WAVE SYSTEMS CORP
Technology · Computer Peripheral Equipment, NEC · DE · SEC filings ↗ · Compare ⊕
Financials
SEC XBRL · annual| FY14 | FY13 | FY12 | FY11 | FY10 | FY09 | |
|---|---|---|---|---|---|---|
| Revenue | $5.3M | $5.8M | $28.8M | $36.1M | $26.1M | $18.9M |
| Operating income | −$3.2M | −$10.2M | −$33.8M | −$10.9M | −$4.0M | −$3.3M |
| Net income | — | — | — | — | — | — |
| Total assets | $8.0M | $11.8M | $18.6M | $30.1M | $17.1M | — |
| Total liabilities | $14.9M | $20.8M | $21.5M | $18.6M | $14.4M | — |
| Equity | −$6.9M | −$9.0M | −$2.9M | $11.5M | $2.7M | −$1.9M |
| EPS (diluted) | — | — | — | — | — | — |
| Shares out. | — | — | — | 84.3M | 79.9M | 68.5M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2014- Operating margin
- −60.9%
- Net margin
- —
- Return on equity
- —
- Return on assets
- —
- Return on capital (ROCE)
- —
- Liabilities / assets
- 186.1%
- Debt / equity
- —
- Book value / share
- —
- Revenue growth (YoY)
- −8.0%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2014- Altman Z″ (distress)
- -181.87distress
- Piotroski F-Score
- 2/5weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 3 severe● 4 warning● 0 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Revenue declined year-over-year
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Nov 17, 2015
- NT 10-Kmissed a reporting deadline ↗Mar 16, 2012
- NT 10-Qmissed a reporting deadline ↗Nov 16, 1998
- NT 10-Qmissed a reporting deadline ↗May 15, 1998
- NT 10-Qmissed a reporting deadline ↗Nov 14, 1997
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Wave Systems Corp10% owner | Dec 14, 2017 | Sell | 1.5M | $22.00 |
| Wave Systems Corp10% owner | Sep 13, 2017 | Sell | 4,805 | $22.25 |
| Wave Systems Corp10% owner | Sep 11, 2017 | Sell | 15,000 | $22.58 |
| Wave Systems Corp10% owner | Sep 7, 2017 | Sell | 15,000 | $22.26 |
| Wave Systems Corp10% owner | Jul 20, 2017 | Sell | 18,780 | $22.83 |
| Wave Systems Corp10% owner | Jun 23, 2017 | Sell | 561,712 | $22.68 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Material events
SEC Form 8-K · most recent- Bankruptcy or receivership · Other material eventAug 29, 2016
- Entered a material agreement · Bankruptcy or receivership · Completed an acquisition or disposition · New financial obligation · Other material eventAug 16, 2016
- Bankruptcy or receivership · Debt acceleration / triggering event · Director / officer changeFeb 1, 2016
- Modified shareholder rights · Amended charter or bylaws · Shareholder vote · Other material eventDec 30, 2015
- Entered a material agreement · Unregistered equity saleDec 18, 2015
- Director / officer changeDec 15, 2015
- Changed auditorOct 2, 2015
- Entered a material agreement · Other material eventSep 29, 2015
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 4FORM 4 SUBMISSIONDec 18, 2017
- 4FORM 4 SUBMISSIONSep 15, 2017
- 4FORM 4 SUBMISSIONSep 13, 2017
- 4FORM 4 SUBMISSIONSep 11, 2017
- 4FORM 4 SUBMISSIONJul 24, 2017
- 4FORM 4 SUBMISSIONJun 27, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.7)Jun 12, 2017
- 3FORM 3 SUBMISSIONJun 8, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.6)Jun 2, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.5)May 30, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.4)May 26, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.3)May 24, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.2)May 22, 2017
- SC TO-T/ASC TO-T/A (AMENDMENT NO.1)May 19, 2017
- SC TO-TMay 12, 2017
Event-driven situations (2)
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