WAVX’s last call for funds was on Dec 26, 2008. Revenues a year ago, May 13, 2008, rose 116% as compared to year earlier. On May 12, 2008, WAVX reported a rise in revenues of 32% as compared to a year earlier. On March 5, 2009, WAVX reported preliminary unaudited results for Q4 to be $3.3 million. The March 12 CC will verify the marked improvement in revenue, by as much as 176% from a year earlier. I believe we will hear that break even has been achieved.
2008 Mar 13, Wave Systems Corp. today reported Q4 2007 net revenues rose 116% to a record $1,875,000, compared to Q4 2006 net revenues of $866,000. The higher level of license revenues was principally due to royalties earned from a significant increase in the number of bundled shipments of Wave software by OEM partners. Gross profit rose to $1,643,000 in Q4 2007, or a gross profit margin of 88%, compared to gross profit of $656,000 in Q4 2006, or a gross profit margin of 76%, principally reflecting higher sales volumes on fully amortized software costs, offset somewhat by higher customer support costs. Wave reported a Q4 2007 net loss of $5.3 million, or $0.11 per basic share, compared to a Q4 2006 net loss of $4.8 million, or $0.12 per basic share.
(IHub #160640, 3/3/08)
2008 May 12, Wave Systems Corp. today reported results for the first quarter (Q1) of 2008 and provided an update on corporate progress and developments. Reflecting an increase in license revenues, Wave's Q1 2008 net revenues rose 32% to $1.7 million, compared to Q1 2007 net revenues of $1.3 million. Wave's improvement in license revenues was principally due to royalties earned from increased shipments of Wave software by Wave's leading OEM partner. Gross profit for Q1 2008 rose to $1.5 million compared to $1.1 million in Q1 2007, reflecting the higher level of sales.
(IHub #164,489, 5/12/08)
2008 Dec 26, Wave Systems Corp., a leading developer of trusted computing solutions and services, announced that it is selling to investors a total of 456 shares of newly designated 8% Series K Convertible Preferred Stock at a price of $2,800 per share, yielding gross proceeds in the amount of $1,276,800. Each share of Series K Convertible Preferred Stock will be convertible into 10,000 shares of Wave Class A common stock upon the election of the holder at any time or automatically on the date on which the average closing price per share of Wave Class A common stock for the 15 consecutive trading day period then ended equals or exceeds $0.70. In the aggregate, the Series K Convertible Preferred Stock is convertible into 4,560,000 shares of Wave's Class A common stock. Dividends will accrue at 8% per annum and will be paid in cash semi-annually. Additionally, for each share of Series K Convertible Preferred Stock purchased, the investor will also receive warrants to purchase 2,500 shares of Class A common stock at an exercise price of $0.28 per share. The warrants are exercisable for three years beginning on the date of the initial issuance of the warrants.
(Ihub #173,828, 12/26/08)
2009 Mar 5, Wave Systems Corp. reported today on preliminary unaudited results for its 2008 fourth quarter and full year ended December 31, 2008. Based on the company's preliminary unaudited financial results, Wave's Q4 2008 net revenues are expected to be approximately $3.3 million, compared to Q4 2007 net revenues of $1.9 million and Q3 2008 net revenues of $1.8 million. For the full year of 2008, net revenues are expected to be approximately $8.8 million, compared to 2007 net revenues of $6.3 million.
(Ihub #175,785, 3/5/09)
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