I don't know about the M&A expenses. To me the stock looks like a diamond in the rough that has not been discovered by wallstreet yet. OPWV looks like it could perform the same as RIMM if the growth potential is there like the CEO says it is.
I did not do alot of DD before I bought it. I trusted my broker at Lehman to do that for me and they are very bullish on the stock. The fact that OPWV is currently in 500 million phones is incredible and growing rapidly. Why didn't a short like yourself just cover in the single digits? It sure doesn't look like the Wave is going out of business.