3 & 27: Perhaps it was a bad metaphor--steam. My latest theory on what is happening is the plan is to do nothing, let Wave decline and then shut the doors.
A few weeks later, a new company opens its doors. Wave shareholders are left lolling about the lollipop without a lick at it. But what would the new company do or sell? Wave can't sell squat, so it is not a valuable product going to waste.
Therefore, I conclude the plan now is to simply let her deflate without anything to hold her up. And then simply announce how sad they are to close the doors after 27-28 years of over-harvesting its own shareholders.
To tell the truth, I see nothing good at all happening for Wave shareholders. There are no real prospects, money is about out, even at half staff, Wave can not make enough money to support itself. No funds in sight I can see. Perhaps soon, an exile to the pink sheets--IMO--the absolute kiss of death.
Wave would be thrown into a pit teeming with carnivores all far more experienced at extracting money and the reek of corruption and manipulation in the pit....hardly the glorious end so many saw for so long. Success was always in Wave's 'immediate future'--but just as often, receding into the distance.
Some of the same self-professed seers have fingers crossed and are expressing faint hope for a last-chance, lightning-strike miracle. But the reality is, no miracle is at hand or even in the foreseeable future. Wave is about to run out of money with virtually no more funding available in any form.
We are two-thirds through Q3--no announcements, just more silence. There is a sense of surrender in some of the staunchest believers who held on until it became obvious and inevitable the end is near.
If I still had my original 1996 shares, bought at a dollar each, they would be worth a smigeon over a penny each now. But if we consider the time value of that money--it is far less. 19 years of waiting for a pay-off that never came and I am convinced, was never meant to come at all--except for the principals.
IMO, the shareholders have been ill-served by three successive regimes. The BoD badly breached its supposed duty to shareholder interests, IMO.
So sad, yet so predictable.
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