Any long who supports this CEO to stay on board has doomed the investment to yield any return going forward IMO. This is a CEO who cannot take the blame wholly for the position this company is in.
This was a CEO that was fine when the company was meandering in this space. Now that the time has come for execution, the company still meanders.
The precarious financial peril this company continues to find itself in has damaged it's chances for survivla more than any delay in the market. The lack of fiscal prudence, and the abillity to forecast the real traction falls on Sprague's shoulderd. He obviously was the one who decide to expand the workforce when the demand wasn't there. They have a cherry position in the TCG we are told so that also gives them a prime position from which to forecast.
The deal they had with DELL at the time should also have given them enough data from which to make fiscally sound decisions. It seems quite clear that there wasn't a second thought given to what position other compaies might view Wave when it came time to decide on using their product.
They seemingly have everything in place but sales. It has to be the financial state of the company or the dealings with the company.
The fact that the shareholders have always been there to fund every whim has probably shaped the view from which the company should have been viewing their fiscal responsilbillity. I mean what a deal, they can raise cash at 0 when it's just shares being sold, hell the fees to do it were paid out of the sale of those very shares.
Anybody after reading those e-mails who can defend any of what has passed is not dealing with the reality in which this company needs to operate going forward.
It's quite obvious the right man for the job isn't running this company now, and hasn't been for the past however many years. Unless you consider being able to sell a overinvested shareholder base on more of the same. Then you have got your guy.
AI
