Lone Lobo: If the SP is dropping, I don't think you are talking about accumulation. I think you are seeing longtime longs exiting Wave, perhaps with a few chastised institutions unloading too.
The curtain is about to come down on Wave. Isn't 11 cents a share after 2 R/S and a third coming up, proof enough after 27 years without a profit that not much is going in Wave?
Does the company's statement the way to judge Wave's progress is to watch billings--and then the company won't provide the billings, and instead comes up with ill-written excuses. It looks like gross incompetence to me--same as before under the Spragues.
Whenever there is a push to hide an important and informative number, one can be assured there is a good reason for the concealment.
My guess is the billings number was so low it would have been embarrassing to reveal it, because it would have put the veritas tourniquet on the gushing wound that was the myth of Wave riches.
This flimsy number Wave is concealing (possibly illegally) after just telling us to watch those billings, is a good clue to the chaos going on inside Wave.
On the St. Elsewhere board publication, TKC, a Wave hopeful who has posted and debated civilly with others wrote to Investor Relations for an answer to this question. Here's the garbled reply, worthy of SKS himself.
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"Nov 27 To IR: Please inquire of Mr. Shepard what Q3 billings were and provide that to me.....
Just received response: "Hi xxxx, sorry for the delayed response. Their billings were not disclosed in the 10Q but we will look to providing an answer in some future disclosure if at all it will possible. Thanks, Tanya"
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Wave does not have enough employees to staff a big deal if they ever made one. The company is behind on its bills, is shut off from financing the payroll and etc. by selling anything more than pieces for short money.
The company is in default of two Naz listing minimums and is three weeks and a day shy of a big bridge loan due--which if not paid, could be the end of the company as we know it--due to the onerous terms of the loan (107% interest) and the dire penalty for non or late payment.
The auditors have quit for unknown reasons [this is almost never a good sign.]
IMO, the end is real near. The tri-headed military mgt has finished off this company in true Wave fashion: big lies about profitability and deals coming any minute (for the last two years)
and about the viability of this all-but-dead company going forward.
Sadly, Solms's lies are virtually the same as those told by SKS. And for decimating what was left of shareholder value, the BoD gave Mr. Chickensh*t Solms (he hides in his spider hole) a big 'performance' bonus. Deja Vu!
But under the biodome elsewhere, there is this from yesterday:
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"...the wildcard is Mr. Solms. I believe he is extremely dedicated and not to be underestimated. Just judging by some of the things he has written, he is passionate, intelligent and knows the business. He has a military background which means he knows a lot about strategy."
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Trust and belief in Mr. Solms, why, even after he has lied repeatedly to shareholders about deals and profitability--just like SKS did.
Those are some of the good reasons why the SP is about a penny a share, split adjusted--before the next big R/S coming up soon.
Which comes first--total collapse or the R/S? IMO, it is irrelevant. Either way, IMO, it is Taps for Wave.
Blue
