Wave Systems Corp. (fka WAVXQ)

[rachelelise]

going fishin

There are several areas where criticism could be justified.

First is the degree to which people have been mislead in 1999 to 2003 Certainly Wave did little to curtail excitment when it was misplaced and in fact they helped fuel the flames. I have done the same thing to some degree in sales situations but that doesn't make it right and there are thresholds that shouldn't be crossed. There is clearly some differences of opinion here.

Second is the way the funds from the 120 million financing were spent. Clearly there was exuberance throughout the marketplace but Wave clearly misjudged the market and revenue expectations a lot. It's not any one deal that I would criticize since that is a retrospective jab but in the aggregate they were not good stewards of the money. And their business strategy did not align well with the realiities of the market.

Third in more recent times, the misjudgements of revenue incidence and their financing strategy causing serial dilution at decreasing prices.


I think most IHubers understand now the difficulties that have been encountered and just what a tough job it really has been to accomplish Wave's goals. And it is hard to argue with their successes and positioning over the past several years. I think your post refers a lot to Wave's modern history and a lot of the criticism is based on periods before then.