one of the forceful criticisms of wave is that it has been unable to balance its income with its expenditure.
this release opens the possibility that wave's cost reduction is a ruse and that it is essentially pushing development expenditure through the balance sheet.
there are other possible explanations. but most companies don't pay for third party development expenses using equity. if you think the equity will increase in value, it's not a very smart way to pay someone.
one thing this company doesn't need is yet more suggestions that it is undisciplined.
ps they only released the information because they are obliged to disclose dilution.
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