Replies to post #231280 on Wave Systems Corp. (fka WAVXQ)

[Bluefang]

Player: You seem to be reality based and savvy about the market.

Do you have any observations about what will happen if the second reverse split goes into effect?

I see Wave doomed to become a third or fourth tier company--in essence, ruined.

But how do you see a post reverse split landscape for us shareholders?

The terms are pretty clear to me. The company fears severe shareholder push-back and have instituted changes designed to thwart any kind of reform mandated by shareholders.

Any light you can shed would be helpful.

Thank you for your persistent realism and correction of mistakes posted for good and nefarious reasons. I am an admirer.

Best wishes--Blue

[barge]

Player---Of course it's contingent on shareholder approval. The shareholders have "to approve" the reverse stock split. Without approval the Board of Directors do NOT have the "discretion" to initiate the split.

3. "To approve a series of amendments to the Company's Restated Certificate of Incorporation (the "Proposed Amendments") to effect a reverse stock split of our Class A Common Stock and Class B Common Stock whereby, at the discretion of our Board of Directors, each outstanding 2, 3 or 4 shares of the Company's Class A Common Stock and Class B Common Stock, respectively, would be combined into and become one share of the Company's Class A Common Stock or Class B Common Stock, as applicable. If approved, the Board of Directors will have the discretion to effect one of such Proposed Amendments and abandon the other Proposed Amendments or to abandon of all of the Proposed Amendments as permitted under Section 242(c) of the Delaware General Corporation Law;"