I am...
Yes, I am disappointed as well. Just means more dilution when the preferred gets converted to the common in the future. And more $$ drained from bottom line to pay that 6%.
But, this is not an uncommon situation with small start up companies. WAVX is still in the complicated capital structure phase of development. Lets face it, WAVX does not make much money from its Great Stuff site, in fact, WAVX burns cash to run this site. I might be disapoointed, but I am not surprised that the company needs cash in a bad way. TAVA recently underwent a PP and the stokc price fell about 20%. BUt it rebounded to new highs shortly after that after some big ocntracts were announced.
I'd like to find out exactly how many shares were issued and at what disocunt to the market value. Usually these PP deals, if they are reasonable, go off at about 10-15% discount to market.
Anybody out there who can provide a ocunt of all shares, in other words, fully diluted?
DocStone |
