Wave Systems Corp. (fka WAVXQ)

[player1234]

I have never met a risk manager who asked a struggling company to raise some capital just to prove they could.

The need to raise capital, at a discount, does not show strength. It shows weakness. They need cash. That means Q4 deals did not close and revenue may have even been less than expected. If the deals close in Q1 (big IF) then they may still have a cash crunch as the payments for the deals won't come in until the end of Q1 or beginning of Q2.

Did all these "pilots" cost more?
Were more people hired?
Was there a big payout to now former employees?
Did expected sources of cash (i.e. GM as per Alea's speculation) disappear?

The Q4 numbers will show what the situation is. Unfortunately, we won't see them until March.

For years, people have used the "it should prove to prospects" stuff regarding placements. It has never been true. They need cash.