Wave Systems Corp. (fka WAVXQ)

[howardjoel]

AWK agreed FEENEY "MUST GO"-even our board members whether you agree with them or not knew something was wrong..

howard_b_golden
In reply to: cpa who wrote msg# 33175 Date:3/11/2004 4:37:08 PM
Post #of 33443


CPA, I'm a CPA also.

What surprises me is the $3.6 million "unrealized holding gain on trading securities." If I understand this correctly, they are marking to market and recording a gain. This isn't the accounting treatment I learned. Are they dealers in securities? If not, shouldn't they use lower of cost or market, which means they don't record any gain until they sell?

Any other accounting mavens are welcome to comment, too.