Escrow: You wrote: "I don't think he (Solms) makes statements lightly. If he said he is not worried about going over a buck and I am making a bet based on his confidence. Time will tell if it is misplaced trust. I gave that last guy many years. This guy seems more worthy of that kind of respect."
Why is it so many are willing to trust Solms after he states a bunch of goals for Wave, including CFBE by Dec. 2014, yet fulfills none?
Explanations for missing? Why, explanations are missing too, from the CEO who said he expects to be held accountable by shareholders and the BoD. Does this look right to you? [It doesn't to me.]
You are placing a bet on Solms's "confidence." How many times did I see that phrase explaining big buys of Wave in the past. "SKS was as confident as I ever saw him!"
Nothing ever came of any of SKS's many bold predictions about deals, revenue, seats, profitability, etc., his unshakable confidence notwithstanding.
Bill Solms almost looks like a mirror image of SKS's worst behavior. Missed goals, no explanations; deals done, are not done. Predicted conclusions of deals like Bell-ID, Samsung, the many pilots, etc.
Not a single sale so far of Wave's latest and greatest--the Virtual Smart Card 2.0.
Personally, before I invested another cent, I would want to see some sales (PLURAL) OF THE VSC 2.0. After nearly a year, no sales of the VSC 2.0 is extremely worrisome.
You have Q1 CC coming up in less than a week that in all likelihood will either be similar or worse than Q4 2014.
Whether Solms can get the price over a dollar for 10 days to beat the Naz delisting in July? I personally doubt it. Wave may be forced into a third reverse split--uncharted territory as far as I can tell.
Furthermore, I think the Q1 is going to drive the price down, if in fact, another dilution and/or another reverse split doesn't do it first.
What about Wave do you find so attractive and worthy of investing more money in a company that has tried and failed for more than a quarter century to make a profit? 98%+ losses for shareholders. A new CEO who promises great things but delivers next to nothing, unless you want to call that $2.3M deal of Wave's old technology spread over 3 years.
Here are Solms's exact words on the VSC 2.0:
"We did on the positive side launch a new product for Virtual Smart Card 2.0. It better positions us to sell our TPM Management software which amongst all of the Wave product portfolios is the most highly differentiated from our competition, and gives us the highest potential for maximum margin compared to the others, so compared to the other Wave products..." [Bill Solms, Mar. 5 Q4 (2015)CC]
I can not understand buying more Wave as it appears to circle the toilet just ahead of the flush. There are so many negative forces aligned against Wave's success, and so little positive forces to counteract all those negatives--at least in my view of Wave.
As far as Wave getting a piece of the security industry's "opportunity," has Wave yet managed to get a piece of that opportunity?
If so, I missed it. Can mere confidence by the CEO change things? I doubt it. Lacking confidence was never a factor under SKS and yet, he couldn't get the job done.
Best wishes and I hope your optimism is not misplaced, but I seriously think it is, based on the facts, rather than the apparent confidence of a man who has already made a bunch of head-shaking future-favoring announcements, a la SKS, none of which has come true, a la SKS.
Revenue for Q3 2014 was $4.3M Three months later, it dropped to $2.9M. Progress, or more slippage?
Personally, I would wait for some sales to come to validate Solm's confident tone.
Blue
