edit: what else did SKS *repeatedly* say?
"follow the supply chain."
fwiw, i agree w/24 that a plan to float common is much better than preferred (which can turn into the "death spiral" variety in a serious downtrend).
& the fact that they plan to float a shelf offering or a secondary THIS Q suggests to me that revs are not coming in to the extent that many might think.
i cannot believe that some are so hopeful that they are speculating another dilutive deal will necessarily lead to good news!
think about it -- if Wave was in good shape rev-wise, wouldn't they find another way to keep the lights on this year (especially when they coulda sold much more SSPX into the heavy volume)? if they have the future revs coming & needed to do a dilution, why do it *this* year? why not wait until the revs start kicking in & do an offering above $5?!? instead they're printing more shares just in time for EOY bonus checks...
also interesting that they have made no mention of a credit facility... that too suggests something to me about their confidence in the future revs (& don't want some creditor to have the power to force them into BK).
edit:
Snack: i'm not doing a Henny Penny thing -- SKS did not give any vision into the progress, other than the same sort of platitudes i have heard for years. if he had given some reasonable indication that things are moving along as expected i would have held.
he did not, so neither did i...
wavx will still be traded on the Nasdaq tomorrow (which just a few months ago was something that was seriously in doubt), so the glass is half-full.
off to see the wizard!
