Can't be long now. Share price down to single digits--less than a penny split adjusted.
The company has filed a pre-14a with dates left blank, but month and year (Dec. 2015) filled in for the meeting in DC to approve the R/S.
Once again, the company is asking shareholders to approve a R/S of indeterminate consolidation of shares, without giving shareholders a shred of information on which to base their votes.
Perhaps at the last minute they will rush some plausible (or not) explanation of why they want another reverse split and what will be done with the money raised if allowed to stay on the Naz for one last brief fling.
Instead, it appears the company is relying on past 'leaders' to recommend approval because they claim any other option is simply not available--w/o the R/S it is over.
Except there are other options. If I owned shares, no way would I vote for another R/S until the mgt promised me the money would not go to 'performance' bonuses or any golden parachutes for mgt.
IMO, management past and present have crapped on shareholders early and often, while removing millions for themselves.
In my 20th year of following Wave, I can not recall a single instance where shareholders were given even the smallest consideration, other than worthless words and more empty promises.
Instead, shareholders have been taken for granted, and for stupid, for allowing egregious behavior like continuous lying about the break-even point--with the 'leaders' claiming success was coming closer, while reality showed it was getting farther from actuality.
I would vote 'no' until I was given some assurance any new funds raised as a result of the R/S would not be wasted the same way the other hundreds of millions were squandered in the most irresponsible and incomprehensible of spending sprees characterizing most of Wave's long and sordid history without any profit at all.
Of course, the 'leaders' of other publications no doubt will advise otherwise. If Wave history continues the way it has, the 'leaders' (wrong unerringly) in the past, will IMO, steer their followers to the worst possible path they could take here at the end. That has been the history here.
That and the 'leaders' telling follower things that mattered a great deal, didn't matter at all--when it was crucial to understanding Wave was not progressing whatsoever.
It was all hot air about manifest "ubiquity," first to market, only product with remote mgt, finest and best security product available, stealth, financial riches--and so many other subjects about which the 'leaders' gave their wrong advice, leading to horrific losses.
There's not much left to take, but I'm guessing the Military Triumvirate now 'running' Wave will squeeze a few more drops from its wrung-out corpse, before closing the doors. Hey, what about funding golden parachutes?
I'm guessing if there are any parachutes to be deployed by mgt, gold may not be the best color to describe them. I think they will be considerably more modest than SKS's golden, million dollar kiss as he went out the door.
Looks like the last remaining sheep in the corral have decided to ride Wave down to the end. Just what mgt was hoping for--a chance to sop up what little gravy remains before saying bye-bye to those who have funded this train wreck.
Blue
