mymoney
WAVX authorization is 150m shares. The ATM leverages a shelf registration of $20m (not shares, but dollars). Those shares do not require announcements to move. The announcements are the announcement of the shelf and the announcement of the ATM facility. Wave simply uses that facility of shelf registered shares from time to time. The last PP was unregistered shares. Those unregistered shares and any share coming off the shelf and all other shares are all in the overall cap of 150m shares. So the last PP was essentially printed out of thin air, and Wave can print such shares out of thin air up to their authorization limit of 150m shares of which something like 125m is spoken for (very rough guess).
I expect Wave will likely have to do a reverse split and will bury an authorization increase into a shareholder referendum masquerading as a vote on the revsplit (as they did last time). They obviously need to raise the authorization limit. Scrambls alone burns about 2m shares a year and there is no way that is Michael's last cool idea. SBcomp is likely around another 1-2m per year, payroll via equity financing is another 5-10m shares a year.
Seeing that a revsplit is as likely as not, in the event of a revsplit that is when the company will go to shareholders to increase the authorization limit.
SKS indicated in his public-private-whispers to their PR agency (an internet chat board) that they do not expect revs from Samsung util summer, and it seems foolish to expect meaningful DoD befroe summer, and seeing that delisting is a summer thing, and the SHM is a summer thing, it seems the RevSplit-SHM-ShareAuthLimitRaise-MegaBuillishSamsungTalk is what the summer will be all about. And people can gush over gilder. And maybe even shake his hand (HandShakeOsm).
The above content is my opinion.
