Were that to play out with any sort of significant up front volume then it would represent ‘the other side’ of the doughnut hole. Obviously Wave isn’t required to exhaust the whole shelf through the ATM facility but assuming they do one can at least hope that the timing of everything is such that they can accomplish the exchange at a more favorable dilution rate than 2.2 a share. That this is still under the radar short of ever inquiring Wavoids certainly adds some intrigue. The whole bailiwick of Wave disclosure should make for an interesting CC.
If they can maintain that degree of pricing power, it will speak volumes as to their position as the only source to make the trust matrix work, and also confirm how necessary trusted computing is to the government. I hope that some of our better accounting minds on the board might be able to ferret out that bit of info. Do you know where I can find a person with that kind of expertise? ;-)
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