New Wave & 24601: Did either of you see any concealed good news in the Wave quarterly report? Were either of you uplifted by what transpired--that would be the reported sales figures minus concealed, held-back good news (zero).
Once again Wave has given expectant and hopeful shareholders a mouthful of ashes.
Once again, Wave has managed to go three months without a single significant sale, to add to the previous 19 months' inability to sell any reportable VSC 2.0 product.
What does this mean? Do you mean the Wave supporter meaning, or real-world meaning? Ah, the latter.
What this means is we will have a highly dilutive funding before the end of next month.
Roughly, at about the same time, Wave will have to address its continuing Naz defiency minimum of a SP below a buck.
Wave has until July to get the SP up over a buck and keep it up over a buck for at least 10 biz days. That means a two-week period.
I don't care how confidant Mr. Solms appeared and said he was about not worrying about the de-listing issue. Solms said he is confident about enough sales in the next two months to avoid it.
Given his record on both sales and hitting goals, given Wave's long history of not selling, no reported sales of VSC 2,0--I don't see how Wave can avoid a third reverse split. Two of them were bad enough--and good enough to erase a quarter century's old myth, that Wave would deliver. Wave has never delivered.
Today's CC is typical of all of Wave's CCs--the pungent and familiar air of disappointment and the sweet smell of more lies ahead permeated the atmosphere where the CEO had to lay out a truly pathetic performance--after a lot of big talk about CFBE last quarter.
Bill Solms was unmasked today as the fraud he is, IMO. Turnaround expert? Yes, he is. He takes a going concern and sinks it pretty quickly, using the same discredited tactics as his predecessor. Either way, shareholders are hosed.
Wave's bag [the alleged pipeline) appears quite empty. Maybe there is a little hope in a remote corner of the bag--but IMO, that's all that is in there.
Wave is all done, IMO. This CC will drive the SP down, down, down. And a sinking share price is hard to get to go in the other direction when it is most needed.
So, here is my prediction: Dilution followed by a third reverse split--taking the company into total irrelevance and nearly total losses for the hopeful shareholders.
Read Cypher's post [post #241844] about Bill Solms's management style if you want to drive the last coffin nail into Wave. For example, from Cypher's post, "He (Solms) is an arrogant bully."
Another one from the same post, "He apparently has no time to listen, but plenty of time to just plain criticize, with no positive feedback whatsoever."
Cypher, whose Wave info has been accurate, reports employees are leaving Wave because of Bill Solms.
How much longer can the truth be hidden? One must close one's eyes and cover one's nose to avoid the sight and smell of rot on Wave. It's amazing the results under Solms do make SKS look like a genius.
These results today, IMO, speak louder than all the DD dots and faux rumors about big deals and contracts to come. Today's quarterly report was utterly devastating--but I fully expect to hear how it will benefit both Wave and the shareholders.
Blue
