Escrow: You wrote: [Solms] "...hopes to have it closed very soon..."
Doesn't that sentence capture the essence of the frustration of the shareholders--it is never here and now, but somewhere 'close' down the road, around the bend where we can't see and it almost never arrives and on the few occasions where there are sales--they are tiny and far from what is needed--a cascade of deals with real revenue.
If you think a $150K deal is something good, when it is only the second announced sale Wave has made in Solms's tenure, you may expect profitability real soon. I don't. I expect Wave to end its days not too long from now. Death by implosion.
The fantasy of vast riches for Wave shareholders has always been nothing more than a fantasy. Perhaps at one point it may have been possible, but IMO, doubtful.
For most of its years, Wave was led by a greedy pack of parasites who said they cared about shareholders, but they only fattened their own wallets, not ours. Ever. Same is true today, despite the appearances of Wave's sales folks working hard to "make it come true."
Can't happen, IMO. Wave is stuck in a narrow niche with lots of competition from companies making millions from security--while Wave scratches around in the chicken yard, finding only the $150K crumb.
As for the present and the future of Wave, I have the opposing view and completely agree with Cypher--if Wave had anything else in the bag, they would pull it out before the quarter closes--now down to just six biz days.
I think the mgt personnel of Wave are exasperated despite all their efforts, sales are few and far between and what little there is, is small--this latest "renewal" is tiny. Whack the entire $150K into quarters and you get $37,500 per quarter--a mere drop in Wave's giant bucket of needed revenue.
But somehow, you see this as a sign of change and also the beginning of something good. I see it as a continuation of the bad and the same lack of sales dogging Wave for more than a decade.
I suppose it is viewpoint that explains the dire differences in the way we perceive this minor sale, but for the life of me, I can't see how this moves the needle at all.
Wave seems stuck in the small or no-sale zone, despite the replacement of sales personnel and a renewed focus on revenue. Same results, unfortunately.
Meanwhile, as if there were not bad enough, a whole host of other problems are bearing down on Wave. Not the least of which is the need for more funding (dilution) and a possible third reverse split to keep Wave on the Nasdaq Capital Market where it is far easier to raise money selling shares than it would be if Wave were back on the pinkies.
If Q2 closes with only this $150K reported sale, it is likely to cause a severe downdraft.
Shareholders are getting tired of excuses for Wave's consistent failures to bring in significant revenue and instead are given 'goals,' 'targets,' and more promises of traction just ahead. But the timeline keeps stretching out like rubber bands. More promises after almost 27 years without a profit?!
IMO, Wave is releasing this small sale news because there is no other news to announce. If that be true, Wave is in deeper doo-doo, than even we critics thought.
Best wishes--Blue
