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same cast of shady characters looking for a new batch of suckers
what ever happened to Safend?
All of what you said is true, but the counter-argument was "None of that will matter when Wave hits $100". It's pretty hard to argue against that kind of logic.
The Wavoids flushed pensions, inheritances, and life savings down the toilet. And now they want to pool their resources to hire an ambulance chaser to scoop up a few pennies out of the sewer. Someone asked a few days ago, why people are still posting if Wave is dead and gone. Hey, Wave is much more interesting dead than alive.
When Solms took over, it was immediate clear to me that he was going to ride this company into the ground. SKS's ego was so huge, he never would have walked away if there was any chance of success. Solms's job was to keep the boat afloat long enough for SKS to be "held harmless" when the company would go BK.
As sorrow turns to anger, I bet you are going to hear murmurs on the other board about shareholder class action suits
And let's not forget, a positive spin for every move in the stock. It goes up a few pennies on higher volume means " somebody knows something" and when it drops there is a "mystery buyer" accumulating shares. Meanwhile it closes ever lower and now they out of compliance on 2 criteria.
how can that be? Wave is the ONLY company on the planet that met all the specs
Looking for news after the bell? How about the status of the bridge loan, for starters. The R/S was poorly thought through. Since there is recent price history under .10 (now 1 dollar), there is no reason to believe that sub 1 dollar level won't at least be retested, making the split all but useless. They needed to do a 1 for 20, but were too gutless to make that move. Nice job Wave BoD. LOL
Wave has entered into a Non-disclosure Agreement..............with its shareholders! LOL
But the last PR worded in "Wave-speak" was more fluff. So the muzzle must be selective.
The BoD silencing Bill?
That's not the reason for the lack of a CC
That's not the reason for the absence of billing info
That's not the reason for the delay in Q3 financials
That's not the reason the latest PR had no specific dollar amount attached
That's not the reason investors don't know the outcome of the R/S split vote
So then, it should be a cinch to provide us with the exact revenue garnered from the purchase of these 2000 seats. Oh, and let me clarify, if you sell something at a price that costs you as much to service as you collect, that qualifies as free too. Sad, that this deal is all they have to show and so late in the game. Pathetic by any standard of measurement.
Wave Axiom: If they ain't showin' you the money, it's because there ain't no money to show.
30 dollars a seat? Try zero dollars a seat. This was a free giveaway being promoted as a last ditched effort to round up the last group of suckers to buy in just before the lights go out. It's typical Wave tactic. A PR release miraculously shows up, with no revenues, terms or conditions attached from some large but unnamed company just in time to save the day. The news couldn't even move the stock barely more than 2 cents. Two factor VSC pricing is doubtful to be substantial given the free alternatives, even if those alternatives are not as secure.
Wave Axiom: If they ain't showin' you the money, it's because there ain't no money to show. True 'till proven otherwise
Here is my purely speculative opinion on yesterday's spike and the predictable retracement of today. First, this was NOT new money coming into the stock. I believe this was a planned, strategic spike orchestrated by those who will benefit from the R/S and dilution to come. It was an attempt to keep the 1 for 20 split on the table. A further drop would have possibly killed the R/S. The retracement was almost guaranteed because the stock closed well over the VWAP of the day and it traded almost immediately back down to yesterday's VWAP at the open. Whomever orchestrated it, made a few bucks and is now out. Unfortunately it didn't create the desired affect. It was not shorts and not new investors.
so there are two obvious questions. will they even go through with the vote even if the shareprice is below or at .05 at that time? And, can they add an additional higher split ratio at the meeting if needed? I am guessing yes to the first question and no to the second. what say you, player?
So here is my "test of courage' question to all those over on the other publication to answer. The posters on this board have been nearly 100% percent correct about the path Wave was following. Some of us questioned the validity of the technology, others questioned the integrity of management and nearly everyone figured out that Wave's business practices didn't even pass the most basic sniff test. So my question is two-fold; why continue to sequester yourselves in a fantasy environment, and, why don't you test your investment theses over here where they will be challenged fairly?
What has always frightened me about NASDAQ, is that they allow such blatant failures to go on, costing plenty of fools, plenty of money
The "little birdie" turns out to be a turkey!
A little birdie told me that the auditors resigning and the delay with the financials are related, and, not in a positive scenario for Wave.
How hard is it to count revenue which rivals a hot dog stand? Wait, wait. where are the spin doctors to tell us how this delay must be a huge positive for Wave?
Wave has issued shares, for decades, with the sole purpose of meeting current liabilities that they cannot meet by selling product in sufficient quantity.
This go around is no different. Chief among the short term obligations Wave needs to meet is the bridge loan. Do you need a link for this? Really? Common sense won't do?
The only thing missing now is Weets coming here to tell us how this sale of unregistered shares is a "positive" for Wave. I still can't shake off his last claim, that, Wave's auditor quitting was a brilliant cost saving move by the CEO.
I guess what you're saying is "November is ours". Not quite as catchy as "June is ours", but probably equally as correct.
Ronle, actually with a successful investment, what matters is BOTH where you start and where you finish
The bottom line is, any fool can pursue his folly at 15.7 cents per share
When you are dealing with an "empty set", you can assign any properties to its elements that you like.
Throwing monkey poop at the wall and divining the future from the pattern it leaves on the wall is also a way to predict wave's future revenue stream.
A couple of flaws in our resident phys. ed. teacher's reasoning:
1) The firm resigned, they weren't fired for replacement by a cheaper service provider.
2) How can one assume a cost-cutting move unless one knows the current price for the service and the cost of their yet unannounced replacement?
I had another angle along with the one you expressed. Maybe Wave wasn't paying them, because they are broke. Maybe they are in arrears to other vendors and service providers. That would explain how they are running the company on fumes
Wow, with the interest they're paying for a 3 month bridge loan, I could have gotten them better terms from my buddy Vinny the Finger!
Snackman, I know that Wave Systems Inc. is the epicenter of your world, but, what resources do you think the SEC would deploy to investigate Wave's CEO on the basis of some letters written by the humble citizens of this message board?
The way to understand these comments is to understand that they are coming from Wave 'hobbyists' not investors. No investor in their right mind could view the events surrounding Wave as somehow being fortuitous.
Does anyone have a link to the Snackman Wave board? He keeps changing the location of his underground lair
Well, the next conference call ought to be entertaining!
As entertaining as your volley is, gentlemen, the elephant is the room is not the listing hearing, it's the fact that Wave has cash for about another 30 days. At .25 per share any capital raise would be about 50% dilutive to the existing share count. That of course assumes that they would be able to raise any capital at this point. The still can't sell any of the Wave core products, and the CEO is still inept. not to mention, their market cap deficiencies would still exist. So, even assuming they are granted the extension, how to they continue as an ongoing concern?
player, I have come to appreciate your sober outlook on things over the years,but, if what you are saying comes to be, it says very little for Nasdaq with respect to protecting investors. The CEO has been in place for over 18 months, so, he owns this mess. The company is trading below the minimal market cap for listing and they are essentially bankrupt. So, if an extension is granted it certainly would make me wonder what it would take to NOT be granted an extension.
So I would be very curious to hear the opinion of those much smarter than me. At the time of this post, over 1 million shares have changed hands. My question is, who is absorbing those shares? The market maker can't be accumulating all of them, knowing that bankruptcy is imminent. Certainly some is short covering, but even that can't explain the buy side since the short position of Wave is not that large.
oy vay, you mean by selling the only revenue producing unit, Safend, they could attempt to keep this nightmare scenario going? Certainly possible. But 20mil is not what they can reasonably hope to get. Their situation is dire and a potential buyer knows it. Hey, but that gives me an idea, maybe I could sell my left kidney and right cornea to fund my compulsive gambling problem!
BMS, my thoughts exactly. As I was watching the Wave book today, I kept asking, who is on the other side of these sells? Certainly not anxious buyers. So there is definitely some "shmay-dray" going on here. Anyway, I've put the Manischewitz Malaga, vintage 5774, on ice awaiting your arrival at my bungalow in South Fallsburg. Wave is out of options and it's just a matter of weeks to wait for the inevitable outcome.
Not to worry, because they won't be in business by Labor Day. Here's why'
1. They have received the delisting notice and it will be hard to attract any significant new business.
2. they can't raise any more capital. Beside if they did, it would dilute the shares to near zero.
3. they are market cap deficient, and nothing will cure that but a stock price increase, and that won't happen without some new revenue announcements