I was thinking the same, but then checked my records and saw that Feeney has made such presentations in the past, which were followed soon thereafter by the sale of new shares.
It is possible that the presentation is just to update SRA investors.
Note the pattern:
2006 Feb 3, Wave Systems Corp. announced today announced that Wave CEO, Steven Sprague, will be presenting at the Security Research Associates 2nd Annual Winter Technology Conference. The SRA conference will be held on Wednesday, February 15th, 2006 at the Campton Place Hotel in San Francisco. Wave's presentation is currently scheduled for 12:30 p.m. PST. Conference attendees will include a select group of institutional portfolio managers and analysts from across the country.
(IHub #108168, 2/1/06)
2006 Feb 15, Wave entered into a securities purchase agreement, pursuant to which Wave agreed to sell and issue 8,348,597 shares of Class A Common Stock, par value $.01 per share for $0.535 per share, to certain purchasers who are parties to the Purchase Agreement (the “Purchasers”) for an aggregate purchase price of $4,466,500. The Purchasers were also granted warrants (the “Warrants”) to purchase up to 1,550,868 shares of Class A common stock at an exercise price of $0.72. The Warrants are exercisable for a period of six months following the date of issuance. Each Warrant is subject to cancellation if the closing bid price of Wave’s common stock exceeds $0.86 for 10 out of 20 consecutive trading days and the Warrant has not been exercised by the close of business on the trading day after the 10th trading day on which the closing bid price exceeds $0.86.
(IHub #120857, 5/11/06)
2006 Aug 2, Wave Systems Corp. announced today that Wave CEO, Steven Sprague, will be presenting at Security Research Associates' 2nd Annual Summer Technology Conference. The conference will be held on Monday, August 7th, 2006 at the St. Francis Hotel in San Francisco. Wave's presentation is currently scheduled for 10:40 a.m. PDT in the Elizabethan Room C. Conference attendees will include a select group of institutional portfolio managers and analysts from across the country.
(IHub #127,023, 8/2/06)
2006 Aug 7, Wave Systems Corp., a developer of trusted computing solutions and services, announced that on Friday, August 4, 2006, it agreed to sell 2,336,752 shares of its Class A common stock at a price of $2.05 per share for gross proceeds of $4,790,342. The net proceeds of the financing - approximately $4.5 million - will be used to fund Wave's ongoing operations. Steven Sprague, CEO of Wave Systems, commented: "This financing helps to solidify our capital position and provides funding needed to support our operations.
(IHub #127,529, 8/7/06)
2006 Sep 7, Wave Systems Corp. announced today that its CEO, Steven Sprague, will present at the third-annual Merriman Curhan Ford & Co. Investor Summit on September 19, 2006 from 10:15 a.m. to 10:40 a.m. PDT (1:15 p.m. - 1:40 p.m. Eastern). Wave's presentation will be in the George D. Smith room. This event will be held at the Mark Hopkins InterContinental Hotel in San Francisco. More information about the conference can be found at: www.merrimanco.com.
(IHub #128,777, 9/7/06)
2006 Oct 4, Wave Systems Corp. announced today that Wave CFO, Gerard T. Feeney, will be presenting at The New York Society of Security Analysts' Small Cap Innovators Conference on Thursday, October 5th, 2006 in New York City. Wave's presentation is scheduled for 3:50 p.m. EDT and will made available for replay on the NYSSA website (www.nyssa.org) a few days following the presentation.
(IHub #130,170, 10/4/06)
2006 Oct 31, Wave Systems Corp., a developer of trusted computing solutions and services, announced that on Monday, October 30, 2006, it agreed to sell 3,517,230 shares of its Class A common stock at a price of $2.73 per share – the closing price on Friday, October 27th, - for gross proceeds of $9,602,038. The net proceeds of the financing, approximately $9.1 million, will be used to fund Wave’s ongoing operations.
(IHub #131,964, 10/31/06)
2007 Feb 20, Wave Systems Corp. announced today that Wave CEO, Steven Sprague, will be presenting at Security Research Associates' 3rd Annual Winter Technology & Healthcare Conference. The SRA conference, for institutional investor clients, will be held on Monday, February 26th at the Omni Hotel in San Francisco. Wave's presentation is scheduled for 2:30 p.m. PST in North Beach Room B.
(IHub #137,819, 2/20/07)
2007 May 24, Wave Systems Corp., a developer of trusted computing solutions and services, announced that it has agreed to sell 7,317,073 shares of its Class A common stock at a price of 2.05 per share, yielding gross proceeds of approximately $15 million. The net proceeds of the financing, approximately $14.2 million, will be used to fund Wave's ongoing operations.
(IHub #145,092, 5/24/07)
2008 Feb 4, Wave Systems Corp. announced today that Wave CEO, Steven Sprague, will be presenting at Security Research Associates' 4th Annual Winter Technology Conference. The SRA conference, for institutional investor clients, will be held on Monday, February 11th at the Omni Hotel in San Francisco. Wave's presentation is scheduled for 11:30 a.m. PST in North Beach Room B.
(IHub #158,306, 2/4/08)
2008 Mar 3, Wave Systems Corp., a leading developer of trusted computing solutions and services, announced that it has agreed to sell 3,173,500 shares of its Class A common stock at a price of $1.10 per share, yielding gross proceeds of approximately $3.5 million. Investors in the private placement will also receive five-year warrants to purchase an aggregate of 952,050 shares of Wave’s Class A Common Stock for $1.15 per share. The net proceeds of the financing, approximately $3.3 million, will be used to fund Wave’s ongoing operations.
(IHub #159,851, 3/2/08)
