More Factual Wave History.
Wave was de-listed from the Naz in Aug. 1997 for failing to meet the tangible assets minimum. It regained listing in Oct. 1997 on the Nasdaq Small Cap Market after pleading its case at a hearing.
Since then Wave has had a series of de-listing warnings, two of which led to reverse splits and/or retreats to smaller Naz markets.
Wave is currently on yet another de-listing countdown from the Naz Capital Market.
Wave's financials have long carried a warning about Wave's jeopardy as a going concern. In addition, Wave has had to restate their financials at least twice because of errors and miscalculations.
Dilution has been fairly steady throughout Wave's history, the latest coming via a $15M Shelf Registration in Nov. and a $3.8M placement [5,513,044 shares of Class A stock*] on Jan. 27 of this year. The news release said, the money raised would be used "to fund Wave's ongoing operations."
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*this placement came with 2.2M five-year warrants to buy Wave Class A shares at $.70/share.
