Proposal 2 wording found interesting
"The Company might also use the additional shares to frustrate a third-party transaction providing an above market premium that is favored by a majority of the independent shareholders."
Over a year ago, I thought SKS answered a question about a Wave's protection against a possible takeover attempt, he said (Paraphrasing) "he didnt know how successful Wave would be in combating such an attempt since the Class "B" versus Class "A" share ownership structure had changed and reduced the original protection features"
If my choice is between dilution and continuation financing, I chose dilution. SKS has more information at his disposal than any of us. I will trust him to share what he can when he can.
What on earth would his reasons be ? Whats the upside for him to keep investors in the dark? Wave, at this point, is not in the Enron,AIG class.
In see 2005 as being a bit brighter (not breakeven) and 2006 picking up 2nd half given the current economy. If economy turns sour then the slog will be longer. JMHO!
