Wave Systems Corp. (fka WAVXQ)

[RoRo22]

Something certainly has to be done to shake up the board/management. I have been growing more and more skeptical about their ability to deliver on guidance and consistent growth for some time now, but really took heed from the last call where Sweeney laid claim to BE Q1.

Uttering something like that, and then having results with a greater loss than at least several previous qrts gravely damages management's credibility in the eyes of any professional and/or serious investors. And I'm sorry guys, serious and professional investors are needed to make the reason for our investment in this company in the first place come to fruition. You cannot have real investments based on hope; it has to be based on results.

Now I still believe in this company's ability and position, but there is clearly a disconnect between vision and financial results. And especially after being at a couple annual shareholders meeting, I can safely say that the Wave team does not instill a sense of confidence in me that a company's managment team should that wants to run with the gorillas.