Spin
Admittantly I had the benefit of reading all of the posts in backwards order and then reading the S3 but I must say you sounded hysterical and didn't appear to know what you were talking about. Moreover you write to incite so lets examine a few things.
First we all knew that Wave would run very low on funds around february and that these proceeds were worth a couple quarters of operating funds.
* one can question their decision to limit the size of this placement given the apparent expectation of additional funding. Big mistake or good idea to manage dilution. We shall see.
The amount of potential shares to be sold is less than 4 million, an unknown number have been shgorted already and an unknown number are in long hands.Your posts of 3 or 4 or 5 million drowning us now is simply overdone.
There are additional shares which could become available if the warrants are excercised. They are unlikely to be excercised unless the stock price is 50% higher today and in that case wave has more funds and a higher price.
Wave has SSP shares and have been selling SSP shares. In fact if Wave sold all of their SSP shares, they will have largely covered the shortfall for the year (assuming no revenue).
As for revenue, what do you think they could say. TPMs are just shipping -especially NSM and Intel. Thus their obvious direct revenues are first beginning and at best they have several successful server pilots and now have to sell the services. What could they say in this filing as to their expectations in August? What do you think the SEC position might be here?
I wouldn't make much of the fact the S3 filing was made (yet), but I like you assumed that the registratiuon statement wouldn't get this far if they were about to indict the whole company.
Finally you overlooked the fact that in the text Wave said they've had to increase expenditures because of market demand. I think you referred to extended breakeven (was it now 06 or 07) but some might find the need to ramp up positive.
It's not as if this is a dream filing (except for the fact it was made now), but the hysterical commentary warrants some balanced response.
