Replies to post #3094 on Wave Systems Corp. (fka WAVXQ)

[TonyMcFadden]

SPIN, I could very well be wrong, but Series H shares aren't the same as series H warrants. Two separate pools of cash, no?

The Series H shares conversion avoids the dividends.

The series H Warrants gets Wave another few mill of cash...

but, again, I may be wrong.

[24601]

SPIN: I agree that it is ambiguous whether "commencing [autumn 2004]" modifies only "Wave may call" and not also "any...period." My guess is the same as yours: that the price-trigger can be satisfied during any period, before or after the 18-month point.