Wave Systems Corp. (fka WAVXQ)

[awk]

orda: What is so frickin difficult to understand?

Wave became non-compliant with the NAS listing rules in April of 2006

Wave appealed and applied for a 180 day extension. An appeal may take anywhere from 4-8 weeks until a hearing takes place. That hearing took place last Wednesday, one week ago.

As part of the appeals process Wave has to provide an outline to the hearing committee how Wave would proceed to become compliant again with the NAS listing rules.

As has been said many times here NAS does not consider any forward looking events (revenue, announcements). So the only possibility is to agree to a reverse split if necessary. With the share holders having to authorize such an undertaking Wave "bought" an other few weeks (until at least July 24, 2006) on the NAS.

I don't think it is within our capacity to determine whether a NAS delisting would or would not influence our way of continuing business. What however came out clearly is that it would be difficult to raise further needed funds at market if we were delisted.

In any case, this discussion has become quit dry.

Have you ever tried to figure out what kind of revenue figure Wave is looking at in 2007...i.e. with fairly good upgrade numbers?

I am sure that if you thought a bit about these figures you'd come to the conclusion that a possible reverse split is quite a non-issue. They'll have to forward slit pretty soon anyway.