hi rwk,
okay. but my presumption is that a company which factors its invoices is unlikely to have decided to set one aside unless it was disqualified from doing so.
given that they pledged $12-12.5m of invoices between late April and year-end, it looks to me like they factor everything except dell. but i may be wrong.
sadly, wave needs the cash. the 10k makes it amply clear they are continuing to have liquidity issues. dilution looks inevitable to me. sooner rather than later.
" We will be required to sell additional shares of common stock or preferred stock, obtain debt financing or engage in a combination of these financing alternatives, to raise additional capital to continue to fund our operations for the year ending December 31, 2013. The availability and amount of any such financings are unknown at this time. Wave may also be required to reduce expenses, which may significantly impede its ability to meet its sales, marketing and development objectives. Based upon the available cash currently on hand, including the net proceeds from the financing described above, if we meet our current revenue and expenditure forecast for the year ending December 31, 2013 (both of which are uncertain), we estimate that we will need at least $6,000,000 in additional cash in order to continue as a going concern for the next twelve months ending December 31, 2013. The foregoing is based on meeting our current revenue forecast for both Dell and non-Dell revenues for the year ending December 31, 2013."
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8805318
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