Wave Systems Corp. (fka WAVXQ)

[Bluefang]

Wave Express: $85.8M

Someone asked how I estimated WXP's cost to Wave, at an estimated $84M. The actual cost was higher--almost $86M as of a year ago.

According to 2011 10K documents filed, here's how it breaks out.

"Through December 31, 2011, Wave has funded Wavexpress with approximately $47,105,000 in cash loans, which have accumulated approximately $38,764,000 in accrued interest.
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This adds up to a total of $85,869,000. This was nearly a year ago.

WXP was closed in 2008 after spending nearly half a million in computer equipment leases.

"An impairment charge of $447,128 was recorded to reflect the write-off of impaired assets, consisting primarily of computer equipment, including equipment collateralizing a capital lease obligation."
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If you want to read it for yourself:

From Wave’s 2011 Form 10-K: http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001047469-12-003681.txt&FilePath=\2012\03\30\&CoName=WAVE+SYSTEMS+CORP&FormType=10-K&RcvdDate=3%2F30%2F2012&pdf=

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