Wave Systems Corp. (fka WAVXQ)

[rachelelise]

D&O

Turned down may not be quite accurate but we were certainly left with the impression that additional funds could have been secured and wave did not make that happen. Given that deal was just 4 or so months ago, you'd have to wonder what information was included in their financing forecasts. Even they must do that.

I do agree that they must be more conservative in their forecasts if the outcomes are largely out of their control (such as when an OEM decides to do a deal and announce it). That said we surely don't know enough to evaluate the decisions adequately at this time. On the surface they don't seem to make sense however.