Liquidity	12 Months Ended
Dec. 31, 2012
Liquidity
Liquidity	(2) Liquidity The accompanying consolidated financial statements have been prepared assuming that Wave will continue as a going concern. Wave has incurred substantial operating losses since its inception, and as of December 31, 2012, has an accumulated deficit of $396,916,216. Wave may incur an operating loss for the calendar year of 2013. As of December 31, 2012, Wave had negative working capital of $5,731,535. Wave has begun market introduction of its security and other software products and has signed initial distribution contracts for these applications. However, due to the early stage nature of this market, Wave will not generate sufficient revenue to cover all of its cash flow needs to fund its operating requirements for the year ending December 31, 2013. Because Wave will not have sufficient cash to fund operations for the year ending December 31, 2013; and given the uncertainties described above with respect to Wave's revenue outlook for 2013, Wave has been and will continue to be actively engaged in financing activities in order to generate additional funding to cover its operating costs for the year ending December 31, 2013. These activities included the filing of a $30,000,000 S-3 shelf registration with the SEC on June 21, 2011, which was declared effective on July 22, 2011. As of March 18, 2013 approximately $11,244,000 in gross proceeds are available under the June 21, 2011 shelf registration statement, which may be used for future financings, although there can be no assurances that future financings will be attainable. During January 2012, we entered into an At the Market Sales Agreement with MLV & Co. LLC ("MLV") under which we are able to sell shares of our common stock for aggregate gross proceeds of $20,000,000 from time to time through MLV. During the year ended December 31, 2012 and as of March 18, 2013, Wave sold 7,893,066 shares of its Class A common stock through MLV at an average price of $1.18 per share, for net proceeds of approximately $9.1 million after deducting offering costs of approximately $290,000. Our ability to sell shares under this agreement is subject to certain conditions, including the listing qualifications of NASDAQ. On August 8, 2012, Wave sold 2,587,824 shares of Class A Common Stock at $0.6425 per share for gross proceeds of $1,662,677 under the June 21, 2011 shelf registration statement. Wave realized approximately $1,533,000 in net proceeds after deducting the placement agent fees of $99,761 and additional legal and other fees associated with the issuance of these securities totaling approximately $30,000. In connection with the financing, Wave also agreed to issue warrants to the subscribers to purchase up to 1,293,912 shares of Wave Class A Common Stock for $0.58 per share. These warrants expire on August 8, 2015. Wave also agreed to issue a warrant to the placement agent (as part of the fees paid to the placement agent) that will allow the placement agent to acquire up to 155,269 shares of Wave Class A Common Stock for $0.58 per share. This warrant expires on August 8, 2015. On October 23, 2012, Wave sold 3,324,750 shares of Class A Common Stock at $1.0025 per share for gross proceeds of $3,333,062 under the June 21, 2011 shelf registration statement. We realized approximately $3,073,000 in net proceeds after deducting the placement agent fees of $199,984 and additional legal and other fees associated with the issuance of these securities totaling approximately $60,000. In connection with the financing, we also agreed to issue warrants to the subscribers to purchase up to 1,662,375 shares of Wave Class A Common Stock for $0.94 per share. These warrants expire on October 23, 2017. Wave will be required to sell shares of common stock, preferred stock, obtain debt financing or engage in a combination of these financing alternatives, to raise additional capital to continue to fund its operations for the twelve months ending December 31, 2013. If Wave is not successful in executing its business plan, it will be required to sell additional shares of common stock, preferred stock, obtain debt financing or engage in a combination of these financing alternatives or it could be forced to reduce expenses which may significantly impede its ability to meet its sales, marketing and development objectives, cease operations or merge with another company. No assurance can be provided that any of these initiatives will be successful. Due to its current cash position, capital needs over the next year and beyond, and the uncertainty as to whether it will achieve its sales forecast for its products and services, substantial doubt exists with respect to Wave's ability to continue as a going concern.

(2) Liquidity

The accompanying consolidated financial statements have been prepared assuming that Wave will continue as a going concern. Wave has incurred substantial operating losses since its inception, and as of December 31, 2012, has an accumulated deficit of $396,916,216. Wave may incur an operating loss for the calendar year of 2013. As of December 31, 2012, Wave had negative working capital of $5,731,535.

Wave has begun market introduction of its security and other software products and has signed initial distribution contracts for these applications. However, due to the early stage nature of this market, Wave will not generate sufficient revenue to cover all of its cash flow needs to fund its operating requirements for the year ending December 31, 2013.

Because Wave will not have sufficient cash to fund operations for the year ending December 31, 2013; and given the uncertainties described above with respect to Wave's revenue outlook for 2013, Wave has been and will continue to be actively engaged in financing activities in order to generate additional funding to cover its operating costs for the year ending December 31, 2013. These activities included the filing of a $30,000,000 S-3 shelf registration with the SEC on June 21, 2011, which was declared effective on July 22, 2011. As of March 18, 2013 approximately $11,244,000 in gross proceeds are available under the June 21, 2011 shelf registration statement, which may be used for future financings, although there can be no assurances that future financings will be attainable.

During January 2012, we entered into an At the Market Sales Agreement with MLV & Co. LLC ("MLV") under which we are able to sell shares of our common stock for aggregate gross proceeds of $20,000,000 from time to time through MLV. During the year ended December 31, 2012 and as of March 18, 2013, Wave sold 7,893,066 shares of its Class A common stock through MLV at an average price of $1.18 per share, for net proceeds of approximately $9.1 million after deducting offering costs of approximately $290,000. Our ability to sell shares under this agreement is subject to certain conditions, including the listing qualifications of NASDAQ.

On August 8, 2012, Wave sold 2,587,824 shares of Class A Common Stock at $0.6425 per share for gross proceeds of $1,662,677 under the June 21, 2011 shelf registration statement. Wave realized approximately $1,533,000 in net proceeds after deducting the placement agent fees of $99,761 and additional legal and other fees associated with the issuance of these securities totaling approximately $30,000. In connection with the financing, Wave also agreed to issue warrants to the subscribers to purchase up to 1,293,912 shares of Wave Class A Common Stock for $0.58 per share. These warrants expire on August 8, 2015. Wave also agreed to issue a warrant to the placement agent (as part of the fees paid to the placement agent) that will allow the placement agent to acquire up to 155,269 shares of Wave Class A Common Stock for $0.58 per share. This warrant expires on August 8, 2015.

On October 23, 2012, Wave sold 3,324,750 shares of Class A Common Stock at $1.0025 per share for gross proceeds of $3,333,062 under the June 21, 2011 shelf registration statement. We realized approximately $3,073,000 in net proceeds after deducting the placement agent fees of $199,984 and additional legal and other fees associated with the issuance of these securities totaling approximately $60,000. In connection with the financing, we also agreed to issue warrants to the subscribers to purchase up to 1,662,375 shares of Wave Class A Common Stock for $0.94 per share. These warrants expire on October 23, 2017.

Wave will be required to sell shares of common stock, preferred stock, obtain debt financing or engage in a combination of these financing alternatives, to raise additional capital to continue to fund its operations for the twelve months ending December 31, 2013. If Wave is not successful in executing its business plan, it will be required to sell additional shares of common stock, preferred stock, obtain debt financing or engage in a combination of these financing alternatives or it could be forced to reduce expenses which may significantly impede its ability to meet its sales, marketing and development objectives, cease operations or merge with another company. No assurance can be provided that any of these initiatives will be successful. Due to its current cash position, capital needs over the next year and beyond, and the uncertainty as to whether it will achieve its sales forecast for its products and services, substantial doubt exists with respect to Wave's ability to continue as a going concern.