Replies to post #170985 on Wave Systems Corp. (fka WAVXQ)

[xxxxcslewis]

As I understand it Wave can force conversion to common stock and eliminate the existence of the converts. The current benefit to the convert holders is, I believe,a higher relative position to the common stock should liquidation occur and an 8% yield should the conversion not take place.

So from a short term perspective, should things not work out as hoped they are in a better position compared to the rest of us. If revenues are now building as I now believe has been confirmed by the of terms and size of this offering those advantages go away as the forced conversion occurs. I anticipate the forced conversion takes place before the first interest payment is due.

That is my quick thumbnail analysis and I could be wrong.