hi tkc,
predictions of wave's failure haven't been very successful either, timewise. people fail to account for wave's ability to raise funds.
a few things have been clear. it costs more than $1 to generate $1 of sales.
until that isn't true, expansion will lead to higher variable cost-related losses and contraction will lead to higher fixed cost-related losses.
wave has evaded the conclusion of this dilemma (i) by issuing stock and (ii) by changing ceos.
we will find out if the ceo is the key to wave's dilemma in time. but in the meanwhile, it looks like more dilution.
setting aside opportunism with market trading or speculating on surprise orders, this business isn't in play as a substantial opportunity right now. if there are signs of it changing direction - which will be apparent in the quarterly reporting - maybe it will become exciting. but for now, it's just a business whose idea hasn't caught on that is scraping by at the expense of its shareholders.
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