Wave Systems Corp. (fka WAVXQ)

[aleajactaest]

Just in case anyone is curious or wants a reminder about some of the facts re WXP:

http://www.unclever.com/wavx/misc/wavexpress.htm

and

"Wave has funded Wavexpress through a series of convertible notes, some with attached warrants. The notes bear interest at the rate of 2% to 3% above the prime rate of JP Morgan Chase Bank. Generally, the notes are convertible into shares of common stock of Wavexpress at varying prices per share. Through June 30, 2011, Wave has funded Wavexpress with approximately $47,066,000 in cash loans, which have accumulated approximately $36,432,000 in accrued interest. Such amounts include approximately $9,500,000 that has since automatically converted into 1,826,571 additional shares of Wavexpress at an average conversion price of $5.20 per share. These amounts are eliminated in consolidation.

Read more: http://www.faqs.org/sec-filings/110809/WAVE-SYSTEMS-CORP_10-Q/R10.htm#ixzz1hI64Cosu