RWK, care for some lack of balance ...?
Q2 = 6k
Q3 = 44k
Assume all of Q3 recognised is deferred from Q2
Q3 deferred is 340k.
Rate of change of deferred Q to Q is greater than 7 fold.
So lets assume all of the deferred from Q2 came from the last month, thereby reducing the weighted average Q to Q to ca. 2.6 (understanding that Q3 is by no means linear and is being treated that way).
In any event, 340*2.6=850K for the deferred component of the next Q.
IF they do bank the 340k as expected and
IF they record a 850k backlog as I just project
AND IF they really have the money to get into Q1
THEN I would be disinclined to go for trying to secure the sale of the rights at $1 ....
WHY?
Cause IF that happened, the warrants (which are considerable dilution) would definitely be in the money.
And IF you were trying to minimize dilution (which is obviously their M.O., and unfortunately from a Monday morning perspective to their detriment)
THEN, the plan would be to limp along as thinly as possible anticipating the warrants and otherwise pulling off one more shelf thingy if the Oct30 rights don't move.
The point is, could not Wave dump shares into the MKT holding prices at around 93 cents for some time, minimise the dilution (by selling fewer than 3.5 million shares), and wait for the warrants (which are at least better than 3.5M shares for a buck).
I doubt I lost you, but I probably lost Feeney in that.
Regards,
Dig Space.
The above content is my opinion.
AI
