Lugan: You wrote: "As the [ASM] meeting progressed it became very clear that he [Bill Solms] was in control of a well-organized operation focused on delivering results... and that WAVX has a product that can meet current enterprise security needs.
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Lugan, thank you for your thoughts after attending the meeting. Unlike you, I felt it was so sparse and thin in terms of solid things to put your hands on, as to be will o'wispy.
If Solms is focused on delivering results, one might reasonably ask why are there no Wave VSC 2.0 results a year after its debut (without a partner)?
And, if as you say, Wave has a product meeting current enterprise security needs, why are they not signing up by the dozens in this atmosphere of unlimited hacks? Where is one sign-up?
On another board, a poster put up comparisons of others in the security sector and their gross revenues....Fire Eye $425m last year, etc.
Do you have a good explanation for why Wave has been unable to sell security in the best market for it, ever? I do and I don't.
The easy explanation is potential customers do not like Wave's product for some reason and are shunning it in droves. It may be hard to install and use; clunky in usage; defective or undependable.
There are many possibilities, but the only real item to focus on is sales.
In Solms's entire tenure at Wave--in the significant sales sector, he has landed exactly one $2.3M contract spread over 3 years--and it was for Wave's older technology.
In my view, that neither constitutes 'delivery of results', or proof Wave has a viable product. In fact, it presents a strong argument against both.
Many of us see the trend as down. More dilution, a possible third reverse split, potential de-listing, and the apparent ending of Q2 without a single announcement of a significant sale. The dearth continues, it seems.
If you have the time and inclination, could you make a case for continued support of Wave? Knowing the timelines have just been pushed back yet again under the new leadership? Knowing one sale in a year and a half is tiny and little when much more is needed?
Best of luck to you, whither and whether--Blue
