Wave Systems Corp. (fka WAVXQ)

[player1234]

The real reason for the reverse split:

With the proposed reverse split, they would also raise the authorized share count by 30 times at a 1:20 split level.

That is, with about 90m shares currently authorized, a 1:20 split should bring it down to 4.5m authorized shares. But the company says they will make it 146,958,943 shares, a 30+ fold increase in the number of authorized shares from what it should be.

This is the real reason for the reverse split. It is an excuse to authorize 30x the number of shares so they can print money for the bonuses for non-performance.