Blefang - I truely don't know what the answer to your post is, but it's either one of two things. One, is that you're right. And the other .... is that you're wrong. I too have my concerns, although they're not as exhaustive as yours appear. However, while I have not given up on Wave, I do know what it'll take for me to come to that conclusion. IT would have to be a clear cut lack of performance, when performance was promised.
The problem here is performance is always eluded to, but never promised in any tangible way. However, this time break even in 2004 by November run-rate standards is a tangible number (monthly or quarterly) that Steven expects to hit sometime in 2004. Whatever that number is, and I'll find out easy enough ~ if he doesn't hit it then my doubts will get significantly more serious.
The unfortunate aspect of this investment is that Wave is too heavily dependent on others for their success. If others perform according to Wave's expectations, all will be good (per Wave). If not, it's supposedly not Wave's fault (also as per Wave). That's where they and I disagree. It is their fault in my book, either way.
T123
