Hi tryagain,
from the 10Q, the key paragraph to read:
"Wave estimates that its total expenditures to fund operations for the twelve-months ending June 30, 2013 will be approximately $46,400,000, including research and development, acquisition of capital assets, sales and marketing, general corporate expenses and overhead.
Based upon the available cash currently on hand, including the net proceeds from the 2012 ATM described above and the financing completed on August 8, 2012, if we meet our current revenue and expenditure forecast for the twelve-months ending June 30, 2013 (both of which are uncertain), we estimate that we will need at least $5,000,000 in additional cash in order to continue as a going concern for the next twelve-months ending June 30, 2013."
You can forget the unsafe harbour. This section of the report has been the most reliable forward-looking resource over the years. Wave looks like it is estimating no more than $40m or so in cash inflows from operations over the next 12 months.
Folks should lower their expectations.
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