The arc of Wave has been fairly consistent with a few irregular anomalies like GM, etc. That arc has dipped steadily to the south ever since the tech bubble popped.
In some ways, it is a tribute to the triumph of hope over history and experience. Supporters (and there are still some buying hand over fist)--a great strategy, if Wave was to rise to profitability from this point--an almost impossible task.
But the history of the company has a parallel arc, too. SKS just plain lied and knew he was lying when he kept saying profitability was a quarter or a year away--since 2003. In 2003, when he first said it, Wave did not actually have a real product--Wave had a design.
Unfortunately, Bill Solms has done a fine impression of SKS--making baseless promises of profitability, big sales to come, a pipeline engorged with huge deals, lots of little deals coming, too. None of it true, so far.
Like SKS, Solms has hit not a single one of his goals, targets, estimates, etc.--not a one--which prompted me to label him Windbag Willie early in the game--an outrageous and offensive moniker at the time. But time has proven Solms has no more clue about Wave's success than SKS did.
SKS knew he was lying when he told those whoppers. When Solms made those aggressive and optimistic statements, I think he did not know he would be unable to meet his goals.
However, as time passes and the single small sale of Wave's older technology rattles around inside Solms's otherwise empty bag, the 'Windbag' appellation looks more and more fitting.
Now, with Wave near a quarter a share and with former supporters running for the crowded, bunched-up exits, the consequences of all those lies and false hope, believed by so many for way too long, are costing those most faithful and most loyal to Wave, dearly.
It's nice to be optimistic, but there should be more base for the optimism other than the steady price erosion and long, long sales dearth Wave has experienced and is still experiencing. The facts were reported every quarter--but many chose to believe it was the calm before the storm of taking Wave's to alleged ubiquity.
When one starts talking about selling Safend, the only decently performing subsidiary Wave has,it seems to me it is akin to selling one's organs in order to buy food. It works in the v short term, but when you are down to one kidney, etc., life gets hard.
That's where Wave is now--surrounded on all sides with huge issues, Naz (multiple threats) Market Cap, min. SP and the $15M cap deficiencies. Shareholders are now selling in a panic after they were promised by the CEO a turnaround would happen, profitability would come more than two quarters ago, big sales, etc.
Now the rent check for all those lies and misstatements has come due and Wave is broke again, with little chance of raising enough money to stay in operation for long.
The immediate future is perhaps another reverse split, placement back on the pink sheets, or the end. Perhaps it may be all three.
The months and years of pouring tens of millions into non-revenue "ideas" like WXP, Scrambls, Rivetz, Knowd, etc., along with paying outsized and undeserved big salaries and bonuses to family members--have depleted Wave's treasury--in addition to the buying and investing in useless properties like ishophere.com.
Wave is on a respirator with life signs slowly failing, IMO. Standby for the Death Watch. The pulse of the company is slowing.
Blue
