Cypher: My source tells me the company buying up the assets is one noted for buying 'distressed' businesses, cleaning them up and readying them for sale--just like you said.
Their record is actually pretty good.
But, like you, I am so cynical about anything connected to Wave, either the old sucker machine that ran so well for so long, or a company buying Wave's ghosts. There never was much of anything there.
Solms was only interested in the TPM 2.0 and bet everything on it. Meanwhile, Safend, Wave's much-bumbled purchase, was actually starting to make revenue. But Solms pushed that aside and directed all efforts to the Wave TPM.
IMO, it was a disastrous decision that formed the bright red cherry on top of a massive sundae of unbroken disasters. He was as inept and dishonest as Steven Sprague was, perhaps even worse.
Solms's military mind could not engage in simple business basics. Like, don't trash your one performing asset in favor of some potential gold strike far down the road.
But like Sprague, Solms lied freely, citing traction he claimed he could see starting to form. Clouds in his coffee, nothing more.
Wave may have been set up as a legit company to start with, but once going, it was sure operated with the sure hand of a small town carnival charlatan. "Step right up, place your money and win a really valuable prize."
And, like flies to honey, it drew in the rubes like myself with money in our hands, jostling to be the first to buy boodles of shares, doubling down every time the Wave rumor mill looped out another big dream, erasing and replacing the former dream that died on the vine.
That enormous flow of money, energy and support from the shareholders, IMO, convinced SKS, it didn't matter if Wave was ever successful. They could string the shareholders along with just empty promises, each more grand than the last.
And the cult 'leaders' approved every stinking, stinging scam, or told us it wouldn't matter when we were rich. When? Oh? happening soon--don't be out of this stock over the weekend--you might miss the rocket launch.
So many friends rode it down to the crash on the rocky, sandy floor of Death Valley, thinking any moment this flightless bird was going to sprout wings and take all of us shareholders to the moon.
The alleged big champagne party in Vegas was part of the fishing lure. People who worked hard for little money actually thought they soon would be buying flutes of Cristal for each other, or bathing in it.
Lovely dream while they slept. LearJets, yachts, Tahiti vacations. Nightmare upon awakening.
Shareholders had less chance of making money from Wave than a passerby has of guessing the right card in a street scam, called 3-card monte. [Perhaps the derivation of that word, mountebank--came from that popular big city scam.
[Mountebank: a person who deceives others, especially in order to trick them out of their money; a charlatan.
synonyms: swindler, charlatan, confidence trickster, fraud, fraudster, impostor, trickster, hoaxer;
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After 27 years, nearly half a billion gone, the stunned supporters are asking what happened? What happened was they fell for a long-running scheme, dependent on shareholders trading their hard cash for lies and empty promises. It worked. The Wave execs are all rich; the shareholders broke and broken.
Blue
