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Wave is the biggest financial scam on Nasdaq in the past 20 years!
title, the truth is, the spragues and their surrogated have been working hard for 20+ years to both make this outfit look legitimate and at the same time keep gullible investors pouring millions into this scam.
they pay for office space, they pay salaries to software developers who don't really develop anything or very little, they pay salaries to sales people who don't sell anything, they pay computer makers, hard drive makers and cell phone makers to put wave's software on their products, they pay distributors to offer wave's software to their clients, they organize and pay for conferences, pay companies and individuals and analysts to participate in those conferences, they pay analysts for positive coverage, and so on.
all this comes at the expense of investors who have been lied to believe that wave is a real company with a real product that one day will sell and make them rich.
of course the spragues spend only a small fraction of the money on the above. the majority goes into their pockets and the pockets of their surrogates.
mark my words! wave will be in history books in no more than 10 years, as a major if not the main example on financial fraud of 21st century. forget madoff. he did nothing original. all been done thousand times just maybe not on the same scale. but these guys, they're a clever bunch. gotta give them a lot of credit.. and jail time. lol.
i have no doubt that we're gonna see $2 sp real soon. following 1/10 reversed split.
would be interesting to find out one day how much money wave paid computer makers, hard drive makers and distributers for including/offering their now useless tpm management software.
i know apple charges $99 if you want your app available at the apple store.
this thing is nothing but a clever scam.
no doubt. can not be more obvious, can it?
alea, the numbers are cooked. there is no growing nothing. trust me.
everything that comes from wave is a lie.
wildman, i don't have to stay tuned to anything. i know everything there is to know in regards to the 20+ year old scam called Wave Systems. i sleep well at night. it's the spragues and their bodies who have to stay tuned. i bet every time there is a police siren outside or an unexpected knock on a door, they all soil their pants. it will suck to spend the rest of their lives in prison. chats with bernie madoff being the only entertainment and all. you know, swapping stories about the glory days of cheating gullible investors out of their money.
dell is 100% windows => windows have tpm management => that means wave's software on dell machines is absolutely useless.
nobody needs it.
FROM KNUTE97:
Or, how I descended from optimism to pessimism!
I have been an investor in Wave since 1996 and have always believed in the potential of the Company. I still do.
However, as I have grown older and am now in my "golden" years (and overly invested in Wave), I have come to the conclusion that we have accepted overly optimistic forecasts way too easily.
I know that there have been strong market forces at work that have prevented BE, but we have been promised BE for way too many years.
Having attended many ASM'S, I went back and, with the help of my notes and postings from IH and AB, I have chronicled Wave's promises.
2003 Annual Meeting - 8/27/2003 Knute97 IH #8103
"Market momentum growing. Wave is in a strong 1st mover position"
"Products and services speed adoption of trusted computing and drive Company profitability"
"Wave is in a position to open a floodgate of opportunity"
"Early next year break even. Then spend every dollar to maintain position"
"Great relationship with HP and state tuned for more"
2004 Annual Meeting - 6/21/2004 Knute97 IH #44774
"PC's first, PDA's and phones approximately 1 year away"
"Wave Express -- Good things happening 30-60 days, not 6 months"
"We have traction and implementation is underway"
2005 Annual Meeting - 5/23/2005 Knute97 IH #82339
"Board believes Wave is on the right track. No material weakness in management controls or assessment of controls" (Bagalay)
"Never been so busy"
"Breakeven in approximately 12 months"
2006 Annual Meeting - 7/24/2006 Knute97 IH #126202
"DOD contract completed and delivered successfully. Expect future work"
"Focused on revenues. Very focused on market share"
"(SKS) does believe in break even in 2nd quarter. No guarantee however"
"Revenue is growing"
From Givelove, IH#126176, July 24, 2006
"We have 75-80% market share and gaining"
"Wave Express to generate revenue in 07"
From Ramspower, IH#126161, July 24, 2006
"Breakeven by Q2 next year at the latest. If the upgrades start coming - breakeven could happen in Q4 2006."
2007 Annual Meeting - 6/7/2007
From Ramspower, IH#146036, June 6, 2007
"Bulk buy for government (all machines). 500,000 license fee negotiation. September/October (2007) possibility. Now testing, very optimistic - but US Governement - End of 3Q"
"Have enough funds to last approximately 1 year"
"He (SKS) stated that the investors wanted it to be the last placement and that Wave's customers wanted assurances that they were dealing with a viable, financially secure company, hence the need for the size of the placement and the discount to market
2008 Annual Meeting - 6/9/2008
From Toro, IH#165941, June 9, 2008
"I apologized for pressing and he (SKS) said that he would stand by his 2007 prediction that the 1st breakeven month would come in 2008"
From ramspower, IH#165998, June 10, 2008
"Goal is to get to 'Breakeven' by year-end"
"Wavexpress has 70,000 active subscribers"
2009 Annual Meeting - 6/22/2009 Knute 97 IH #179783
"Very close to break even - +/-$1/2M for quarter. Revenue @ 24% compound growth"
"Probably need another PP. WAVX owes outside vendors ~$3M. Not at payroll risk and no need for money for day to day operations"
"Making money in 2009 is absolutely an achievable goal"
From Snackman, IH#179782, June 22, 2009 (relayed from another investor at the ASM)
"Wave is a lock to be profitable in Q3 of this year"
"As to another PP. As of this time, at these levels, there is no pressure to do a PP at this time"
From bigbob, IH#179788, June 22, 2009
"Steve's forecast for CFBE has not changed since the last quarterly report; it will be within half a million this quarter and will be CFBE in the 3rd quarter (no doubt in his mind based upon growth of new customers"
2010 Annual Meeting - 6/21/2010 Knute 97 ASM notes
"Close to making money. Only company in the market"
"Large account very soon. Number of accounts next 45 days"
From Toro, IH#194722, June 21, 2010
"Strong revenue growth recent large customer wins are driving momentum"
From Jakes Dad, IH#194743, June 21, 2010
"SKS stated Wave has just quoted a large European company with a 28k seat opportunity just last week. He estimated a potential contract of 2.3 million could be on its way"
"Steven is much more conservative with managing the companies money then in the past. He stated Wave has roughly 4 million in the bank with no plans on any funding in the future"
2011 Annual Meeting - 6/14/2011 Knute 97, IH#211070
"Wave has a 92% compound billing growth and 'should accelerate'"
"Company is close to profit. Could have achieved in 1Q, but chose to invest in growth instead"
"Cash position has increased from $3M to $9M"
2012 Annual Meeting - 6/19/2012 Knute 97, AB#11528
"At the end of 2011, $6-10M potential accounts did not materialize in the 4Q. Some are starting to surface now"
"There has been only a 1% adoption of TC in the marketplace. Of this adoption, about 60% goes to Wave"
"Wave has a very large pilot running with the gov't today"
"Scrambls should have a direct $ contribution from a corporate setting in the next couple of months"
From Ramspower, AB#11546, June 20, 2012
"Wave Endpoint Monitor (WEM) - 2 pilots (large aerospace and DOD) in process to end in August time frame. Pilots are going very well right now - if successful, there is business matched up with these pilots that will appear in Q4 2012"
"Wave should be cash contributing in Q3 2012"
2013 Annual Meeting - 6/20/2013
JakeDad, AB#24055, June 21, 2013
'The Criterion Project is much larger than we could have hoped for. They are negotiating with the financial sector to bring Wave nodes to 100,000,000+ transactions. Steven used the penny per transaction ongoing as a good revenue generator. Don't be surprised to see a Paypal Wave PR in the not so distant future"
"Wave has over 100 million dollars in proposals to the US Govt. The sequester issue is a problem and no one knows how it will play out between now and 9/30 (end of fiscal year)"
Postscript
Will I sell my shares in Wave - no, not until we reach the potential that all long time Wavoids believe is possible.
However, in the immortal words of Flat (AB#24051) "Losing my A$$ and not enjoying it at all".
Best to all,
K97
PS - I will still volunteer to arrange the Las Vegas golf outing.
hi cypher, there is no doubt in my mind that at the end a number of people are going to jail. some will do more time, some less. deals will be cut for some but not others. you know how it is.
the spragues, their mb surrogates, the pp guys... i always wonder how these people can sleep at night. but i guess the same can be asked of Benie Madoff or any other white color criminal
they are corrupt and greedy because they have dozens of phony salaries for members of the sprague family. the company is set up as a money laundering machine for the spragues. it makes me chuckle to read about their so-called cost cutting. they could have easily gone b/e this past qtr if they wanted to. all they needed to do was cut all the bogus salaries starting with Michael Sprague's who's supposedly is in charge of Scrambls which after all this time still does not work with Microsoft IE :)
and it's not just the salaries. they pay "travel and entertainment" expenses for all these folks.
that's why wave is a scam. this is nothing new. everybody knows it.
cypher, sks admitted a year ago that wave's pc tpm chapter is over, and their focus is on the mobile market. why? the answer is obvious. msft does not have much of the mobile market share. however, if TC takes off, msft will be forcing government agencies and enterprises to switch to windows phones and avoid mixed environments.
the bottom line is wave is competing with msft which is a losing battle from the get-go even if they had a brilliant management team instead of this corrupt greedy stupid bunch
it will hit $2, sure. after 1:10 reversed split. this company is nothing but a scam.
sure ten bagger from here. 10 cents by september!
pp at 32 cents. was there ever a lower pp? pathetic. 40 cents sp now. great! congrats! see youall in vegas!
you're 100% correct! eom
congrats! i'm surprised but not shocked. so the scamming will continue. get ready for pp announcement. lol.
hey! what do you expect? at this point they have laid off almost everybody. just a fat bunch of spragues left and most of them probably don't even show up at the office.
there is no new revenue, just a bunch of leftovers from old deals and the money from Dell are all but gone. nobody needs their products anymore because of microsoft. they just split the sp down FOUR TIMES to try to stay listed on Nasdaq and still failed. the delisting is coming any day now pending a short and swift hearing. but they will probably find a way to con some folks into averaging down trying to catch some fantom success that's just around a corner, won't they? as usual. what a scam! pathetic.
sks had his moment a few years ago when GM landed by accident on his fat lap. what did he do with it? hm... sorry, but at this point msft can manage TPMs and if you think for a moment that the us gov or a large corporation will entrust their security to wave over msft, you are truly dreaming.
wavedreamer, at this point in time TC success won't mean anything for wave. they're out of the picture. finished. bye bye.
dig, i think because wave's investors pool (or swamp rather) has pretty much stayed the same for the past 15 years, those reversed splits do matter. there are no new investors whatsoever. it's the same old crowd as any ASM would show, or just take a look at who posts at the message boards. it's been a pretty terrible game of averaging down for most, has it?
return, with wave being investigated by both sec and justice department, sks had to be very careful about what he says publicly. so the hype has been left entirely to the pp participants and their associates.
the truth is if TC takes off, companies like Microsoft will make tons of money. Wave? barely enough to pay salaries and bonuses and expenses of the numerous members of the Sprague family
This week is the last time WAVX sp will ever be above or anywhere near $1. delisted and at 10 cents or lower in august!
WAVX = ROOT OF DISTRUST AND MISTRUST! NOBODY NEEDS THEM OR WANTS ANYTHING TO DO WITH THEM!
what i posted about de-listing is a FACT. and there is Nasdaq paperwork to prove it.
you wanna prove that wrong? go ahead. let's hear it.
the decision to delist wave has been made. the notice has been issued. the rest is just a procedural formality.
barge, here's THE TRUTH about Wave's relationship with ID as well as dozens of other distributers: THERE IS NONE. It's a piece of paper not worth more than the paper it is printed upon.
In the 20-years-plus scam that is Wave, another "distribution agreement" was all they could come up with in order to orchestrate another PP along with a usual pump and dump of the freshly printed shares.
The same thing happened before how many times? I have personally lost count.
This is an outfit that loses money consistently for over 20 years (not a single profitable quarter which must be some sort of record for a Nasdaq listed company). The only way it stays afloat is by printing millions of worthless new shares. People who buy them are simply conned. There is no other way an intelligent person would look at all this.
Thank goodness, this is about to be over. Delisting has been announced and is coming shortly. So-called Nasdaq hearing or whatever it's called is just a formality. Won't take more than a minute. There are no contracts, no new business that Wave has and can show to the stock exchange. Sorry, fake dots don't count.
it amazes me, blue, that after all these years they can still orchestrate this, even though the sp was just reversed split 4 times! even though the delisting notice was just officially issued! and even though there is no even a hint on any new contract! tells you a lot about you know what. lol
it's a lot of shares. in order to get rid of them at higher prices, PP participants need to orchestrate a massive pump and dump. and that's what's been happening for a couple of days. it's the same thing, every time.
the pp has been arranged. they know how many shares and at what price they will receive. as you know, it's always at a great discount compared to the current sp. so in the meantime, they are selling these shares short.
of course it's another pp. same old pump and dump by those who are selling their pp shares short right now.
snackman, you posted a few months ago that sks emailed you about new samsung/wave mobile product he expected to be out later in the spring. have you ever followed up on that?
hi zen, you wrote "I have never heard IR put out a blatant lie". LOL.
I do stick to facts. always. unlike the spragues and their surrogates on message boards that have been spewing nothing but lies for 20 years all the while lining up their pockets with gullible shareholders money.
hi rest, after your announcement a couple of weeks ago i thought there are no more distributors left for wavx to partner up with, but behold todays news. they found another one :)
if only anybody wanted to buy wavx products...
this is in reference to our price predictions that were made back in Feb. sp was at $1 back then. we both predicted a 10 bagger, did not we? 3 weeks left to see whose prediction was more accurate.
unless mikey sprague works his magic with scrambls, and google or apple snatch it for a cool 100M. after all, rumor has it he WAS wearing google glasses at AHM all the while chewing on a juicy apple. wink! wink!
oh, i forgot scrambles still don't work with IE. never mind. he did look dashing in those glasses though i bet :)
so you heard this from some robert guy who supposedly heard this from ir:) lol.
it's just another lie being spred by the spragues and their surrogates to keep people from selling this worthless pos.
and as far as basf, basf happened a looooong time ago, long before msft came out with windows 8 and put the final nail into wavx coffin. at this point, NOBODY needs wavx. they're finished.
just wait for another PP at 50 cents to keep the lights on. 10 cents or less by august!
just a disgruntled employee... sorry, body. unless your last name is sprague or you are married/related to one, no bonus this year. and the only person in the office getting those cool Google glasses is Michael Sprague. he needs them for... hm...
no amount of lies by the spragues and their surrogates will keep this pos from going down to single digits in a matter of weeks. 10 cents or less by august 1st.
from awk earlier today:
At the ASM Steven was talking about a "brief window of opportunity for share holders to accumulate before The Street does..."
I happen to believe that this window is right now.
Provided that the Nasdaq listing committee will approve an extension to comply with the Nasdaq listing requirements, a reverse split is likely not going to happen for at least another 6 month. And within 6 months I fully expect several contracts to be announced and a reverse split scenario would completely disappear. The shorts will have to initiate a structured buying spree... they may even get surprised a bit...