I've accounted for all the shares...
http://www.secinfo.com/dVut2.1163.htm
1) 3,725,263 shares of Common Stock and the Warrants in a private placement to the Investors for an aggregate purchase price of $7,078,000 (the "Financing").
2) The Warrants are exercisable for 931,309 shares of Wave's Class A common stock
3) Wave issued Warrants to purchase 146,905 shares of Class A common stock (the "November Warrants") as partial payment to the placement agents for services they performed in connection with the Financing.
4) Wave also issued Warrants to purchase 14,690 shares of Class A common stock (together with the November Warrants, the "Placement Warrants") pursuant to an agreement with a placement agent it had previously dealt with as compensation for past services. The terms of the Placement Warrants are substantially identical to the terms of the Warrants.
5) 44,365 - Ms. West holds Consultant Warrants which were issued to her as payment for services performed for Wave.
3,725,263 + 931,309 + 146,905 + 14,690 + 44,365 = 4,862,532 Shares