The ASM: Once again, or better stated, still--Wave's future is in the hands of the future. Nothing is here and now. The alleged pipeline is 80% larger than it was last year at this time...yada yada ya. How much is 1,000 times zero?
How long will shareholders put up with expectations of deals, without any of the deals?
Solms may be confidant of a Naz extension by July 14th, but I'm not. Why? Their putrid history--one de-listing and numerous de-listing warnings issued. Two reverse splits saved them before.
Solms may have a plan to convince the Naz to let Wave stay aboard for another 6 mos., but the best plan would be to include sales. I don't see that happening in 3 weeks or so. Will the Naz buy Solms's confident manner if Q2 closes with no announcements? Maybe, but not definitely.
I'd consider Mr. Solms's assessment of the Naz de-listing issue in the light of his assessment of Wave's chances for profitability--only missed by 6 mos--so far and no signs of a turnaround, now almost a year overdue.
Throw in all the dozens of pilots and trials that were allegedly cooking in Wave's oven, but apparently boiled away into nothingness--again.
Anyone who comes out of this ASM thinking Wave has got a good chance, might need a serious reality check. It is more of the same--"trust me, we're turning the corner...."
Solms has had enough time and he has failed. Furthermore, after saying he expected to be held accountable by shareholders and the BoD, he promptly put the blame for the lack of sales during his tenure--on the previous administration's many mistakes--rather than admitting it was his poor assessment skills to blame for raising expectations without results.
I think Solms is a big fat dud who has no more idea how to rescue an all-but-failed company than the average park bench does. And he is not bright enough to stop making optimistic assessments and goals he can not meet--even though this is about the worst thing he could do as SKS's replacement. Disappointing.
What is ahead,IMO is a lot more dilution; more failures to sell; I would guess a third reverse split; and a possible de-listing from the Naz Capital Market.
The lies being told about why insiders 'can't' buy shares on the open market is a fair warning they don't want to throw their money away on Wave--so why should you?
There may be some salvage here, but in my mind, it is all but a total loss. The ASM showed there was nothing but more promises in Wave's bag. It's going to get ugly from here out.
Blue
AI
