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An Interesting IDB update! And how IDB got even faster.  IDB is fast, reliable, and FREE to use. Just join and start posting!

What exactly happened then???

I know I should be letting this go fully, but just had to do a quick search (ie. I don't want anyone getting rich on Wave's technology (funny I know) after many of us got royally screwed) and what I found was interesting. 

So, September 1, 2016, ESW Capital buys Wave under it's Versata affiliate (http://www.prweb.com/releases/2016/08/prweb13639211.htm).  Shareholders, of course, got nothing for an investment that was supposed worthless, but didn't stop these quotes:
"The Wave Systems assets will be complemented by an international team that can deliver superior value to Wave customers through increased resources, world-class engineering, and exceptional support," said Greg Kazmierczak, Chief Technical Officer of Wave. “I am confident that this transition will be a positive one for Wave customers.”
Leela Kaza, a Versata veteran will take on the role of President for Wave. “The technology that Wave has built is incredibly innovative and has proven itself to be highly valuable to their customers," Kaza said. "We are excited and ready to take Wave into the future with enhanced support and a rigorous focus on customer success."
Then, on Dec 19th, Wave, now it's own affiliate under ESW, somehow 'finances' Redknee for $83 million (is that right?)...http://www.marketwatch.com/story/redknee-solutions-inc-announces-receipt-of-superior-proposal-and-commencement-of-matching-period-2016-12-19
So, did ESW simply buy Wave for its losses and use it for tax purposes in this last transaction with Redknee??  Just curious really.
Btw, months ago, I came across an old email where I was copying what Steven told a poster and it had to do with a billion dollar pipeline or someting.  Amazing how often he lied and amazing he can get away with it.