Wave Systems Corp. (fka WAVXQ)

[mymoneybgone]

The quarterly reports mattered because they gave the picture-the dire picture- of the state of the company. Your argument about the companies they were supposed to be involved with is a bogus false equivalent because they provided what amounted to zero to sustain wave in revenues as a going concern outside of DELL. DELL was the only name to pay attention to and this is the facts because when DELL pulled back the company was in effect dead.

What the shareholder don't like to see was that yes all those deals that had big names attached to amounted to nothing and I believe that the costs of all that was floated by wave.


The class action has a few problems IMO. The pipeline since it was never seen was reported by the former CEO who then had his claim refuted by the incoming CEO. Show me where there was anything material that had dollar signs attached to it and I will show you where there was a case. There was not. The reports filed with the SEC spelled out the warnings about the business every quarter which covered their asses. Anything that was said on these boards is not reliable. During the CC there was never anything solid-it was always couched, but the shareholders always ran wild with the nuggets that were released. Granted it was feel good speak for the numbers, but there is no liable in the fact the CEO said I think we might see breakeven in the next couple of quarters. He would often say there were deals in the works-those things fall apart. Did we ever hear of a contract being signed with legit numbers offered up? Never. I can recall questions being asked about trials and how much revenue was going to be brought in and the answer being I don't have that number right now,that's not something you can litigate.

Yes it was cut and dried for years. Go back and look at the statements. Go back and read the comments. A few years before DELL dried up but talked about renegotiating their royalty payment were started disecting the numbers and I felt certain the numbers were falling faster than the renegotiated deal would allow if they were moving the same product. Red Flag. The fact that they were selling receivables for cash under Sprague going back a few years was a huge red flag.

The first mover advantage was a smokescreen and the shareholders need to stop clinging to that narrative because if that was the case it should have been selling and it was not. The only revenue the company ever generated was by being inside DELLS box which guaranteed them payment. DELL cut bait on them when they realized they were paying for something that added zero value to their product line. Thats a fact. the lack of any sales anywhere to keep the company going backs that up.

Those who bet on this company and the CEO's running the show bet wrong, they bet wrong on the people they followed on the boards and they bet wrong by following those who claimed they knew the technology wrong wrong wrong.