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Re: Wave's precarious position

By: Cactus Flower in ALEA | Recommend this post (0)
Mon, 13 Aug 12 9:31 PM | 100 view(s)
Boardmark this board | The Trust Matrix 		Msg. 09316 of 54959
(This msg. is a reply to 09315 by tkc)
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Hi tkc,

my hope is a bloody sale or five.

of course it is precarious. every ceo of a failing company tries to get folks to stay invested. and the best they can do is talk about pipelines.

wave takes the r&d off people's hands. the corollary of this is that they must make enough money to justify it.

i don't think the problem is education. it is the inability to articulate a compelling message.


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The above is a reply to the following message:
Wave's precarious position
By: tkc in ALEA
Mon, 13 Aug 12 9:22 PM 		Msg. 09315 of 54959

As of 6/30/12 Wave had negative working capital of $7M and $14-M left in the ATM. They'd borrowed $853K against $1+M in A/R. The 8/8/12 PP provided $1.66M cash. They're burning thru $500K/week. We're 6 weeks into Q3. What's it gonna be: new business, pink slips, more financing via ATM/PP or a combination? More financing (dilution) for sure. I see lower SP just over the horizon, so I suspect PP w/ warrants and more borrowings against A/R (if that hasn't already been done). They have dug themselves quite a hole. My hope is pink slips..

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