rachelelise: You write:
"This is not a good place to be. But we are here and thus we need to make the right next step. Not wish that some other action had been taken three years ago."
I think that's the most important point anybody could make right now.
Nobody contemplates doing a reverse split just for the hell of it. My surmise is that they need authority to do a reverse split as one element of the plan they're submitting to the NASDAQ for meeting the minimum-bid requirement. In case revenue-visibility doesn't bring the share-price up sooner, they need to be in a position to do a reverse split to put the stock above $1. They have decided it best to avert delisting because, until they break even on cashflow, they will need to raise new capital and, if delisted, new capital will come on uglier terms.
Having to consider doing a reverse split is bad. It shows that Wave remains on the brink. It's as though they're playing baseball with a game-clock: they have to swing for the fence because there's no time for just getting on base.
If anybody wants to be angry about something, be angry that you were led to believe that the runway was already long enough for takeoff. The problem is not that they might choose to do a reverse split. The problem is that they might need to do one.
Best wishes,
John
