This new funding is but one more compelling piece of evidence, Wave, for whatever reason, simply can not sell its wares.
This funding and further dilution of already diluted shareholders will drive the share price down into the 60-cent range and possibly into the 50 cent range, depending on how large shareholders react.
It also shows beyond a doubt, despite a new sales team, fresh mgt. and renewed focus--there is simply no demand for Wave, despite the rampant breaches and hacks affecting almost every business using the Internet.
And where is the leadership? Where is our CEO to help shareholders understand what is going on, after the CEO set high goals for himself and failed to reach a single one? Has anyone seen any accountability from the top?
Real leadership would come out, face the lions and tell us what went wrong and that perhaps there is a way out of this rapidly deteriorating mess. We get silence--yet another red flag, IMO. If there was a silver lining to this new dark cloud, we'd have been told about it.
I wonder what those involved in the funding were told? Perhaps only, that shorting against the box would make them money--if they move fast.
I am glad to be out of Wave currently and I fear for those still in.
It sure seems now another reverse split is in the future--but even that won't cure the market cap deficiency.
To me, the silence from Wave speaks eloquently, even if it is a message most do not want to hear.
Blue
