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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (8836)	8/28/1999 11:01:00 AM
From: SDR-SI	Read Replies (1) \| Respond to of 11417

TD, Thank you for your precise and informed reply to my questions on the specifics of why the clearly unrelated news item which you posted is conclusive proof of Wave's impending doom. Your clear and lucid understanding of what it means for a corporation to be a development stage company is amazing. Your understanding of the financial procedures followed by a chief executive who has decided to put his lot clearly with that of the stockholders by accepting stock in lieu of salary and in lieu of loan paybacks, clearly indicates that you must, indeed, be so knowledgeable by having served in such a position yourself. The level of understanding of the written and unwritten rules governing the investment procedures of institutions, and their applicability to companies so early in their development stage that they have not yet reached the stage of demonstrable deployment and execution, indicates a precise and wide-ranging knowledge of the market and of the dynamic forces which govern the development of a company's stock market history. You have clearly demonstrated that involvement in a company which is in the development stages, and which requires the investor to be looking to the future efficacy of its products, and which requires the investor to make informed, but subjective judgements about both technology and management integrity and capability, is not for everyone. If the company at this stage had massive deployment, abundant revenues, and consistent earnings, you would still not be investing in it because you would then be saying "it's too late to make big returns, the market has already recognized the company." Indeed, investment in development stage companies is not for everyone. Steve PS - I do appreciate your persistence, however, as well as your gentlemanly good humor. PPS - If you have seen any specific negative development over the time that you have been following Wave, other than the universally accepted frustration of unanticipated delay, I would be very interested to hear of same. Actions of institutional penguins notwithstanding, the market apparently agrees with those of us expecting ultimate success, since it accords this little company with all the negatives you cite, with no significant sales, and with just a technologically sound idea, a market cap of over $300,000,000.