m3u to wave conversion is not possible, simply because the first file is a playlist and the other is audio file. At best you can locate the paths to the multimedia listed in the playlist, but these are quite often just relative paths, meaning same folder.
This conversion entry was verified by us and conversion was flagged as wrong or not possible.
Usually this happens when the conversion would try to convert different types of data between each other, such as audio to image, or it is not possible because incompatibility between programs, caused by closed file formats, very limited support etc.
If you find entry that you feel is flagged as bad wrongly, please tell us in the discussion below with as much as information as possible so we can fix it.