TKC: You may be exactly right about that point. Your background enables you to pull meaningful threads out of a jumble which is purposefully jumbled (IMO) by Wave to obscure. I applaud you.
Specifically, you are right and I am wrong on that matter. However, Wave's salesmanship leaves a lot to be desired and always has.
Whether their piece-rate per sale ratio is up there where you put it, obviously Wave is not selling nearly enough in number and never has.
We agree, I think, about the inept mgt. and on nepotism and how both hinder the company badly in the eyes of both potential customers and investors.
I see Wave sales as encouraging, until one looks at expenses. You see a number. I see waste and wholesale squanderance.
Not sure if you were around back when Wave had minute revenue,[less than $20K] but still had a $400K/yr+ lease in NYC (it was mainly Peter's shack pad); a research facility in Princeton, NJ, which was actually in an adjoining town; an office in Lee and one in Calif; and an office in France. All of that against sales of next to nothing.
So, perhaps I am conditioned to suspecting the company of grandiose schemes, of using the illusion of a bigger company to cover the disaster that Wave has been over the long haul.
It is one thing to simply label Wave's hideous history as "past facts." It is quite another if those unfortunate errors in judgement, morality and integrity are an unbroken continuum in which major mistakes are continually repeated by inept managers. They do not learn, and why should they?
Where's the penalty for being wrong, for lying, for self-dealing? As we all know, the BoD is not the acute and observant kind who look after shareholders and who exercise strict governance. They have to be awakened to rubber stamp mgt's requests.
Anyway, I ramble. Thank you for your correction.
Best-Blue
