Replies to post #244164 on Wave Systems Corp. (fka WAVXQ)

[mymoneybgone]

There are many reasons the company is in the shape it is in today. Almost all of these were determined to be but a bump in the road by the publication. The signs have been there for years. Time has a funny way of exposing these. What is mind boggling to me is the number of folks suprised and still clawing away at something that isn't there...a sale price far above the share price, left field deals and the like..its like watching drowning people thrashing for a log in a barren ocean.

[tk5010]

Then you have to Jerry McGuire him.

SHOW ME THE MONEY!!!!!!

[batmitzvahshiksa]

Player, about that "debt"

I think you (and some others) may be mistaken about the status of the $588k bridge loan. In late September Wave announced the loan. Then in early November they filed a form D for the issuance of new securities (shares) which stated that $490k of securities were already sold and $0 in securities remain to be sold. I interpret that filing to mean that unregistered shares were already sold in an amount sufficient to cover the principal of the loan. Therefore, I assume the bridge participants have likely already been repaid their principal, although (a) I could be misinterpreting the form D or (b) the amounts could be coincidental and Wave could have kept the $490k and the bridge participants have not received any repayment yet. However, if I'm correct, the participants are owed only the interest, so the debt is not that large. It's unclear to me how many shares they could receive if Wave defaults only on the interest payment, and not on the principal. If my interpretation is correct, the participants got a pretty decent deal-- quick principal repayment (downside gone) and interest/cheap shares on the horizon (only upside remains).

Oh, and for whoever the Wavoid was that posted "sure wish we knew who participated in the loan": It's in the S3, under "beneficial owners." As always, Wavoids never read the most important documents. Here's a paste of the table.

Name of Beneficial Owner
Number of Shares Beneficially Owned Prior to Offering
Maximum Number of Shares that May be Sold Under this Prospectus
Number of Shares Beneficially Owned After Offering (assuming the sale of all shares that may be sold hereunder)
Percentage of Beneficial Ownership After Offering (assuming the sale of all shares that may be sold hereunder)
Anson Investments Master Fund, LP(1)
6,328,674(2)
5,369,095(3)
959,579(4)
1.6%
Apryl Waldman
805,365(5)
805,365(5)
0
0.0%
Kevin Gusinow
1,775,795(6)
1,610,729(7)
165,066(8)
0.3%
Pinz Capital International LP(9)
2,684,548(10)
2,684,548(10)
0
0.0%
Walton Rutherford
1,947,674(11)
1,342,274(12)
605,400(13)
1.0%
William J. Garner
536,910(14)
536,910(14)
0
0.0%
ZSP Capital LLC(15)
805,365(16)
805,365(16)
0
0.0%