong for my voice to speak what I believe to be the truth about Wave, just as you speak what you believe to be the truth?
I said nothing about selling. I said something about changing this company for the better. One could conclude from your comments that it is perfectly fine at a time of cash starvation, for management to lavish salaries and bonuses on themselves.
One could conclude that you feel it just fine that those bonuses and stock options were awarded for deals that came undone. You seem comfortable with the fact that virtually every quarter mgt has announced a deal, deployment, shipping dates--and in the entire history, not one chip has shipped to fill an order.
I have yet to hear the slightest criticism from you about our direction, our speed and very real possibility we may never get where we are going, because we ran out of cash.
Wave, IMO, has squandered its precious resources in a reckless manner. We had offices in Lee, New York, Princeton, N,J., and San Jose, Calif. when there was no product. We were hiring engineers when there was no demand for our non-existent product.
All of this troubles me as an investor, and you are certainly free to look at the same set of facts and draw an opposite opinion. But pardon some of us, if we not only do not share your opinion, but wonder incredulously how you can be optimistic, given the history and the situation we now find ourselves.
Perhaps if we had pushed harder for explanations of non-execution earlier, mgt might have realized they better come up with something. Blind and unwavering support, IMO, was not the wise thing to offer a spectacularly unsuccessful mgt staggering and lurching around, changing strategies with every wind change.
Wave will succeed or fail no matter what our opinions are. But if we were on the cusp of success and needed a few more months to get there, I for one, would be more than a little bitter that mgt had chosen to burn through scarce resources in the way they have. It did not have to be this way.
When times are hard, we buckle and knuckle down, trim our expenses. If only Wave had acted as if were the shareholder's money and not some bottomless bucket they could dip into for eternity.
Feel free to espouse the optimistic and opposite opinion--but please don't ask me to buy into it. My statements about Wave are based on hard fact. Yours, my friend, seem less so.
So we agree to disagree. You see a glass nearly full. I see a drained and dry glass, one that is dirty, cracked and chipped from abuse.
Bluefang
Yes. 5k shares. I suppose you ask because you wonder why I criticize the company here instead of supporting it. If I correctly guessed your intent, I would say to you, I want this company to be better. It should be.
IMO, making and breaking promises without explanation is indefensible. You don't seem to mind and you buy into the next round of promises seemingly forgetting the last ones were broken.
There was no bigger supporter of Wave than myself. I encouraged friends and family to buy in and it was a disaster. But I am responsible only for my own mistakes, not theirs. Their mistake was listening to me; mine was listening and believing SKS each time he said we would deploy, "next quarter" or "next year."
Now I see another poster here is saying we should know something by the end of this year. I predict we will not know anything more than is already known by the end of this year or next, or the one after that.
My optimism and my willingess to believe was washed away long ago in a torrent of rosy predictions that never came true. Now, don't tell me, show me. Then I'll believe it.
Best to you Snackman--Bluefang
Awk: you make it binary--accept mgt shennanigans, or get out of the stock. Can't there be constructive criticism of mgt practices? Can we not urge mgt to stop destructive practices? Can we not urge them to see how they have hurt, are hurting our company?
In my mind, while shareholder power is limited, especially in light of the way the voting shares are structured, we do have some power. If mgt. tells us next quarter will be better, that there will be deployment and then if it does not happen, don't we have a right to ask for an explanation? And if one is not given, do we not have additional rights?
Is our only option to take our beating and go home? Can we not politic publicly for reform? Can we not raise our voices in protest?
I think that is our duty, if we still believe in the vision and the technology of Wave--and I do. Unfortunately, the people entrusted to carry out that vision, have either experienced a stunning string of unbelievable bad luck, have encountered marketing problems beyond their expertise, or they simply are incompetent.
Many would argue the two former posits; I argue the last one--incompetence. For if there were good and true explanations for our failure to execute at every turn, I believe we would have heard them. If mgt tried to execute in a particular quarter and was unable, it seems to me explanations are in order--rather than the issuing of more promises for the next quarter. This has been the MO at Wave for as long as I have been in (1996). Specific promises are made, followed by inaction. No explanations. More promises are issued for next quarter or next year.
Something is dreadfully wrong here. It may be stupidity, but it is beginning to have the look and the smell of cupidity. I would love to be proven wrong.
However, the present and the future look an awful lot like the distant and recent past. The old bywords--"have patience" seem to me meaningless, after seven years( for me) of absolutely nothing but promises. For others, the promises go back much further.
Where are the indicators of success? Where are the signs of traction, and not more slippage? Where is the proof mgt has learned its hard lessons? I look and I see none of these and thus, conclude the obvious.
Would sure love to hear a positive counter argument, a rebuttal, using facts rather than the unfulfilled statements and promises of a mgt. team which has not been candid with us since the beginning.
Bluefang
Hello to all from Bluefang: (repost w/ editing)
Just wanted to check in and see how many are still carrying the Wave flag into battle. I have lain quiet and dormant in the Blue Cave, absorbing all the non-news and reading the fat promises that continue to spew unabated from Lee as if we are about to become ubiquitous--doesn't that happen next quarter? Kind of like the sign in the bar, "Free beer tomorrow" (tomorrow never comes).
The same shills continue to believe in Wave, undaunted by the trail of broken promises, broken deals, failed alliances, non-shipment of chips and non-execution of virtually anything with the exception of the manufacture of more promises.
But the bonuses continue unabated in Lee for the fine work they have done under extreme pressure. Loans are forgiven. More relatives are hired. More shares are sold by our leaders. Adams, Harkness and Hill show their solid faith in the promise of our technology by selling over a million shares acquired at a premium price.
And the stock just keeps soaring, borne on the vapors from the vat of Kool-aid, combined with our leaders' advance-to-the-rear business strategy.
See, you haven't missed me at all have you? Way back when, I ticked off the majority of you for calling attention to mgt. failures and misrepresentations. Now I see many of you former cheerleaders have changed sides.
In short, many of this whole happy Alice in WaveLand conterie of interesting characters is still sniffing from the silo of psilocybin 'shrooms, not knowing that Elvis has indeed left the building. Anyway, hello from long ago--the past come full circle.
I bought my first shares at 50 cents in 1996 and we may soon be able to buy more at the same price, if we execute as well in the future as we have done in the past. June was ours!
Best to all--Your Darling Bluefang
P.S. I was wrong about censorship. This may yet be the one Wavx board we have all been waiting for. Civility and intelligent discussion may yet rear their heads! Blue