re: shares and the RS...the math works something like this (numbers used for clarity -- not actual authorised for Wave)
Suppose there were 10,000,000 authorised and 6,000,000 issued. There would be an additional 4,000,000 available for pipes, employee stock plans, etc.
A 1:4 RS would leave the authorised at 10,000,000, but reduce the issued to 1,500,000, leaving 8,500,000 available for future sales.
Potential dilution would, as a percentage, increase.
There is nothing inherently illegal or "wrong" with doing this, but it greatly increases the exposure to the shareholders.
"Absence of evidence is not evidence of absence. - Carl Sagan