CkngIn: Personally I believe it is foolishness to call SKS a good man. He lied and lied to shareholders about everything. It was not he was an incurable optimist, it was he was an incurable liar when it came to Wave.
"I can hit breakeven based on orders in hand"---SKS 2006
SKS did alright financially, too. He was paid more than a half million a year and add in the combined payroll of father Peter, Bro Mikey, bro Kevin, daughters, baby-sitters and Sasha, the nag nanny and you have a huge chunk of change coming out of the Wave treasury every month--that money was just out and out wasted and squandered on nonsense like Scrambls and WXP/TVTonic, as well as Rivetz, Knowd and other silly ideas without a chance of earning a dime.
As for the present CEO, he came in, setting big goals like CFBE by the end of 2014 and then promptly missed them all--explaining only by "I was a bit too optimistic."
Well, Wave's past is sordid. Its present is murky. The future is doubtful, unless Wave begins to sell and sell big soon.
If Q1 stinks as I think it will, Wave will be beset with heavy downdrafts in the days afterward, IMO.
Q1 CC is on Thursday. The first third of Q1 will be done this week. No news announcements, yet. Could be a dreary CC with falling SP afterward.
Not to mention that sneaky old Naz de-listing issue coming up fast in late June. That most likely will trigger a third reverse split and pretty much end the company's chances of ever digging itself out.
To add to the troublesome scene, Wave has yet to announce a single sale of its most forward and promising product--the Virtual Smart Card 2.0.
We are coming up to the first anniversary of VSC 2.0 going on sale, and so far there's nothing to celebrate. That may be the most worrisome factor in Wave's whole shaky house of cards.
Also not far down the road--maybe in our laps already, is another dilutive funding. That's how Wave operates. Wave can not pay its own way with sales. Instead, it sells pieces of itself continually, insuring anyone who buys today will be punished tomorrow with more dilution on top of an ocean of it.
Solms may indeed be a good man, but if he is to be judged by results, he is no better than his predecessor, who hit a low-water mark with abysmal mismanagementskills.
Personally, I think we could be looking at Wave's darkest days--coming up--hard to believe, considering the long run of abuses and the plundering of the past.
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