New products in development are good, but yet, not quite the same thing as new products selling well--or at all.
Same thing for Wave's many memoranda of understanding. Not quite the same as contracts with revenue.
Unhatched chickens, eggs yet to be laid, hens not bought yet--these all fill Wave's basket to the brim. And not a one of them has brought in a penny of revenue.
After more than a quarter of a century's worth of trying to make a profit, one might reasonably conclude--with Wave, future hopes are for dopes.
Wave's VSC 2.0 is currently the entire future of Wave. It was announced last July, strangely, without an accompanying partner. In nine months, not a single sale of the product forming the foundation pillar for Wave.
Wave, always leaning far into a future that never seems to arrive, despite many predictions from two CEO's, one CFO and an army of loyal supporters all singing the same song, "it is coming and it is going to be huge."
But where is there any validation? Why, despite so many promises, Wave's future always remains in the future, never in the present? Wave's future automatically recedes into the future like a highway mirage does. It never seems to get any closer.
Look at all the companies cited to give Wave oodles of revenue: IBM, HP, INTEL, DIEBOLD, HAUPPAUGE DIGITAL, ATMEL, SEAGATE, DOCOMO, PHOENIX TECH, SAMSUNG, MICRON, BELL ID--so sorry for this partial listing--my fingers got tired of typing all the names--but you get the picture. Potential up the Wazoo, but results non-existent.
When Wave has landed a big contract, like Dell, GM, PwC, etc., they either drop Wave like a hot potato, or let the contract expire. Those who bought into Wave with contracts don't tend to stick around or renew.
So Wave's future is continually kicked down Timeline Road, like a beat-up old tomato can gathering more and more dents.
Not a great argument for a bright future--is Wave's history. Thus far, the past has been the best predictor of Wave's future.
As far as the market goes, the market sees not much ahead in the next six months for Wave--that's why the share price floats just above the 60 cent level and is why Wave is looking at its 3rd Reverse Split by summer.
So if we only count the beans dropping into Wave's bucket, and don't count those beans yet to be planted, not to mention, harvested--it doesn't look so bright from that perspective.
Dots, deals with no dough, MOUs, big tech 'partners' and all the other hopeful signs supporters cite in lieu of actual results--keep that Wavx future alive and bright.
For those of us who only count revenue when it drops into the bucket--the perspective is quite different. To us, the future of Wave looks uncompromisingly grim and bleak--just like Wave's long past. We don't think you can bank all those promising signs and so far, history has proven us right.
Wave still has until a week from Tuesday to announce something in Q1--unlikely, IMO--which, if correct, means once again, after BIG TALK by Wave's new CEO, the results will again resemble the deadest and baddest days of SKS.
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