Replies to post #205521 on Wave Systems Corp. (fka WAVXQ)

[tkc]

They have, ExPat, I don't know how many times-more than a dozen? They are known as "private placements" - we call them PPs. But that was to fund the company as Wave had no real revenue until a couple of years ago.

[Blue Fin]

ExPatriate57', Its the remainder of a shelf that was approved a couple of years ago and the 9 million is what wasn't used.

[dig space]

Expat, yup, pretty much

A placement of shares off the shelf would trigger a filing and a PR, ... the options granted to seniors will be reproted in the annual, the total drag of the Employee plan will be given, and so on.

All of this essenitally will be/is after the fact reporting, as the Employee plan is in the books and voted on, that stuff gets communicated in the Annual Rep(and at the SHM), excercized options and warrants show up on the blance sheet in quarterlies, and placement pretty much comes out within the 4 days (8-k, Entry into material definitive agreement) and usually a prospectus (424?) goes along for the ride.

A new registration (S1 e.g.) is also reported after the fact and simply means the treasury has more shares availblew for near immediate use. The last couple times Wave has registered in bulk (shelf registration) previously most placements were registered specifically for the event as opposed to drawing down a pre-registered shelf.

The shelf is for an amount of money, not an amount of shares. Auth limit is the only thing holding down potential dilution, and that, alaas, would need SH approval (along with adding to the Employee/Comp plans)