Snackman: If they announced financing tomorrow, do you think that would brace up the share price? I doubt it. Might stop the slide a bit, but reverse what appears to be a stream of money leaving this investment? I don't think so.
It was time for some straight talk this afternoon and we didn't get it. It sounded like the fictive Steve of old, dancing around the questions he should have answered, and feinting and hinting about stuff he should not have.
I'm of the school that says if you have nothing to say, don't hold a news conference to say it. For many of us here, we are now likely to replay the questions of Steven's competence that were bandied about on this board earlier today. I'm not sure he would win a majority, if there was a call for a vote of confidence.
I'd vote no. He has consistently promised things that have not been delivered. That is Steven, not the market climate, not any conspiracy. He keeps doing this and with every new rev he washes a little more of our depleted credibility down the drain.
If he said revenues in Q4, he should give us some idea of whether it is going well or not. In the absence of any meaningful commentary, the tempting thing is to jump to the conclusion that if it were going well, we would have heard so. By saying nothing, he is sending a silent signal that sure sounds like the results are horrible. I'm not saying this is the case, but it sure looks like it is the case.
Wave's revenues are an amalgam of all the companies who are allegedly shipping our product. There is no way anyone can figure out Intel's revenues from our stats or any other OEM's. Intel is selling a bunch of different boards and Wave is only in one. So IMO, putting it on Intel is pure bunkum.
The logical conclusion one could draw, is that it is not going well. I don't think Steven has any idea of the hopes and the frustrations of those who have been waiting a decade to see some positive progress. My guess is the answer to this CC is going to be read in the share price. Maybe already has been, from the prices quoted on the after hours.
Wave needs major surgery, in my view, starting with a mgt transplant. This was a critical CC and what he did was definitely not cool. We all expected more. If this tepid performance was supposed to buck up the price for financing, good luck. This can not continue.
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