tkc, It's just total speculation on my part.
However, I firmly believe that BoA is the S.E. financial institution. I also believe that B.o.A. is agressively rolling out SED management. I think it's extremely "hush hush" because they're waiting for Julian Assange and Wikileaks to make their life miserable. If I put myself in their shoes, I take steps to correct my exposure internally (Purchasing and deploying ERAS, but I keep everything "under wraps" from a PR standpoint - why stick your toungue out at the bully?)
B.o.A. would certainly have made it very clear to Wave that they will NOT under ANY circumstances be a marquee account.
So you have that very important win, because it gets Wave into an entirely new sector, one that desperately needs the technology.
On top of that, I'm still hearing echos of SKS's statement during the Q4 CC that "Q4 is shaping up to be the best quarter ever". While he may have been alluding to the expansion of the Automaker deal, I get the feeling that it goes much further than that.
I know that some valuable members of this board found evidence that S.C. and Alabama have purchased product. Yet Wave hasn't touted those successes. I call this my "cockroach theory" where you find one, there are others lurking that you don't see.
You also have an interesting dynamic with the shorts. Many on this board have been ridiculed for their devotion to Wave over the years. You have the Danny Hakim's of the world poking fun. Even the staunchest Wavoid has to admit that the loyality of the Wavx investors is unique.
What I haven't seen discussed is that there's just as strong of an anti-Wave bias amongest the shorts. These aren't your typical shorts that trade in and out. Some of these folks are absolutely convinced that SKS couldn't manage a paper route let alone a 300mm + organization. They're as staunchly negative as many Wavoids are positive. They refuse to admit they're wrong and refuse to cover even in spite of an approx. ten fold increase over the last 14 months.
What an epic struggle, what a wonderful case study for a masters course on equity investing. (As an aside, I think a Wave historian like Lugan may have a book here some day.)
Now put yourself in Stevens shoes. You're no longer worried about the risk of "on-going enterprise" for the first time in, well, at least seven years, you know you won't have to go "hat in hand" to the market to raise additional equity. You do however see that there's a changing business model. That at some point your margins compress as you migrate from a software company to a service provider. At that point you will need more capital.
I have no doubt that Steven recognizes this reality, heck he's spoken about it at length recently.
What do you do? You watch the stock price accelerate and you hold your tongue, you let those stubborn shorts that have been a "thorn in your side" for years continue their purchases. Then you announce a flurry of good news, your first profitable quarter, major vertical wins, big new account victories, and you ice the cake with an announcement that you've signed your first Saas / Cloud computing deal and showcase the scale of that market.
Point, Set, Match. The shorts fold, the stock moves sharply higher and you get to conduct business in a more rational environment.
That's how I see it, but maybe it's just a hallucination brought on by my cabin fever after a colder than normal winter.
Even if you don't agree I hope I was at least entertaining.
GLTA
