Alea: You wrote: "if wave is progressing it will show up in accelerated income.
there's no sign of that happening yet, but at least the decline stopped last quarter."
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You are among the bean counters I respect, because you simply count the beans that are there, not the ones "that will soon be coming in."
However, I am not so sure the decline stopped last quarter. I think the sale of e-sign helped the cash position, but that was a one-off.
It is important to stop the decline, but far more important to start sales. Sales have been frozen (reportable sales) for what? About 3-4 years?
I simply don't see the big deals and contracts needed to save Wave. I think Wave is essentially living off the last $10M PP and the future $15M shelfie. That is not a recipe for any kind of success.
Once the fat is absorbed, Wave begins to eat into muscle and bone.
I don't doubt the effort; I doubt the results--zero thus far.
I think Wave could be in the final stages as a company (as we have known it). The inability to sell is crippling. The present and the future is tied to it. Without sales, there is neither.
Assume for a moment, if Wave is unable to sell anything reportable before the end of Q1 2015--how long do you think the company has to survive?
The passing of two of Solms's goals without coming close to either is disturbing in the utmost and could cause a crisis just on its own, if after the Q4 results are broadcast in March, with the follow-up Q1 2015 a few weeks later--if no new reportable sales happen. The de-listing warning countdown is now more than half way to yet another de-listing notice from the Naz.
It is an evil confluence of bad things that may swamp the SS Wave--unless things change--and as time passes, change seems more and more unlikely.
Happy New Year--Blue
