I posted today because the 14A came out last night, no other reason. I don't have a clue when the PP will be done. But cash is obviously getting low, so it could happen any time in the next month or two -- depending on what has been sold and collected this year.
On the larger issue of stock manipulation, it is my opinion that Wave has found a clever way to use PIPEs in coordination with PIPE hedge funds to continue to fund the company. I will credit SKS on that.
My research leads me to believe that b/c of the ample disclosure provided by Wave in their filings that the recent fundings are being completed in a grey area of SEC law. i.e. that PIPE funds are shorting the stock before each PP. normally this would not be allowed. But b/c of the going concern warnings and out of cash declarations by X date, some aggressive PIPE funds are OK stepping into grey area with the SEC. Another new "innovation" is have an investment bank create a derivate instrument that is a basket of stocks (with a large, ~70% WAVX holding) -- then short that against a PP raise.
Anyway, the funding tap probably stays open until the SEC makes some rulings to the contrary -- which may never happen. Or alternatively, wave gets profitable on it own.
