Wave Systems Corp. (fka WAVXQ)

[dig space]

Zen, fair enough ... (and edit)

I actually think it is all quite curious, I actually believe that the words CPA posted *were* in a PP proxy, but CPA said he/whoever didn't bite ... I suspect that too many didn't bite and Wave abandoned the lock-out in order to secure subscription. But while the correct observation was promptly and repeatly stated from Edgar/SEC (no lock-out) it was only CPA/CPA'sfriend UNACCEPTED OFFER that treadmilled into lore.

Odd, many have pasted the filing paragraph, and here is one of my versions:

http://www.investorshub.com/boards/read_msg.asp?message_id=10219054

To his credit, CPA capitulated in response. I believe the lock-out is a myth. I consider it a settled myth. It is important. That CPA recieved doc's with a lock-out and the final settlement lacked a lock-out shows how terribly weak Wave's hand was in that PIPE. Period.

EDIT: Oddly, Wave may have been better served by no lock-out, I can't see how all the shares hitting this week would be a good thing at all (which is what the lock-out held out for). Or alternatively, if there had been a lock-out maybe 10 days at a buck would have happened without all the arbitrage etc and the monky (delisting) would have been staved off.

Who knows.