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FAA computer breached: 45,000 names accessed
http://government.zdnet.com/?p=4338
Here’s today’s government security breach: Someone hacked into a Federal Aviation Administration computer last week and accessed the names and Social Security numbers of 45,000 employees and retirees, AP reports.
The FAA said in a statement:
Two of the 48 files on the breached computer server contained personal information about more than 45,000 FAA employees and retirees who were on the FAA’s rolls as of the first week of February 2006.
The server that was accessed was not connected to the operation of the air traffic control system or any other FAA operational system, and the FAA has no indication those systems have been compromised in any way.
Employees weren’t too happy. Tom Waters, president of the American Federation of State, County and Municipal Employees Local 3290, told AP:
These government systems should be the best in the world and apparently they are able to be compromised. Our information technology systems people need to take a long hard look at themselves and their capabilities. This is malpractice
in their world.
Waters said that although the FAA claims this is the first breach, the union had complained previuosly about members receiving anti-union mail using addresses seemingly purloined from agency files.
Well, I would say shoring things up is long overdue. Yet another example.
Jas,
Great point.
Also, are you wondering what I am? How many other McCarthy's there may be? Maybe not as large a private investor, but nonetheless financially well heeled and multiple participant in some of those offerings?
This does raise some questions for me at least.
the best,
micro...
KEY MANAGEMENT: Getting a Lock on Secure Storage
By Walt Hubis
http://www.enterprisenetworksandservers.com/monthly/art.php?3520
Regulatory and data privacy compliance requirements are growing with the unfortunate prevalence of criminal data breaches, accidental data loss and purposeful or inadvertent data exposure. Adding to the problem, the amount of data being stored is increasing at an exponential rate. Tom Coughlin, founder of the storage consulting firm Coughlin Associates, projects that by 2015, data storage in various locations will include a petabyte (1,000,000,000,000,000 bytes) in the home and exabytes (1,000,000,000,000,000,000 or a billion billion bytes) in data centers. In 2006, the world's computers generated and processed 161 exabytes of data.
Sensitive data spends most of its productive life in storage devices. This sensitive data, vital to the competitiveness and viability of modern business, must be secured. Effective storage system security relies upon a key management system that protects data from disclosure, modification or loss, whether the data becomes part of a permanent archive or is needed for only a fraction of a second. In fact, according to research by Trusted Computing Group (TCG), 50 percent of IT professionals believe encryption of data at rest to be more vulnerable that encryption of data in flight.
To help solve the problem of data loss and associated financial, repudiation, and governmental compliance issues, TCG formed the Storage Work Group (SWG), which has defined security services across dedicated storage interfaces. The resulting open and widely available specification encompasses ATA, Serial ATA, SCSI, Serial Attached SCSI, Fibre Channel, USB Storage, IEEE 1394, Network Attached Storage (TCP/IP) and iSCSI technology, and various storage mechanisms, including hard drives, optical, tape and flash devices. Vendors are starting to implement this specification in products such as full disk encrypting drives and the group is beginning to address security for optical devices.
The TCG's storage specification recognizes that organizations attach trusted storage devices to a host computer. It also recognizes that storage policies become a priority in securing control of storage devices through deliberate location of storage hardware and/or data encryption. In addition, the TCG recommends secure, session-oriented messaging to storage devices using passwords and digital keys.
To expand on the notion of key management services as they related to the TCG storage specification, TCG recently established the Key Management Services Subgroup to pursue specific methods of managing cryptographic keys for storage devices. The full lifecycle of keys — generation, management, transmission, and disposal — is being explored. The subgroup is initially focused on storage devices and data at rest.
KEY MANAGEMENT CHALLENGES
For data to be truly secure, management of keys has to be foolproof and transparent to data users. Just as data security is threatened by disenfranchised employees seeking harm or profit from the disclosure of sensitive information, electronically stored assets are at risk if system administrators are unaware of key-protected datasets or if access is unavailable.
Encryption provision must be an accepted part of IT's information management practice. Their implementation must be bilateral so the network administrator can account for every application of the keys and manages their use, although this does not mean the network administrator has access to the data protected by the keys. In addition, a common authority for key management enables data security audits, nurtures a standard for key distribution and helps ensure sufficient protection under a key architecture.
The problems of key management are not only technical. IT employees, given the responsibility for key management, must be recognized as trusted stewards within the organization for key management to work. Data owners, sensitive to the privacy of their information assets, will want assurance of privacy. Part of TCG's key management services effort is to address the accountability of the key management structure so that every stakeholder is confident about the integrity of the data security system.
The TCG Storage Specification enables applications to take advantage of a number of established and well known trust and security services, including cryptography, public key cryptography, digital signatures, hashing functions, random number generation (RNG) and secure storage. These services require several different types of keys:
Signature verification key
Secret authentication key
Long-term data encryption
Key encrypting another key used
Key for key wrapping
Signing key
Private authentication key
Short-term data encryption key
RNG key
Key transport public key
Secret authorization key
Private authorization key
KEY MANAGEMENT: AN APPLICATION
Key management is the complete set of operations necessary to nurture and sustain encrypted data and its associated keys during the key and data lifecycles. A key management system is an implementation of all or parts of these key management operations.
As with any organizational operation, effective key management demands policies that incorporate business security requirements into a process that includes comprehensive key creation, assignment, distribution, maintenance, elimination and retirement. These key management policies ensure that the use of any key will result in auditable records, which in turn, assures security enforcement effectiveness
With the publication of TCG's Storage Specification, the key management subgroup has been tasked with defining a uniform approach to managing keys across storage devices. This effort includes defining key management operations to sustain encrypted data and its associated keys; outlining key management audit processes, and leveraging the TCG storage specification protocols and techniques for secure communications. Additionally, the group will recommend appropriate procedures, protocols and client application program interfaces (APIs) to implement authentication, discovery, and communication procedures.
TCG's key management efforts, as outlined in a new application note available November 2007 at https://www.trustedcomputinggroup.org/ groups/ storage/, address:
Secure communication between the storage device and the host system.
Authentication between the storage device and the host system.
Discovery of the storage device capabilities.
Compliance with existing data security regulations
Flexibility to comply with future state and federal legislation.
Standards for key management and their application to systems and operations formalize the purpose of this IT responsibility. With a common framework for key management in place, IT can take centralized control of secure storage keys, acting as a clearinghouse service for stored data access rights, distribution of keys, backup and restoration of key material, deletion or destruction of key material, audit of the individual key's lifecycles, reporting of secure storage alerts, and enforcement of key policy.
Government, medical, legal, insurance, pharmaceutical, financial services and banking sectors need key management services and standards. The work of TCG and its members will allow users to implement key management operations that enable appropriate levels of data interaction and security:
Storage through multiple internal and external trusted devices.
Key generation by request or automated rules.
Audits of key usage
Storage and retrieval of keys.
Modification of keys
Search for assigned keys.
Documenting key access rights
Disabling and/or destruction of keys. ENS
Walt Hubis is a software architect with LSI Corp., Engenio Storage Group, with responsibility for defining secure storage and network attached storage products and solutions. Hubis has more than 20 years of experience in storage systems engineering in both development and managerial positions and has authored several key patents in RAID and other storage related technologies. He is currently the chair of the Trusted Computing Group Key Management Services Subgroup and active in the IEEE SISWG P1619.3 Key Management subcommittee and INCITS T10 workgroups. Walt holds a bachelor of science degree in electrical engineering from Colorado State University. The TCG storage specification and key management services application note as well as more information on information security can be found at www.trustedcomputinggroup.org.
This article appears in the February 2008 issue of Enterprise Networks & Servers.
(sorry if this was posted already)
the best,
micro...
May1
Great article! Yet another SIGN that Trusted Computing is not only here to stay, but that it will be growing immensely as it continues to become more of a household name!
I am hoping as you that this will translate into serius revenues for the products offered by Wavx. Let's hope!
the best,
micro...
Hi Jas!
Thanks for your thoughts!
I was kinda leaning along the same lines about the additional interest that may have stirred up a or perhaps gotten a few long timers who were on the sidelines a little fired up and back into the mix, combined with the usual fellow longs who continue to accumulate.
I believe you to be absolutey correct about the institutions. They are dried up. There just about isn't any safe harbor these days except in the education stocks. Things like ITT Tech for one example. They are all up.
The volume combined with the price tend to make me think that the combination you described fits it pretty well.
There may be some new ownership or speculative new investors coming in but I think that would be a small percentage of what we have seen.
Things are a lot more encouraging tha is for sure and I haven't felt this good about permanence in a long time.
I am wondering if anyone has a chart that might show how several of the other key players in the Trusted Computing paradigm are doing with their SP's? That to me would be interesting as well.
Thanks again for your take on the subject!
the best,
micro...
Barge
Good set of posts,
including this one! I absolutely agree that Intel's V-Pro will help drive the standardization process of trusted computing through the use of the TPM, and as you noted in a way that only you can, it will require third party software to manage some of its capabilities.
The Herd mentality?
That was priceless!
No doubt that the MARKET SPACE which did not even exist about a dozen or so years ago is now becoming a Standard and is here to stay. I doubt also that ANYONE, could have guessed that it would take this long to get to this point, and we still don;t know how much longer to get to the point where enterprises and vast networks, including the Fed and military will activate those TPM's and begin in earnest Authenticated, Secured and Trusted Computing as a normal everyday part of daily life.
But that day is coming nonetheless.
Excellent post!
the best,
micro...
Cybersecurity looms as a top opportunity
http://washingtontechnology.com/Articles/2009/02/02/Loomis-Cybersecurity-looms.aspx
By Bill LoomisFeb 02, 2009
While most industries are suffering in the current economic downturn and credit crisis, the federal information technology and professional services industry is doing well. Most of the companies I speak with indicate they have a strong pipeline of bid opportunities and are seeing good contract funding, which is driving growth and earnings higher.
Investors are noticing as well. Public federal IT and professional services firms' stock prices ended 2008 with a 6 percent gain while the broader stock market experienced a 39 percent decline, as measured by the S&P 500. For the first time in many years, the stocks of federal IT services firms outperformed defense and aerospace stocks, which ended 2008 down 10 percent. Investor concerns about the new administration's review of big defense programs and the slowdown in commercial aerospace-related business have hurt tier-one company shares.
One of the biggest positive factors investors will focus on in 2009 is growth in federal cybersecurity spending, while one of the biggest negatives will be growing contract protests. Protests often delay the start of new contracts, thus hurting earnings growth and disappointing investors. A Government Accountability Office report released in December indicated that the number of bid protests on government contracts in fiscal 2008 was 17 percent higher than in fiscal 2007 and at its highest level since fiscal 1998. Furthermore, that increase came on top of a 6 percent increase in fiscal 2007. The report also notes that GAO sustained protests at a rate of 21 percent in fiscal 2008, down from 27 percent in fiscal 2007.
The new administration has cited acquisition reform and increased investments in the acquisition workforce as priorities — which should theoretically reduce the number of bid protests — but those efforts likely will not have an impact in the near term.
One of the biggest opportunities for federal IT firms in the next few years will be work related to cybersecurity, which is a high priority for the Obama administration. The $10 billion or more being spent on cybersecurity in the next five years will attract many companies. But I believe it will be hard for firms without key contract vehicles and strong past-performance qualifications to compete for much of the work -- at least as a prime contractor -- because it will largely come as task orders under existing indefinite-delivery, indefinite-quantity contracts or as add-on work to existing awards when they are re-competed.
Also, the agencies with the greatest amount of funding for cybersecurity projects — at least initially — are those that have enjoyed strong funding since the 2001 terrorist attacks, which includes the Defense Information Systems Agency and the Homeland Security Department.
The outlook for contractors well-positioned with intelligence agencies is positive — not only because the intelligence agencies have a leadership position on cybersecurity initiatives, but also because of the likely continuing high demand for intelligence, surveillance and reconnaissance products and services. That demand will result from the Obama administration's continuing the war on terrorism — as evidenced by the expected doubling of U.S. troops in Afghanistan — and its increased emphasis on soft power, or diplomacy, with information being a key asset.
Overall, nondefense intelligence agency budgets grew 9 percent, to $47.5 billion in fiscal 2008, according to the Office of the Director of National Intelligence. Funding under the national cybersecurity initiative should result in continued strong growth during the next few years.
Should be an interesting year to see what the Fed is going to do!
micro...
Fullmoon,
That
is an excellent point which, as the article you have posted makes very clear, it isn't cheap to have a data breach so it seems like the FRAM oil filter commercial should be in play here, don't you think?
"You can pay me now or pay me later" is pretty appropriate, don't you think?
the best,
micro...
Jas,
Good morning. I have read all your posts from yesterday and today and I think they are very good.
I have a question.
While your answer here and list of reasons for the run up of the price is without question, what I am wondering is WHO is doing the buying? Is it mostly those like the folks here and other silent long time longs who are encouraged by recent announcements and events within the Industry?
That is the unknown, at least for me it is. Any thoughts there?
TIA,
micro...
FAQ's about Trusted Storage from the TCG
http://www.t13.org/Documents/UploadedDocuments/docs2006/e06101r0-TCG_Storage_Use_Cases_FAQ_v1.pdf
This is old for some but worth looking at for others to refresh the concept(s) of how this works.
Trusted Computing Group Storage Use Cases
FAQs
Q. Why is TCG publishing these storage use cases?
A. The Storage Work Group (WG) of Trusted Computing Group (TCG) is working on a detailed
specification for extending trust and security to storage devices. That specification is expected to
be publicly available in the first half of 2006. In the meantime, these use cases are intended to
show to the storage community the scope of the scenarios that will be solved by the specification.
Q. What scenarios are covered by these use cases?
A. The seven use cases in the white paper were chosen from a much larger set of use cases that
were analyzed by the Storage WG and which contributed to the specification under development.
These use cases are both representative and illustrative and include:
- Enrollment and connection: trusted relationship between the storage device and the host
- Protected storage: for storing sensitive data
- Locking and encryption: mating a storage device and host; encrypting stored data at rest
- Logging: for forensic purposes
- Cryptographic services: supporting a variety of security services
- Authorizing storage device feature sets to hosts: for trusted and exclusive use
- Secure download of firmware: trusting firmware upgrades
Q. What is the relevance of these use cases from TCG?
A. The TCG initially focused on creating a trusted host platform. Recent work has shifted to
extending that trust boundary to peripheral devices, such as mobile devices and storage devices.
Q. Who do these use cases affect?
A. Any vendor creating storage solutions should review these use cases and should subsequently
implement the resulting specification. In the storage world, attention to security has traditionally
not been a top priority. However, the protection of corporate data is vital to the competitiveness of
any business.
Q. Why are these use cases necessary?
A. These use cases were contributed and analyzed by the Storage WG, which has active
membership from a cross-section of the storage and user community. Not only flash storage
vendors but the major hard drive vendors are participating. These participants strongly agree that
these use cases, drawn from the larger validated set, represent critical yet unsolved customer
requirements.
Q. Why is a storage solution required?
A. What is a trusted platform without trusted storage? The trust boundary must be extended to
peripheral devices that make up a multi-component trusted platform. A chain is no stronger than
its weakest link is especially true of platform-attached storage.
Q. Do these storage use cases contemplate connected, peripheral and rack-based
storage?
A. Yes. The specification will focus on each storage component, such as an individual hard drive
or flash storage device, but networked or array-based storage will have the individual
components managed by a trusted controller.
Q. Are there concerns with protocol or design requirements that should be considered?
A. The totality of use cases considered by the Storage WG have been carefully analyzed and the
specification is being cautiously drafted through extensive telecons and face-to-face meetings.
The collective technical expertise of the storage and security community is being leveraged.
Q. What is the trust model contemplated by these use cases?
A. The trust model had two basic elements:
- a trusted host platform that interacts with a trusted storage device;
- trusted storage device, with every access port and functionality under versatile
authentication and access control.
Q. Are there certification requirements for storage products that will implement the
specification?
A. TCG as a whole is studying the issue of conformance and compliance to TCG specifications.
No certification methodologies have yet been finalized. The storage specifications will certainly be
subject to any such certification.
Q. When does TCG anticipate delivering a storage specification? And, what is anticipated
to be the goal of this specification?
A. The specification is expected to be publicly available in the first half of 2006. The goal of the
specification is to extend the trust boundary from the trusted platform to storage devices.
Q. Is the TCG the only standards group working on security for storage?
A. No. The necessity for secure and trusted storage has been realized by a number of storagerelated
standards groups, including: SNIA, IEEE P1667, IEEE P1619, U3, etc. Throughout the
several-year work effort of the TCG Storage WG, the objective has been to develop a
comprehensive and flexible trust architecture that could be applied to a variety of storage
environments and requirements, such as those being contemplated by the referenced groups.
Q. What is the relationship of the TCG Storage WG specifications to the INCITS/ISO
standards T10/SCSI and T13/ATA?
A. SCSI and ATA provide the interface standards for a great variety of storage devices, including
USB-attached storage (i.e., SCSI command set). The TCG Board requested that T10 and T13
both define a Trusted Send (In) and Trusted Receive (Out) command set. Draft proposals for
such extended commands have been under review for some time and voting is expected in the
first quarter of 2006. The Trusted Send/Receive would provide the container commands and the
TCG specification will provide the payload set of commands specific to Protocol ID = TCG.
Other Protocol IDs can be assigned to other protocol suites, as needed.
Q. What are the benefits of secure storage?
A. Storage is where sensitive data spends most of its productive life. Sensitive data is vital to
the competitiveness and viability of modern business. Storage must be secured.
Q. Will secure storage devices require a separate TPM?
A. The requirements derived from the Storage WG use cases do not mandate a Trusted Platform
Module (TPM) for storage devices. However, a root of trust for storage devices is required to
extend the trust boundary of trusted platforms. This root of trust is detailed in the specification
and can be realized by a combination of hardware and firmware.
Q. When do you expect products to be available?
A. The specification is expected to be available in the first half of 2006. We cannot speculate on
when related products will be available, but the mandate exists for storage device makers to
respond quickly.
Q. Which companies are participating in the spec effort?
A. 39+ member companies of the 115+ TCG members have registered for participation in the
development of the Storage WG specifications. Not only flash storage vendors but the major hard
drive vendors are participating. We also have participation from storage management and
storage integration vendors. A complete list of members is online at
www.trustedcomputinggroup.org.
Q. How does trusted storage relate to other parts of the trusted enterprise?
A. The concept under detailed investigation in the TCG is the Multi-Component Trusted Platform
(MCTP), including how the trust boundary is extended uniformly to encompass the MCTP.
Trusted Storage plays a fundamental role in the MCTP.
Q. Could trusted storage be embedded into other devices such as mobile systems or
embedded systems?
A. Yes. For example, the TCG trusted protocols operate across and at the SCSI and ATA
interface level for storage devices supporting those standards, regardless of how those devices
are further embedded in larger systems.
Q. What are some potential applications for trusted storage?
A. EVERY application that depends on the integrity, trustworthiness, and security of relevant data
will critically benefit from the TCG Storage WG specifications. The published use case white
paper implicates a number of such applications.
-- 30 --
Sorry for the double post.
VMCStore : a TPM-based trusted storage framework
http://dspace.mit.edu/handle/1721.1/41551
This is an interesting article by a MIT Engineering student.
Trusted Storage and now as a standard is permanently here to stay.
Title: VMCStore : a TPM-based trusted storage framework
Author: Rhodes, Jonathan M., M. Eng. Massachusetts Institute of Technology
Advisor: Srinivas Devadas and Luis Sarmenta.
Department: Massachusetts Institute of Technology. Dept. of Electrical Engineering and Computer Science.
Abstract: This thesis introduces VMCStore, a framework for developing trusted storage applications on an untrusted server using a trusted platform module (TPM). The framework allows the server to provide trusted storage to a large number of clients, where each client may own and use several devices that may be offline at different times, and may not be able to communicate with each other, except through the untrusted server (over an untrusted network). The clients only trust the server's TPM; the server's BIOS, CPU, and OS are not assumed to be trusted. VMCStore draws on the ideas of virtual monotonic counters and validity proofs to provide tamper-evident storage, allowing the user to detect modifications to his data, as well as replay attacks. In particular, VMCStore uses TPM/J, a Java-based API for low-level access to the TPM, to create virtual monotonic counters using the monotonic counters and transport sessions of the TPM 1.2. VMCStore also provides a set of three log-based validation algorithms, which have been tested over PlanetLab and analyzed in this thesis. The VMCStore framework has been developed in a modular fashion, allowing the user to develop and test new applications and validation algorithms.
Description:
--------------------------------------------------------------------------------
Thesis (M. Eng.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 2007.
--------------------------------------------------------------------------------
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
--------------------------------------------------------------------------------
Includes bibliographical references (p. 63-67).
--------------------------------------------------------------------------------
URI: http://hdl.handle.net/1721.1/41551
Issue Date: 2007
Publisher: Massachusetts Institute of Technology
Keywords: Electrical Engineering and Computer Science.
Weby,
How about a reward like a stock split so we can get our shares back when it is a good time to do it? I like that idea a lot!
micro...
Hi Weby,
Yes, like you, I would be delighted with a penny a day increase! That isn't much, but like the tortois in the race with the hare, it gets you to the finish line in good shape!
The standards announcements and the HDD storage makers have me more optimistic than I have been in some time.
I am still concerned about short term financial situation, as all should be, but this Trusted Computing Group announcement with the OPAL specs completed and announced as a bonafide standard is significant and a milestone.
Now I am interested in what the numbers are going to look like for the Q4 financials. I hope the company quits dragging their feet on getting these figures ready and available. NO need whatsoever to have to wait till March.
Let's see if we can get another penny at least today! It's been a great week so far and it is nice to see my account with Wavx shares worth something again.
the best,
micro...
Amy
You
don't know me and neither does your father, but I have great and deep respect for him and he should be delighted to have a daughter like you(speaking as a father with two grown daughters of my own)
The best,
micro...
cm
This: "What TPMs couldn't do to make trusted computing a box-office celebrity, maybe hardware-based FDE can."
is an interesting statement and I think probable likelihood!
Lark Allen Day? No problem as long as this thing survives and we can all get our investments back out and maybe even make a little.
the best,
micro...
That's a strong post!
Thanks AWK for providing it! Impressive we are working closely with at least those HDD makers. I wonder what is going on with Western Digital in particular, even more so than Samsung. They have pretty good volume but I don't know if they are geared more towards the consumer market and have less presence in enterprise than the ones mentioned in that article.
Do you know?
Tia,
micro..
94C right now!
$1.00 is within reach.
Any resistance above?
micro..
Barge,
That is an excellent and informative post and LINK!
Thanks for sharing it!
micro...
Question please.
Concerning this post of TaxiVader's which demonstrates Nevada's usage of Waves TDM to manage their FDE encryption,
in relationship to the six points and subsets outlines by AWK,
does that mean that the states of Tennessee and Arizona, which chose other disk management programs to secure their info, will not be across all platforms fluid in the Trusted Computing world?
That is what I believe but wouild like some further confirmation. It seems as though by selecting thiose other management programs that according to AWK's explanatory post, they are going to be SOL in the TC arena. IS this right?
Thanks,
micro...
AWK
That was a great explanation and I appreciated it.
Thanks for clarification like that. Great overview.
the best,
micro...
Barge,
Why exactly do you think Hardjono is no longer at Wave?
He left on his own accord?
He left because he was let go by SKS because of cost reductions.
Do you believe he is at MIT and Kerberos now to be the emisary for TPM promulgation and Wave Systems?
While he has extensive working knowledge of Trusted Computing and TPM, I do not believe this makes him a wave ambassador.
As someone else said, hopefully the seaparating of the ways was on a friendly basis.
Personally, I think Thomas has needs like most people, to have an income, and Kerberos is a good fit for him. They can PAY him and he has expertise they can use.
I rteally think itis that simple, plus the fac he is a known entity to MIT.
the best,
micro...
Mig
Because that is less than 25,000 dollars worth of "interest". Low volume and low dollar amount being traded = flat SP
The big question I have relates to the economic conditions overall and their impact on the future sales of IT Security within the corporate structure. My guess is that budgets will be extremely tight and that if something is not an absolute necessity, it won't be authorized.
In light of the government's red ink raging river, I just cannot see any major expenditures in the future there either.
This does not mean that TC dies. It means that it will be even longer in development/acquisition/implementation across the various platforms.
This space will not be excluded from the downaward spiraling economy imo.
Kind of amazing that we have stayed around 30 cents actually.
The best,
micro....
TinyPine tree,
It seems to me that subject was brought up numerous times already (oh yeah, I brought it up) in the past and all we ever got was a big YAWN. Why all of a sudden now is it important?
It's too late now. What is done is done.
The only upside to ANYONE being let go no matter who it is, is capital preservation. Of course there could be MORE preservation if you let go ALL non-essential capital drains like Mikey and Petey, but you are seeing right in front of your eyes the old adage that blood is thicker than water in spite of shareholders.
Good sentiment, it just isn't going to happen imo.
Best regards,
micro...
Best wishes Zen
for a full and speedy recovery. Yes, the real issues in life are not about investment boards as you have so aptly stated.
I will put you on our prayer list as well and wish you a joyous holiday and a strong set of new lungs!
My best to you,
micro...
NewWave
That is referred to as Fiduciary Responsibility in lots of circles. It goes with the territory of running a corporation.
micro....
Vader
How much revenue do we get from that?
Thanks,
micro...
Jas
Do you have some inside info from within the company that has actually verified they are about to put WaveExpress aside (mothballed) for now and not put any more dollars that they don't have into it?
Is there some verifiable substantiation to this?
If there is, from a cost cutting standpoint alone it would be a smart move imo. However, I have seen nothing affirmative toward that end publicly, hence my question about whether you might have been TOLD that from within or not.
Thanks,
micro...
Waveduke, thanks and
Good point. I HOPE that is the case. I also hope we can hold out financially until these things can play out.
the best,
micro...
Hi Waveduke
I have been following the discussion and I know I am not a popular person here, however, broader minds would not have a problem with someone asking some simple questions I would think.
This has been raised already, but I still wonder WHY these companies who are makers and sellers of APPS have not totally embraced the very TCG standards, a group that they are a member of and that the ISO standards body is adopting, within their own organizations?
There isn't any question that the hardened security is superior. Never was a question.
SO why don't these member companies, leaders in this TCG actually IMPLEMENT the most secure solutions available?
That is what remains a mystery and is somewhat disturbing that they want to sell a PART of the total solution but they themselves do not implement (thus non-support)the total solution, from the TPM, the authentication factor, the secured storage, the FDE, the NAC, the whole broad enchilada.
Why? Is there an answer? I don't know but I sure would like to.
Thanks,
micro....
Re: ISO standards and recognition
This development of the ISO standards board embracing the Trusted Computing Group's standards has the potential to be a blockbuster for the participants and members of the TCG.
Yes folks, it's really me, the one who dislikes the last several years of financial statements when compared to the projections and statements from the head of this particular company.
So, what does the ISO standards recognition and incorporation really mean?
I don;t know whether AWK and his business deals with ISO standards or not. Mine does and has.
These standards are required to be met while doing business with a variety of different organizations, and ultimately those that have business relationships with the government.
This to me really says that TRUSTED COMPUTING STANDARDS AND SPECIFICATIONS are here to stay and will be the basis upon which business will be conducted, especially in the arena of secured data transactions and transmissions between suppliers and the Fed.
SO, where does this leave Wave?
Well, to be honest I don;t know. I would LOVE to be able to say that it means we have got it made, but I can't. It does offer a ray, a glimmer of hope that IF this company somehow survives this financial crisis it is in and lives long enough for the widespread adoption and requirement to meet this standard if you are going to do business within the body of ISO organizations including the governments, then possiblt wave's products may be purchased at sufficient volumes in order for it to actually get past break even and become a profitable organization.
That is the possibility that opens up with the endorsement by ISO standards body as I see it.
I wish you all the very best and know that I still hold every single share I ever purchased way back in 1998.
the best,
micro...
Hi Jas!
Just wondering out loud,
You made this intersting statement:
"I and others mentioned this point numerous times to management during the last shareholders meeting. We highly suggested that they bite the bullet and do a massive placement at whatever price they could get and get this issue once and for all behind us. Obviously....nobody listened...they heard...but they did not listen."
I would offer up this question: what if the y heard AND listened and just were not able to do it????
That is a possibility. We may not like to consider that, but nevertheless, it still remans a possibility. Why else would a company struggling for working capital to meet day to day expenses continuously be going back to a well, any well, every 2 - 3 weeks to get barely enough capital to survive yet another a couple two or three weeks?
Just something to consider.
the best,
micro...
Barge,
nice find. I hope that wave can derive enough revenues from slowly changing product procurement specs that have some wave product inside that the company's bottom lines start to get a whole bunch closer to what they spend.
This SP is really precarious and could use a lot of good news.
Hope this may be the beginning of some.
the best,
micro...
Good morning Jas.
You said "Dell sells in the neighborhood of 6-7 million units/quarter in which Wave receives royalty payments for....At close to 50 cents/unit...that is a royalty revenue stream of between 3-3.5 million dollars/quarter from Dell alone. "
So are you telling everyone that you expect the results from Q3 to be in excess of 3-3.5 million dollars based on this?
I would think that would be minimal figure if you your assumptions are correct, right?
But, I would not wait a few weeks to do another PP and use the shelf because they will be able to get even less because of that steep and rapid decline in SP.
I would be elated, overjoyed, thrilled if Wave actually made it to BE. I cannot say I share your optimism though.
I said right before the reverse split that these things mostly end up in death spirals and was ridiculed for it.
How is it looking now? Preacherman agreed for the same reason. We are at 20 cents post split,slightly less than seven cents pre-split.
IF wavx has the numbers you are saying they have from Dell alone, they beeter get them public in a hurry to reverse this downward and escalating spiral imo. It does not look good.
best regards,
micro...
Just my cent and a half on consultants
I have used the services of a consultant on several occasions throughout the decades and I have severed services with them multiple times.
Waveduke makes a valid point differentiating between contractors and consultants.
micro...
Hi Mark!
I am sorry. No I did not, as you have already figured out! lol!!! I suppose I wasn't paying attention.
Let's wait and see what happens with financing this week or next. That will tell the investors an awful lot. I still am suspicious of the jobtposting to a limited degree but countryboy seems to have unearthed yet another one missing the language about a well funded company.
I suppose time will be the only thing that tells.
the best,
micro...
Mark, they have already.
How about having the hard drive totally erased from anywhere?
I know that just makes it so no data is available to thieves and perhaps you are referring to physically amking the laptop worthless as in broken?
But hey, the tech does exist and it is in our product portfolio!
the best,
micro...
Weby,
One other thing strikes me about that "job listing".
WHY would a company state that it is "well funded" when looking for a job candidate?
That is a new one on me and I haven't seen it before. It appears to me to border on the "hoax" side of things.
How do you see it?
Thanks,
micro...
Hi Barge,
First, good find.
Second, I would ask what it consists of. I will be elated if this really means we are going to actually begin having revenues in a meaningful way from HP. Soon.
But, let's walk before we run so I will be thankful for the first step. Great find sir!
the best,
micro...
Thanks Telstar.
Just so you know, I have every single share ever purchased ina cash account, and that includes the additional purchases as well. SO, I have a LOT invested, but as I have said manytimes, I can afford to lose it all and not be materially affected because it is only profits I have made from other investments that I put into this speculative adventure.
The standard pat answer still reigns supreme. If you don't say anything but positive commentary with NO BASIS when asked about it, then one is "counseled" to sell.
That's a big help.
You must not see the disinction either about describing this company. Waveduke finally said it.
PROSPECTS are great.
I hope that is what you are referring to because according to Enderle, almost nobody is turning on the tpm's to manage anything, at least not yet.
I am glad you are confident of funding. Will it cost me and the other shareholders much more dilution?
Do you have any credible sources that can verify and substantiate the assertions made that this next round of funding will be made at market price?????
The experience gained by observing the actions and track record of the company seem to indicate that we are and have been down to PIPERS and we didn't do too well there last time.
So if you got a rabbit in your hat, please pull it out and show it.
Frustrated????
Not hardly. I just wanted to make the distinction and clarification of what a healthy business that is in it's best position ever looks like versus what this looks like.
I know what a healthy business looks like. It isn't this.
I also know what great prospective sales look like in terms of potential and forecasting, and there is a huge difference between the two, which is what I was trying to get others to look at and consider.
This company is far from healthy right now. If you looked at this objectively you would see that and recognize it and agree.
Does it have tremendous upside reward potential somewhere in the future, if we get that far???? Sure, maybe, hopefully.
Would I wish what I and other longs of ten plus years have gone through, and the mantra of wait till next quarter, and then it comes and we hear, wait till next quarter, and repeated over and over again, on anyone else??? Heaven's NO!
Reality Telstar is when this thing actually shows PROOF of voluminous sales and break even revenues, then that is where those prospects come into play and become hopefully reality with staying power, and consequently fulfill some very much long term dreams and hopes that many share and have in common.
My best to you,
micro...