S-man: I don't have any Wave stock to sell. I have been out for a long while. Years. I put my money where my mouth was, outside the Wave ring. I could see what was coming--I've been in since 1996 and once held 47,500 shares--before either of the reverse splits. [Some of it was on margin--and lost when Wave tanked.]
As drastic as Wave's situation seems now, only worse news awaits. The NASDAQ hearing on whether Wave can stay on the Naz's Capital Market or go to the pink sheets--any day now. Pinkies=disaster
Funding: Shelf may not be accessed, set by securities rules. At the current price, the usual 20% discount would not be enough, given the pennies involved and the high risk factor Wave may go under.
It sure seems to me they have come to an end. No more hopeful statements from Lee and even if they did make optimistic statements, they would be likely be disbelieved, due to past such statements that came to naught.
This company has peddled mainly dreams since inception. Any chance the company may have had for success, IMO, died more than a decade ago, when CEO Peter Sprague handed the company's reins to his woefully inadequate and insecure son, Steven, a known pathological liar.
There were a few exceptions that came along rarely, like Dell and the GM deal--but just often enough for the Wave balloon to look inflated to the uninitiated or to the blind-hold-the-tiger's-tail-at-all-costs shareholders who swallowed and digested Steven's repeated lies about being on the cusp of profitability without complaint. [GM did not re-up with Wave & Dell (Wave's major revue provider) gave up on Wave after a few years.
And then, once Steven was gone, these same strong supporters began digesting the groaning BS smorgasboard Mr. Solms put out, especially for these shareholders, who either can't read a balance sheet, or didn't believe the ones Wave put out quarterly, lighting a path about as straight down as one gets.
So now that the company's big claims have largely been disproved as lies or over-eager evaluation by the new CEO and the strong supporters of Wave, knowing at last it is over--what are they doing?
Staying true to course, they are putting ghastly inflated prices on Wave's supposed sale price at the scrap heap, somehow expecting to salvage something after so many dollars left riding on Wave for way too long. More good money after bad.
Some folks go wrong early and then just keep on being wrong, without ever once considering perhaps re-evaluation of their tactics or re-assessments of their "givens." And much of the "given" about Wave was as full of feathers, bologna and bullsh*t as any blivet ever made.
The "big one" was circulated among Wave shareholders for exactly the effect it had on you--even though your rational mind was screaming to you it was a hopeless scam--but the fear of missing out on the mother of all gushers won out over logic, reasoning and balance sheets. It happened to most of us.
You must remember the posts by one "leader' who kept saying, "I wouldn't want to be out of this stock this weekend," implying a big liftoff was about to occur. [Ghost big one?]
It was all part of the scheme to keep you on the line, waiting for the gusher that never came because the leaders were inept, their products were failures, no true business plan for success and BS can only carry you so far. At some point, folks are going to want to see a little profit.
Ah, there's the problem. Profit. None in 27 years.
I hope you recover from Wave-itus as I did. It feels free.
Best wishes--Blue
