Replies to post #241669 on Wave Systems Corp. (fka WAVXQ)

[aleajactaest]

hi escrow,

i think we have treated it exactly as you suggest.

1. see how the new guy does things.

2. give him a chance to design a new product.

3. watch for demand.

4. admit when things haven't occurred and when they have.

the problem is, some folks impute optimism over the top of item 4 regardless of the result, as opposed to looking at it square in the face.

9 months after the product launched, there aren't any major orders. there was no launch partner. the product failed to sell in the timescale the ceo selected for himself (year-end 2014). the 10K tells us wave expects to make an operating loss in 2015. here we are in april 2015 and still no major order for vsc 2.0.

if you want to let the timeline slip in just the same way as we did with sks, that's absolutely yours to do. but for myself, i am sensitive to slipping timelines. i think they tell you it is time to be cautious. it is time to start thinking what the issues are. it is not time to start fabricating excuses as a means to maintain one's optimism.

heck, there may be a reasonable and hopeful explanation. but you should never exclude the disappointing alternatives if they make just as good sense. it's important to retain discipline over one's psychology and one's pocket in the search for truth.

don't forget: the ceo is always going to provide an optimistic account. it is up to us to interpret other narratives.