edit3: imagine that Rach
"each time you write, you think the chance of BK is higher than ever before."
yep, the risk of Wave slipping through the cracks is much like sand in an hourglass, 'cept there are all sorts of new pressures & obstacles. as for the legal issues, the only "side" i'm on is the sidelines, watching & waiting to see what results.
the $10M you mentioned was in large part received over 3 months ago, SO, presumably at least $4-5M is already long gone, leaving maybe another 3 months.
why would it be so hard to believe Wave would begin efforts to secure more operating cash now, rather than waiting until the eleventh hour like past disaster fundings? especially given the mess they're currently facing. wouldn't it be prudent to secure funds in order to defend the claims, not to mention the previously disclosed ramp-up costs which will invariably increase the burn?
yes Rach, i am assuming neglible revs for at least another 2 Qs (based specifically on Wave's representations) & then adding at least another Q b/c of Wave's well known history of exaggeration... SO, yep, i doubt highly that Wave's top line will exceed $1-2 (maybe 3M) for the entire year. i also don't believe that Wave's prospects will track TPM rates as closely as others believe.
s5elected bolds - couldn't care less what you think of me & btw, 24 has been practicing for decades & i graduated just about 8 months ago. he should have a more impressive legal mind - he's prolly been thinking about law for about as long as i've been alive.
Zeev - yep, the financing last Spring was preferred converts & not of the Death Spiral variety. but IMO Wave is running out of options & if things continue to erode it'll become increasingly difficult to obtain funds on anything which can be even remotely considered "favorable terms."
SO, i suspect that if things keep moving as they have the last few months, Wave will have no choice but to fund operations w/so-called "Death Spiral" financing -- JMO. also guessing that the Nov PPers cannot be thrilled by the recent turn of events while holding illiquid paper for 3 months & watching the pps drop almost daily.
also Zeev, i'd like to renew Dudash's request that if you ever have the time to review & comment on Wave's patent portfolio, many would prolly find that very worthwhile.
1: Burp - wavoids & "locking in profits" ?!? thought you posted that you knew about Wave?
2: HBG - it's pure wavoid nonsense.
3: New Wave - tkc has stated he has been a wavx holder for around 7 years, why shouldn't he know those names?
