and Wave's current ratio is 6.7 : 3.6 (sans deferred). That's a significant & positive change. EoQ cash at $4.5 plus the $1.2M from Esign leave him w/ $5.7M to get through Q1. That shouldn't be a problem considering a Q3 burn of ~$1.4 and a positive current position of + $3.1M. This guy can manage!