Wildman, yes that is what this is all about. Can they go back to 1998 and re-envision their IPO-like rocket, while the shareholders are left with the reverse split slog.
This is the basis of the posts by many to the same effect, and a few by me with statements like Buffet's: "when I do something dumb, I want you to be able to derive some solace from the fact that my financial suffering is proportional to yours."
Just so I Understand what's happening here. In 1998 with 30-39 Million shares the option pool was 500K. During that period of time our 39 million shares were diluted by a factor of three to 117 Million or so, a reverse split reduces our shares of our reduced value to one/third of their original number and that of the option pool and Management wants to increase their option pool back to pre-reverse split numbers right before the stock price Might return to 1999-2000 value. Wow!!!!! And having been busted their excuse is it would be too expensive to change it? Wow! Not a chance.
Wildman262-thanks for your consideration. This means that the 500k was ok all the way through the dilution of outstanding shares to 120M. Or was the BOD just derelict in not increasing the option max as dilution occured? Apparently Wave never did use the 500k max even though it was authorized. This begs the question if we did not use it when we had such a large base of shares why would we need it now. Perhaps the reasoning for attracting key employees is not justified either and just part of the overall ploy to get positioned for the coming revenue wave. ha.
Maybe SKS was sincere when he said there was nothing sinister behind the change and they won't use it anyway. Fine, then don't do it. Just change it back. Or perhaps spend the $140k, reduce the 500k to 250k and get half as rich. Half as rich should still be worth the $140k. And everybody is happy.
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