With Wave's share price currently sitting at 75 cents and the deadline for getting it over a buck by tomorrow's close, it sure looks inevitable another Naz de-listing warning notification is going out on Friday or early next week.
One can speculate on what effect such a notification will have on the SP, but I don't think anyone expects it to increase confidence in Wave.
Yesterday's close at 80 cents puts off the market cap deficiency notice for at least 30 days, but one wonders what the SP deficiency warning might do to the SP if it goes out as expected.
Wave can dodge the SP deficiency by another reverse split, but again, it will not help shareholder confidence. But if the SP deficiency notice drives the price down and keeps it down, Wave could be hit with the market cap deficiency, from which a R/S would not help.
As more time goes by without a significant sale, the new-found confidence in the new CEO drops, too.
CFBE remains elusive as ever. The much-vaunted turnaround which was supposed to begin in Q3 and Q4 2014 has been either invisible or non-existent.
The new shelfie is sitting there like a big, ripe peach, just waiting for plucking and savoring--which in turn will create more dilution and in all probability lower the share price even more.
Personally, I never bought the story about Wave needing to have a few million in reserve for big companies to consider Wave's product. I think if it worked and prevented some of the disastrous breaches we've seen, it would sell--but it hasn't.
At any rate, with Wave's reserves from the last funding draining away, it sure looks like the new shelfie will have to be used to fund ordinary expenses and operations--the opposite of what the optimists said the shelfie was for.
IMO, Wave is in an extremely vulnerable position and getting weaker every day that goes by without an announcement of some kind.
The way I see it, the immediate future holds some powerful bads coming up real soon, if there isn't at least one significant sale.
If one goes by the old standard that the market prices in everything that will happen to a company for the next six months, Wave is in a heap of trouble. Six months out will take us into summer. Personally, I don't think Wave can survive another six months in its present form without a sale.
By summer, we will have had the end of Q1 and Q2. If Wave continues to drift down, say at just a penny a week, by June's end, we would be below 50 cents--and that doesn't account for the flop-over effect.
What is the flop-over effect? It comes when many shareholders reach a point where they think there is no use in holding on any longer and they start to sell. The result is a sudden and drastic downdraft in the SP.
That's the course and arc of the company I see, if there are no significant sales by summer. It could happen much sooner, though. Bill Solms is likely to be grilled hard about what exactly is the problem--both in March at the Q4 '14 CC and a few weeks later at the Q1 '15 CC.
Problems seem to be stacking up even higher for Wave as its significant sales vacuum expands into this new year.
People who invested tens of thousands of dollars in Wave are going to be pressing for answers. The CEO's timelines have long since been blown past and explanations for those, too, will be on the agenda at the next two CCs.
IMO, Wave appears to be losing its race with the devil.
