Replies to post #30151 on Wave Systems Corp. (fka WAVXQ)

[awk]

SPIN = J.K.Rowling?

"...as for the X-FIles... i was only responding to what seemed like a conspiracy theorist. Dean bashes Bush on the campaign trail for months - Trippi worked for Dean as his chief campaign strategist - Trippi worked for Wave - Wave provided Dean some tech - Bush (exec branch) oversees SEC.

FTR i seriously doubt the White House thinks much about Wave (if at all) & presumably has much more important things to devote their energy towards... but hey, maybe that is the reason the DoD has not accepted Wave's products yet & that the "software errors" basis is just some smokescreen!?! Maybe GW called Rumsfeld & told him to put the kabosh on the so-called "smart-safe..."

[zen 88]

Spin- Afraid we're back to Firenze..

and the Italian Statesman.

I guess I have more patience than most with the man who's ideas have even you saying that Wave could still do quite well. I suffer genius much better than fools. Like Rick Overton (a fave comedian) used to say, "Yes, I'm crazy; but I'm saving up to be eccentric!"

They made the loan legally, wrote it off legally, and repaid it legally. Sarbanes-Oxley just missed on that one. I'm just glad he paid it back without having to tank the stock. In fact, I predicted he would do that, and was ridiuled by Howie, who said he'd never pay it back. Is there a bad half of right? Gotta go fete my lovely. Ciao.

[rachelelise]

SPIN

I've tried to follow your reasoning and tried to understand the terms of the filing. The starting point of the 2.0% is simply not clear. I would read it starting after the Effectiveness Date but the clause could clearly be more explicit. When it comes to the 1.5% interest, I don't reach the smae conclusion as you either. I read interest on not paying the liquidated damages to be interest on the amount that is owed. So that is 1.25% per month on the amount owed. In my interpretation it is .00125 times $142,000 which is a small amount - even with your 400,000 it is relatively small. I can't read interest as being applied to the entire $7 million - that would amount to 60% per month.


XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

the Liquidated Damages provision states:

equal to 2.0% per month of (i) the Subscription Amount paid by such Holder pursuant to the Purchase Agreement for Registrable Securities then held by such Holder and covered (or to be covered) by the Registration Statement..."

my read on this clause is that if the S-3 is not approved w/in 90 days of the Closing Date, Wave must pay the PPers 2% per month (which is 24% Annual Percentage Rate (APR)) of the total subscription ($7.1M x .02 = $142,000/month). nevermind the fact that prime is 1/6 of this rate. i translate the language of the agreement to require Wave to pay the PPers an amount not less than $426K & not later than 02/24/04.

only if those payment obligations should go into default (failure to pay the $142K (x3) after 7 days) does the additional 15% APR kick in (1.25% monthly, or $88,750, or $230,750 per month (for 3 months) if in default). If Wave fails to make the $426K payment in a timely manner, an additional $266,250 would arguably be due for the 3 months, for a total of $692,250. my interpretation might be wrong & the terms might be construed far more leniently...

d to understand what you wrote and tried to understand the details of the filing.

[Doma]

SPIN..........On Dear!!!

The PP shares have been registered,the effectivness
date becomes irrelevent & so do your 50 posts on
the subject............LMFAO.......:))))))))!!!

Have a nice day:)

Doma.