slider, I don't see a "walkdown." What would you expect the s/p to do when over 5.2m shares are registered for sale, a significant portion of which IMO are being sold by the original Safend VC investors for tax loss purposes. Just because Wavoids have been fanatically steadfast to see the Wave project succeed, it's highly unlikely Safend's VC investors would share our enthusiasm. Just look at the downward trajectory of the s/p since the Nov 1 registration. Furthermore, perceptive shorts are just making this process more disorderly. The dumping of shares on the market is a holiday season present for the shorts if there ever were one.
What could possibly convince the Safend VC investors to stay invested with Wave, assuming they wish to hold some percentage of their original holdings, presently valued at a (tax deductable) loss. The multiyear track record of Wave's s/p? Reliance on our unreliable government for a market breakthrough? Management's serial miscalculations on the timing of critical large enterprise contracts necessary for viable growth?
I believe a large percentage of these shares are being dumped and could hold us down through year end, even if the mythical BEWML should ever close. Then, if some of the large SI pilots actually get underway on time in early January, and if the EMU resolves their sovereign debt crisis satisfactorily for the markets (a serious IF), then we should see the s/p start an upward move again.
