Re: Proxy Vote for ESOP and BOD --
As I was a shareholder of record as of 04/09 I received proxies and voted my low 6-figure shares: 1) to retain the current BOD(to minimize disruption of corporate business); and 2) against the ESOP proposals. If defeated, the BOD can return with a more reasonable ESOP proposal, a la Bigtim's, and obtain approval so that rank-and-file shareholders' interests can be treated more properly.
After 9 years, I am no longer a shareholder. I sold all my shares(prior to the Proxy issue) due to no longer being able to trust the CEO's public statements over the period including the last 2 CC's. I've been down that road before, lost everything invested in two very high-profile high-tech companies while watching the CEO's walk away with obscene millions, and will not go down that route again. I hope that the Seagate FDE/TDM/ETS thing works out well for WAVX shareholders, but am not convinced that even this will actually monetize this company's efforts.
I continue to monitor the company's progress, and may certainly re-invest if significant revenues ever materialize (and I hope they do, for the benefit of many classy longs), but I've finally been able to let go of the compulsion to be in this investment @ the basement level). If significant, sustainable SP increases occur, I'll attempt to capture a smaller(but safer) portion of the ride up.
Best of luck to all with sincere intentions!
John
AI
