Wave Systems Corp. (fka WAVXQ)

[Chance To See]

Zen, see player’s response to his own post.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31635218

Player amended the calculation in the second post. Per this post, you should use the highest market cap over the previous 30 days (which occurred on 7/29) rather than the 8/21 closing price used in post #170024. With that calculation, Wave has $9.28 million available to raise until about August 28.

But according to the pdf at the link which player provides, it appears that the limit is 60 days not 30. If that is correct, then Wave has ‘til the end of September to raise the $9.28 million amount.

Ramsey, I didn’t read the whole document by any means but I didn’t see anything about distinguishing between offerings at market or offerings at below market.

http://www.sec.gov/rules/final/2007/33-8878.pdf

Starting on page 23:

“The new rule requires registrants to compute their public float by reference to the price at which their common equity was last sold, or the average of the bid and asked prices of their common equity, in the principal market for the common equity as of a date within 60 days prior to the date of sale. Then, for purposes of calculating the aggregate market value of securities sold during the preceding period of 12 calendar months, the rule requires registrants to add together the gross sales price for all primary offerings pursuant to new General Instruction I.B.6. to Form S-3 during the preceding period of 12 calendar months.”

Also, if by any chance the market cap exceeds $75 million at some point, then the 1/3 rule is no longer in effect (unless market cap goes back below $75 million at the time of the next 10K), I think.