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Ps is Peter Sprague IMHO
Sincerely,
Jas.
Bozo.....2 quick points.....
1) re bundling....does McAfee derive any fees from NEC?
2) re cost after 30 day trial.....did you notice how much McAfee is charging for a yearly subscription???
Jas
Dig ....according to. Sks....wave WON that contract"!!!
I'm surprised nobody has picked up on what Taxi Vader noted.....
Sincerely,
Jas
New Wave.....very good question.....
Sincerely,
Jas
Mig...re revenue numbers.....Last quarter they came in at what...7.4 million?? Q2 had the closing of the BASF deal. Shouldn't these things mean that our Q2 numbers should be higher than Q1?? I have no idea where the numbers will come in....but it just seems that Q2 should be higher than Q1
Tuesday afternoon....I would like to hear some updates as to those 10-20 companies...
Update on our mobile work
Update on the government side
Update on whether we jumped the gun in the hiring explosion within the company......
Is any r&D being compensated by other companies
What is the company seeing regards SEDs and how does their view differ from the recent report about SEDs simply being a niche product.
Sincerely,
Jas
Mig...what exactly did you disagree with?? Regarding companies not spending foing into a possible double dip......do you think this will also translate to security related IT spending?? I'm not as pessimistic as you seem to be regarding the possibility of landing another large company or two.
Sincerely,
Jas
pfflyerisme The problem about being a wave investor is that our timelines...which in part have been created by statements from managment have been much LONGER than anticipated. This has played into the hands of the shorters. Having said this...it does not mean that things are not progressing in our favor behind the scenes. One of the most important points I learned while attending the recent shareholders meeting is why some of the sales have taken so long to complete. What is somewhat irritating is that given that fact...and it is a very reasonable explanation as to why the sales cycle is longer than what some would expect.......why does management put these goalposts out there when they are in uncharted waters. I contend that the company has NEVER been in a better position as she is today. The upcoming NSA show hopefully will shed some light on the government side. Hopefully...we should also hear from some test companies and hear about their experiences with Trusted Computing. The bottom line is this...THERE IS NO OHTER ALTERNATIVE TO TRUSTED COMPUTING TECHNOLOGY AS FAR AS THE FEDS ARE CONCERNED.....As long as that remains true....i'm not going to get concerned.
Sincerely,
Jas
Summerblaze....Not yet profitable.....That should not be a huge surprise given that our revenues are probably in the highh 7s to the low 8s and our expenses are probably in the 9s. I guess we will get our numbers tomorrow night...the good news is that unless the revenues went down into the 6s.....our stock should rebound...as long as the general market does not completely implode
Sincerely,
Jas
Oknpv....re basf.....thanks for the correction.....my simple point is that in the void of additional news....it is easy for certain individuals to make insinuations that are not supported by the facts.
Sincerely,
Jas
Working capital....re sales last quarter....there was the largest chemical company in Germany......re Google....if they decided to use TPMs made by Infineon....is it any surprise that they would use their software???? The advantage wave has is when there is.a.mixed TPM environment....or when you are talking about managing TPMs and seds.....your arguments are rather hollow...imho
Sincerely
Jas
Workingcapital ....another pipe.....really???? What credible rumblings have you heard????
Sincerely,
Jas
Samk....sks may also be simply getting our name out infront of the institutional folks PRIOR to the upcoming NSA show.
Sincerely
Jas
Gerbil....the problem with your theory is the following.....this is NOT a failure in Wave....but rather a complete lack of understanding by the IT depts. across the spectrum. There is no substitute for TPMs going forward!!EVENTUALLY....TPMs will be activated....and Wave will be one of the companies that will greatly benefit. One either believes that there is a reason why EVERY major pc oem (outside of Apple) offer TPMs....or you don't....If you do not believe that there is a good reason why TPMs are still being included despite a complete lack of activation....then one should sell and go short. If one believes that there IS a good reason....then one should buy and go long.....It's as simple as that
Sincerely,
Jas
Barge...re Expat...YOU ARE DEAD WRONG!!! One may not always agree with Expat...but he's no Chameleon....Re the BOD....let me assure you that he's NOT the only one who believes the way he does. Those of us that had a "pre-meeting" with Gilder discussed similar concerns. We were given certain assurances...let's see what comes about in the next few months. If nothing changes regarding the make up of the bod by the end of the year...then more aggressive actions will be required for the next proxy vote.
One of the most important things I learned from the recent SHM is how complex these potential sales truly are for Wave. First...they must convince the potential client to switch to SEDs over software encryption. That itself can take a long time for pilots to run their course. Then...after the potential client has made a decision to adopt SEDs...then Wave has to then compete head to head with the software encryption guys for the right to manage those SEDs that Wave convinced the company to go with......there are enormous growing pains to say the least.....The problem is when upper management throws out comments like...5 deals to close by the end of the year although some may slip into Jan. Well...here we sit in the middle of july....and all we have heard about is the expansion of the GM deal and BASF........WHERE ARE THE OTHER 3 DEALS????.....and there is the problem......total lack of trust. Does this mean that Wave is not infact at the end of these sale cycles and that we will eventually hear about these missing deals....no!!! we are very close.....but the problem is that when investors make decisions based on info gleaned from upper management...and that info turns out to be worthless......that has directly lead to the current lack of trust in our CEOs commentary by the marketplace. What SKS needs to do is stop making forcasts when we are still in the very early stages of the transition to TRUSTED COMPUTING. The fact that we do not have a BOD that looks after shareholder's value has in part directly contributed to this situation...IMHO
Sincerely,
Jas
TKC....Great post!! For those of us who have been involved with Wave Systems for as long as we have been...one has to recognize that when we first got in....the only thing that existed was the Embassy 2100 and a vision. That was it!! No infrastructure was present....most people thought that the security on the net was fine.....Looking back...there was no way we were going to get to our endpoint UNLESS the OEMs had decided to place the Embassy 2100 chips into their PCs. This obviously did not happen. The next step was to help develop a dummied down version of the security chip and our purchase of N*Able went a long way into the R&D. The TPM came along and so did the TCPA which then morphed into the TCG. The OEMs had to be convinced to place the tpms on their products which they did AFTER the DOD made them a requirement. This DOD was "convinced" to place the tpm requirement to a large degree by the work of Wave Systems. Even then....there was no "REASON" that would cause corporations to switch from the current standards to brand new technology until very recently.
We have now entered into the perfect storm for Wave Systems. We have the infrastructure rolled out.....the various pieces for Trusted Computing are finally getting into place. NOW IS THE TIME!!!SKS and his team have done a very good job at getting us to this point. NOW IS THE TIME FOR THEM TO DEMONSTRATE THAT THEY ARE ABLE TO EXECUTE THE SALES PORTION...... I sincerely believe that they are beginning to demonstrate that ability with the GM sale x 2/ BASF.....they need a couple more major deals and I believe we will be off to the races...IMHO
Now getting back to your post....You're absolutely correct. We shareholders are a hidden asset for the company. I know a few of our friends who are working behind the scenes helping the company along. Newbies like ExPat provide a very good resource for the company and her shareholders..... to take advantage of his understanding of securty issues (from the corporate perspective) as well as his understanding of Trusted Computing. There is no reason why we as a group could not be constructive in helping to spread the concept of Trusted Computing.
Sincerely,
Jas
Bp....you're absolutely correct.....I don't know why I was thinking it was on the last trading day in June. So far it looks as though 1.1 million shares have come out.....not as bad as what I feared.....if these numbers stay within this range.....it would still leave over 8 million shares shorted....
Sincerely,
Jas
Yulkon......the rebalancing is NEXT friday...isn't it???? Today was the last cut off date.......What I'm unclear about is if our market cap is less than last year.....does it mean that less shares can be held in the index funds?
Sincerely,
Jas
Warbil.....re slog.....Warbil....we've been together in this stock collectively for over a decade. We are JUST about to be rewarded BIG time. I sincerely believe that we are 1 or 2 major wins away from the flood gates opening up. There are some who would like to just have this company sold......I truly believe that would be a HUGE mistake. Even at 10 dollars a share....we would be leaving a tremendous amount of money on the table. Sure there are some who would look at this figure and say that I'm delusional....and that's their opinion.....and that's fine.
Lets look at how the landscape is SLOWLY coming to bloom all around us.....
1) The GM deal was a HUGE win.....their decision to DOUBLE and then ACCELERATE their deployment was an even BIGGER deal......why you ask.......simple.....BECAUSE THE PRODUCTS WORKED AS ADVERTISED!!!
2) BASF deal.....proved that the GM deal was not a fluke. It represented a GERMAN company who kicked out another GERMAN company in favor of Wave's solution.
3) White House...we were one of a few companies that were acknowledged by the Administration for helping out with their cybersecurity initiative.
4) We are one or two major deals away from the floodgates opening up. It will become a momo game. Success will bread success. Wave will be mentioned as THE authority
5) Mobile space....probably 12-24 months out.....The trusted applet market that Wave was working on during the days of Cybercom will finally see the light of day......
Do you really want to be bought out BEFORE the landscape has a chance to fully grow out????
Sincerely,
Jas
Zets....sorry....but I'm having a difficult time following your logic.....where do you get the 16 million dollars from???
Sincerely,
Jas
Zets et al.......The recent Shelf announcement is nothing more than simply having a credit line available INCASE an opportunity arrises....be it expansion of the company through acquisition or more R&D or possibly increasing the staff to handle a large increase in orders. Wave allowed a large sum of money to expire without taking advantage of the expiring shelf.
Now for those that have been saying that we have missed the boat of first mover advantage.....could you please point to another company that has generated MORE money directly from TRUSTED COMPUTING???? THERE IS NONE!!! Can you name ONE company that has won a MAJOR trusted computing rollout other than WAVE......THERE IS NONE!!! So far...we have two major rollouts...the auto deal is actually TWO major wins IMHO and BASF. Wave is the ONLY pure trusted computing play that has been given a number of different GOVERNMENT consulting contracts over the past few years....can you name another such situation???
As of this time....WAVE is the dominant company in the trusted computing space in terms of expertise as well as revenue generated. Does this mean that we will not face stiff competition in the future...of course NOT. There WILL be competition......make no mistake about that. Right now...the TRUSTED COMPUTING space is EXPANDING on a daily basis. Wave's potential market penetration INCREASES on a daily basis via DELL and ACER. People tend to forget about these little facts. Instead they simply talk about the lack of profitability. The fact is very simple.....SKS has EVERY intention to throw every cent available to him in expanding the company's presence.
A couple points from the recent SHM....
1) There are a number of large opportunities out there that are at the END of their sale cycles
2) GD is FINALLY coming out and aggressively talking about the concept of TRUSTED COMPUTING
3) The upcoming NSA show will be highlighting the importance of TRUSTED COMPUTING
4) SKS said that his PRIMARY goals are to INCREASE the top line as well as cash on hand.....by wining large contracts that pay upfront
Believe it or not...the sky is NOT falling.....IMHO
Sincerely,
Jas
Expat......is there an email address that you can be reached at??
Sincerely,
Jas
Alea.....I got your gist as witnessed by my winking smiley at the end of my post......
Sincerely,
Jas
Seriously???? You're kidding.....right??
Sincerely,
Jas
Dig and expat....thanks.....I responded to a post that originally only had the headline.....a few minutes later....the body of the pr was posted.....so it is Infact a replacement shelf.....
Sincerely,
Jas
After the voting numbers were made public....SKS gave his formal presentation. There were a few interesting comments:
SKS's desire is to grow Wave's top line and CASH position at the expense of short term profitability. Any cash from operations will be plowed back into growing the company. According to SKS....the sale cycle is taking about 6 months....and it costs the same to go after the smaller to middle size contracts vs going after the larger accounts. Therefore....it's a greater roi to go after the larger ones at this time. The added benefit is that if we get the number one or number two company within a given sector...it makes it easier for other companies in that sector to also make their decisions to change to a different technology rather than staying with the status quo. Wave is currently engaged with a number of large european companies who are at the end of their decision making process. What does this mean??? Well....the answer to this question helps to explain why the process has taken so very long to close those 5-10 deals.
The example that SKS gave us involved the european company that ExPat has described as being BP (Which I agree with based on what SKS said) According to SKS.....going after these contracts has actually been a two pronged process. The first goal is to convince the potential client to abandon their software encryption products and change to a brand new technology...SEDs. The company inquestion agreed to make that leap...purchase SEDs back in Nov. of last year through the efforts of the Wave's sale force. Unfortunately...instead of giving the contact immediately to Wave for management of the SEDs...the company in question opened the process up to 10 different companies to compete for this portion of the contract. The current situation is that there are only two companies left in the running....Wave and one other company. According to SKS....it's Wave's contract to loose. He believes that there is a small chance the deal could close in Q2 but will most likely slip into July.....Aug 1 in the worst case. This second phase has taken a much larger time than management had thought. Unfortunately.....a number of the larger potential clients are going down the same path. The point is that Wave is at the end of the sale cycle on a number of potential deals which have taken a great deal longer than anticipated by management.
General Dynamics.....GD is one of the most important DOD intergrators. It currently is the number two company in terms of generated revenue in the Trusted Computing space....Wave is currently Number one. According to SKS...the GD event last week was VERY IMPORTANT!!! In order to understand why it was so important.....one needs to have some background info. A couple of years ago....the NSA funded GD with 20-30 million dollars to help develop the HAP program. The thinking of the NSA was that once the platform was developed...GD would become an evangelist for TRUSTED COMPUTING. Unfortunately.....that did not happen at the speed the NSA had hoped for. After receiving heat from different levels of governemnt...GD has finally taken up the TRUSTED COMPUTING mantel. During the first few minutes of last weeks event....the rep from GD made the following remark....going forward...GD INTENDS TO USE COTS TRUSTED COMPUTING PRODUCTS BASED ON TRUSTED COMPTING GROUP STANDARDS in regards to their clients. For the FIRST time....we have a DOD intergrator proclaiming the importance of the TCG standards. The next 8 slides of GDs presentation were from Wave's information for the TCG. According to SKS...GD will have significant things to say about their plans during the upcoming NSA event in Sept. Additionally...this will FINALLY spur the other DOD intergrators to finally take the TCG seriously.
All in all....this was a very productive SHM. It provided us with greater clarity as to why things were moving slower than what we had all hoped for......but make no mistake....as Weets likes to remind us...things are HAPPENING. Use this weakness as a buying opportunity......
Sincerely,
Jas
2011 Share Holder Meeting notes.....
Let me start off by saying that I've been attending these meetings on and off since 1998. Through the years....a number of us shareholders have become very good friends. One of the benefits of meeting members of the BOD as well as upper management through the years is that on develops a very good "feel" for when they are shooting straight vs attempting to dodge a question with a very vaigue answer. It's one thing to listen to someone on a cc vs talking to them face to face while also watching their body language.
As in years past....a group of us got together prior to the meeting to discuss our thoughts about the state of Wave. Unlike in past years...when the market was not quite there yet......this year we found ourselves in the middle of a perfect cyber storm....yet our share price descends into the toilet. The discontent amongst the attendees was very palpable. George Gilder was approached by Weets to join us to discuss issues that were concerning us about the company. 20 minutes later....George was true to his word and joined us. Let there be NO misunderstanding as to what transpired next.......THERE HAS NEVER BEEN A CONFRONTATION BETWEEN LONG TIME SHAREHOLDERS AND A MEMBER OF THE BOD LIKE THIS.... during the years that I've been attending these meetings. To those on the i-hub board who continue to say that this meeting was the same old same old rah/rah meeting have NO clue as to what was said and discussed with Mr. Gilder. It was a very frank and honest discussion of a variety of topics. This pre-meeting provided a unique opportunity for individual shareholders (who collectively own millions of shares) to sit with an important memeber of the BOD and honestly discuss a variety of serious issues. I've gained greater respect for Mr. Gilder for being willing to sit and listen to our concerns. He assured us that he was going to take our concerns to the other members of the BOD as well as to upper management.
The voting on the BOD as well as the other measures were a lot closer to going down to defeat than at any time in the past 13 years.(not including the option plan that was changed after a huge uproar from the shareholders a few years ago) Trust me when I say that the message was received loud and clear by both management and members of the BOD.
For all the bluster and chest thumping in the days leading up to the meeting.....ALL of the hard ball questions asked during the formal portion of the meeting were asked by the "old timers".....the same people who have been accused on more than one occasion by some on this board as being no more than cheerleaders for Wave's management. Amazing how the loudest critics are so often MIA when it comes time to talk directly with management or BOD members...be it on a CC or at a SHM.......
Part 2 to follow......
Sincerely,
Jas
"They know...its not sufficient....But its cheaper"......not according to PWC.....fwiw
Sincerely
Jas
dalu6...re TPMs and major calamity....I think the spark for activations of TPMs will caome from the Feds in the form of machine authentication....IMHO Hopefully....we will see the start of this drive towards Trusted Computing in the next 6-12 months.
Sincerely,
Jas
Doma......You're also correct!!! Are you back in???? Anyhow.....SKS and the gang need to execute on the enterprise side.......eventhough the feds are moving in the right direction...the timing is always up in the air. BTW....did you all notice the freedom??? Hopefully....we can all get back to discussing the pros and cons of this little company.
Sincerely,
Jas
Muenchen....You are correct....it hit in the low .20 in the darkest days.....
Sincerely,
Jas
Dabears...re Booz Allen....Isn't one of our new employees a former employee of Booz Allen???
Sincerely,
Jas
Re Jermart and shorts.....People need to get use to the idea that the higher our valuation gets.....the more shorts we will attract. From the purely short perspective....we are way overvalued based simply on sales vs our market cap. What they are missing...and truly don't care about is the intrinsic value of our technology as well as the value associated with being one of the industry leaders in the Trusted Computing revolution. Honestly....this puts them at a distinct disadvantage....because...they will not see the WAVE come in as the feds finally get serious with this nation's cybersecurity. If we also have a SHORT bake......so much the better.
Sincerely,
Jas
Jermart.....You're not AVOIDING my list of questions regarding Wave....are you????? You came to this board throwing around some inflamatory comentary...but for what ever reason.....you seem unable to answer some rather simple questions....WHY IS THAT????
Sincerely,
Jas
jermart....Maybe you missed my post....BUT I WOULD SURELY APPRECIATE YOUR IN DEPTH ANSWERS TO MY SIMPLE MINDED QUESTIONS.....You see....I'm trying to educate myself and would appreciate any help you can provide
Sincerely,
Jas
EXPAT....I've said this before to you.....but you really need to be careful....you're in danger of contracting that dreaded disease.....being a WAVOID
Sincerely,
Jas
Jermart....re Dell....few questions for you if you don't mind:
1) What is the current relationship Dell has with Wave?
2) What services does the security services firm Dell recently purchased provides that would negate Wav's value to Dell??
3) Do you believe that the NSA's endorsement on Trusted Computing technologies is an example of PUMP and DUMP???
4) Do you believe that the Obama's administration to roll out initiatives that call for trusted ids an example of PUMP and Dump??
5) Do you consider the MULTIPLE contracts for consulting that Wave has received over the last few years with an un-named agency within the DOD an example of Pump and Dump??
6) Do you consider the GLOBAL AUTOCOMPANY not only EXPANDING but ACCELERATING deployment of their TRUSTED COMPUTING roll out an example of a PUMP and DUMP?
7) Do you consider Price Water house PAYING Wave a premium for a piece of software that they ALREADY had from a different vendor (their chief competition btw) They became the LARGEST user of TPMs in the world. (Over 150,000) Is this movement towards using TPMs an example of PUMP and DUMP??
8) HP...Over the past few months ...we have seen an exp[losion of Wave's products that are now available DIRECTLY from HP.....Is this another example of a PUMP and DUMP??
Always interested in reading another perspective.......
Sincerely,
Jas
Waverider..re cash on hand.....I agree with those individuals who feel that we should have between 8-10 million in cash reserves. My concern is that SKS may need to grow the company very quickly to meet the potential demand of govt. work. Having 9 million dollars more in the coffers will lead to increased flexibility....imho
Sincerely,
Jas
Re 5-6 dollars...I agree!
Jas
Waverider...re possible PP.....When I submitted yesterdays post....I was amazed how the stock price was walked down ...rather significantly...mind you....especially in light of the action on the prior day.... The other times I have seen that type of action has been immediately prior to a pp. Obviously...I was wrong since we did not get a pr or an sec filing last night. In view of this.....one of the other possibilities is that we experienced a short attack given our recent run-up. If this is the case....that's fine with me.....they will pay the piper....imho
Sincerely,
Jas