Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events

Subsequent Events

12.          Subsequent Events

On May 7, 2013 Wave’s Board of Directors has approved a cost reduction plan to bring Wave’s operating expenses into closer alignment with current revenue trends and the company’s financial position. The objective of these reductions is to bring overall spending across departments down by approximately $10 million per year, until such time as revenue and cash flow trends support increased investment.

CERTAIN FORWARD-LOOKING INFORMATION:

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  These statements include, but are not limited to, statements regarding contingencies, future prospects, liquidity and capital expenditures herein under “Part I Financial Information—Item 2 Management’s Discussion and Analysis of Financial Condition and Results of Operations.”  The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements.  Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond our ability to control.  Actual results could differ materially from those projected in the forward-looking statements as a result of the risk factors set forth below and detailed in our other filings with the Commission during the past 12 months.  Wave assumes no duty to and does not undertake to update any forward-looking statements.