rip re: gas in the tank
may well be closer to fumes, but i do believe SKS' contention that many "options" are available to them, even if there is some deployment "slippage" which while no certitude is assuredly a distinct possibility.
if you've been holding since 98 you prolly know a bit about WaveXpress & can presumably see the inherent value in that technology. Wave stated more than once that they contemplated an IPO, though the climate didn't bode well for taking it public. that possibility remains & the climate is warming.
they own 20-25% of SSPX.
if they have executed deployment deals (along the NSM lines) they could leverage those deals w/bridge financing.
they have the ability to flip more option shares into the market.
they could even float a secondary after they take care of the "H" deal (assuming there is measurable top line).
they have no debt.
they seem to have the imminent revs to lower the already reduced burn rate.
i don't concur that the on-hand cash is crisis material. it's annoying that they blew through $122mil, but it doesn't seem to be anything that the many bilge pumps @ their disposal cannot handle.
IMO a bigger concern is that w/RAND, other TPM players could catch up while the market ramps & it may be in a Gorilla's (or three) best interest to stall deployment for a Q or 2 to allow their R&D to close the gap & permit them to establish rival offerings.
let's haup "riptide" doesn't become R.I.P tide!
SPIN
