Bluzboy
I agree that it is unsupportable to assume that there is a secret agenda to do anything but what the notice says. Also I don't buy into conspiracy theory either.
This is a negative surprise but I think there have been a number of good clear observations that each investor should consider.
It is quite plausible that the Nasdaq input was that they needed something like this in place or they would be bumped. We have assumed it would be to the capital market but we don't know for sure. I've thought that being on the capital market was not necessarily a real issue from a financing perspective or from a business perspective, but that may not be the case.
Although I have never performed any statistical analysis myself, I think it is widely agreed that a majortity of the companies who undertake this action find their share price dropping and many have not stayed in business viably afterward. However that is not a function of the reverse split itself but due to the universe of companies who have needed to take such action. It may be as simple as if Wave does succeed in selling their product, then it will work and if not it will fail. I'm also not sure whether staying above a buck for ten days restarts the entire clock in this case.
Psychologically there are clearly issues since it is a negative surprise and without additional information, it is reasonable to surmise that meaningful revenues and other successes are not coming in the short term. But not knowing specifically what Nasqaq said and the implications of different actions, that may not be an accurate assessment of the future.
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