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surf'sup...
i haven't violated the TOS.
that'd be you!
i'm a squeaky wheel for reform (you saying there *isn't* a need for it?).
i do not want inside info.
my comments are to the "we knew it all along" crowd.
how'd they know?
i know in the binary world of the most zealous void there are only two possibilities (or acceptable viewpoints).
LONG cheerleader -OR- "sell & move on" (which the 2nd half of the logic is designed to support the first).
i questioned (& will continue to do so) the MANAGEMENT of this company. you think a fund analyst *won't* ask questions about "loans"? You live in a dreamworld if you think Wall Street scrutiny will tolerate the "family biz" conduct of this *publicly traded* company.
you are entitled to think that stuff like that is fine...we'll have to disagree.
AND, much has changed over the years - INCLUDING my understanding of the law & that includes corporate, M&A and securities.
if you believe that wave mgmt has been 100% honest, forthcoming, saintly or whatever, it's your perogative.
Wall Street will disagree with that viewpoint & be much closer to mine. Your position would logically include scenarios where mutual fund managers would hold wavx & ask no questions.
if your view was in accordance, there would be little need for any financial publications -- all they'd need is to publish the prices, volume, etc.
so i'm worse than a basher -- i put my capital into the company & expect proper corporate governance & adherence to fiduciary duty as a shareholder...
yeah, *that* makes sense!
Trance is *not* my cohort btw... i'm MUCH younger.
you're of the ilk that would have approved of Enron (as long as you made a profit on the stock).
it's nonsensical whether you believe it or not. it's funny - all i want from wave is to end the monkey business & self dealing, self gorging actually... that is NOT too much to ask.
SPIN
PS go check the record - "for years" i didn't post. AND when i came back (even when i wasn't long) i rooted for you guys to get your money back.
surprised?
of course.
were you surprised that HP deployed w/Infineon & left Wave on the bench? did that make things look like *this* development was imminent? are you saying you *knew* this would happen w/some sort of Nostradamus-like certainty? come to think of it, you do post some moogly-googly prediction stuff that makes me wonder...
the fact of the matter is that the little risk capital i had all went on wavx not that long ago - after - losing a big pile years ago. d_amn the torpedoes & the "fool me twice" addages collided, but i came back in to the stock. money talks & all that...
i would think that would say something about my sentiment. but was CL stoopid for being on sidelines & owning it just over a buck *with* INTC news?!? not IMO.
in terms of investing, the fact that i went long should suggest i was sold on the idea that $.94 was less than what it was really worth... okay, okay, there was that one day where i woulda taken $.94, but...
i've been wrong many times - resisting the urge to sell wasn't one of 'em.
i don't have grape kool aid foam all over my mouth either... & think back&fill from 1pm on = blowing through $5 on way to $10 if there is any substantive follow-through & henceforth SKS gets a benefit-of-the-doubt nod.
tally ho indeed,
SPIN
PS good call w/wavetex.org on yahoo, btw.
PPS sometimes the difference b/tw unspoken & tacit approval is indistinguishable to *many* naked eyes. but the point is (sorta) well taken... fyi - not a premium member.
well Ohhhhh-KAY!
yer so entitled to that opinion.
they have repeatedly embellished, over-shot, over-expected, obfuscated & disclosed only when required by law AND after-the-fact.
how 'bout a late-in-the-Q projection of $19mil revs in a Q (about 2-3 years ago i might add), one that SKS had the chance to back off from when GROW inquired & instead chose to stick w/the forecast?!? was that "absolutely straightforward & honest" ?!?
was the FOUNDERS' SHARES grab for the cookie jar "absolutely straightforward & honest"?!?!?
machiavellian logic doesn't count.
LOL
SPIN
reading comprehension?
i subscribe to the theory that there was 13D buying.
i subscribe to the theory that everything is different now.
i subscribe to the theory that TCG deals are possible, no, likely now.
The NEC thing is a question based on the euro test.
The IBM thing is possible but last i heard it was one of those "we can "support" that technology... sort of along the lines of "we predict this is going to happen."
this is different - INTC blue-lighted it, major wires picked it up everywhere & they just did 80Mil in volume in two days!!
what part of what i've written today is confusing?
i'll be glad to clarify further if needed.
SPIN
PS Haz-Mat, since yer a name-dropper... tell me who "chooch" is?!?!?
haz-mat
been following it since late 98.
and you?
don't recognize the handle & i don't iggy.
@ least not w/the bored's features.
if you don't recognize the truth in my statement, i'd urge you to check out wave.com & roam around in the press archive. it's a "who's who" of tech.
the vast majority of those announced relationships no longer exist.
but they don't do PR when the relationship ends... it just ends in the background.
SKS most definitely was the boy who cried wolf for many years.
where were you?
SPIN
PS what are your thoughts on the founder "borrowing" a million & then in essence (in that they declared a 100% reserve against it) defaulting on that loan.
PPS what if that same guy's reason was because the stock he owns millions of shares of was at too low of a price to sell it (wish my broker would have accepted *that* reason in 2001).
PPS what if that same guy, that's the guy w/the million if i'm going too fast... that same guy he turns around and pays $600K to a bankruptcy court to buy the estate of his.. get this... his wife's company.
PPPS i can be *much* more audacious...
more-on 13D
wavx traded over 80 million shares in 2 days.
the *most* i remember in the meth-like daze of dot bomb was around 13mil & that was fueled by margin & a thriving day-trading "profession."
this just did 1.5 X the shares out in 2 days.
it's not Fidelity Magellan loading up on something that was at risk of de-list & had to rally to defend from that *twice* in the last 2 mos! that type'll enter the arena above $5 (which w/the back&fill of today after 1pm is imminent w/any decent news).
INTC likes to own (control? or at least be Gepetto) smaller concerns. multiple 13Ds also makes sense b/c of what the TCG purports itself to be. though TCG makes the Gepetto thing less likely.
13D speculation is entirely reasonable theory based on the available public info.
but hey, that's all i have to work with from here.
& i prefer it that way.
diff'rent strokes,
SPIN
giving SKS some brand new benefit-of-doubt...
the "might be on a boat somewhere" comment might result in some revs this Q & some meaningful extrapolations.
it's possible that there'll be something in the financials worth looking @ besides the red ink.
SKS deserved to be the boy who cried wolf because HE WAS THE BOY WHO CRIED WOLF!
maybe those who were so certain it was a done deal either have blind faith or info that i didn't have (& believe me, i do my own DD).
if it's the former for them, great! blind faith paid off (it usually doesn't btw) -- if it's the latter that's a problem.
i don't have blind faith or the latter.
& kinda glad about that.
maybe if i started pulling a govt paycheck i'd feel differently about it.
but one thing's fer sure... if i *was* pulling a govt paycheck, i definitely wouldn't post from work.
but that's just me,
SPIN
PS PAY BACK THE "LOAN" PETER!
everything has changed
AND nothing has changed
a blue-lighted endorsement from an INTC was unprecedented.
the volume is unprecedented.
the stated deployment timeline is unprecedented.
a 13D is not an unreasonable conclusion in light of the info that is avail now that wasn't avail just a few days ago...
unless one attends the right dinner i guess.
things change - one who holds blind faith OR one who holds based on winks & nods is not suddenly omniscient.
the info avail a week ago suggested a circling of the bowl.
coupled w/over a decade of empty "news" (that was NOT blue-lighted), how could one conclude a fait accompli w/out being irrational?
if you can demonstrate otherwise you *knew* something you should not have.
SPIN
PS & buy the way, i've never been as wrong as to borrow a million & not pay it back b/c the stock was too low to sell... AND then spend almost that much on something else.
PPS & i put my money on the table which gives me a *right* to complain about how mgmt has acted over a 14 year period. which, btw, is a helluva lot better than cheerleading to support a position, which is about the same as trans being short and bashing. I am LONG & bash.
Does Wave still have an AMD relationship?
PR was issued about 2.5 years ago (i think) reflecting a partnership w/AMD...
Does it still exist?
saw an article on a UK e.zine that predicted Wave's TPMs would be on AMD products, but Spragues haven't said anything about it in a very long time & they didn't link to that article on their website?!?
some wavoid sent the UK e.zine a white paper from around 2000 or 2001 that suggested something to this effect, but I can't find anything about it @ AMD or @ Wave, which could suggest that their "relationship" died on the vine.
Does anyone have any current info on AMD as it relates to Wave?!?
If they are going to achieve widespread deployment, NSM won't be enough.
BTW, does anyone know where the rest of us shareholders who were not at the private SF dinner could get a copy of that list the CEO showed to the 9 in attendance re: govt. vendor status?
I'm disappointed that Wave hasn't issued a PR to announce the new govt status, but maybe they're waiting for an actual govt order before they announce anything. SSPX was probably a listed vendor before they announced that flurry of govt contracts too. BTW2, is SSPX already in the de-list process? It'd be great (well, not really "great" but given the circumstances if Wave could monetize their holdings in SSPX before any de-listing should occur.
Does anyone know if Wainwright had anything to do w/those 2 wavx rallies that coincidentally hauppened right around the time wavx would have received a de-list notice according to NASD rules. I'm wondering if Wainwright had the ability to have the MMs "walk up" the stock artificially to avoid getting a de-list notice.
They've been de-listed once before & survived it, so maybe Spragues already have a plan developed if they do receive a NASD notice for non-compliance w/minimum listing requirements.
tia!
SPIN
PS 2B - thanks, got your note - i'll definitely keep "OT" outta here & drop it on RB... but YOU do the same, ok? fwiw, i was only replying to other posters questions, but i read ya loud & clear!
PPS 2B - your wavx research site (which is really impressive btw) has around 17K "hits" but Wave's European site had only, literally, 34 hits when i visited it recently. How is that possible? Is the Euro site brand new? I would think that ever Wave employee (at least) would go visit the site - do you know if Wave's employee headcount is still above 34 people? Do they still have that French office? seems like a big waste of money when it's so scarce for them right now. peace.
Does Infineon have a relationship with Wave Systems?
MANY wavx shareholders have been claiming an extensive relationship with Infineon. A Wave exec (Brian Berger did actually speak at a recent Infineon event in Germany, fwiw).
The "wavoids" suggest that such a speaking engagement, inter alia, indicates a close relationship between the two in the area of Trusted Computing.
It's worth noting that Wave over its 14 year existence (in which, incredible as it might seem, has burned through around $250Mil & has generated about $250K in revs -- you read that right... $1000 dollars in accumulated losses per every dollar of revenue over the course of 14 years).
Wave might someday succed (they do say they have some things on the cusp of deployment, but then again, mgmt has a less than glowing history in this area & has made MANY claims to have the next-best-thing & somehow, none of them has ever been delivered).
& they definitely might not succeed (totally running out of money, did a death spiral-type preferred convert financing 04/03, have a 14A for their SHM under lengthy SEC scrutiny haven't yet re-scheduled a SHM (when it was originally scheduled for 8/4).
This is all in addition to a rather sketchy corporate governance history b/c despite being a public company, is run mouch more like a family business (which in essence, it is) Father & son & other less qualified son have been taking disproportionately large salaries, bonuses, options, founders shares, etc. In fact, Father stepped down from the company & @ same time the co. took a 100% reserve against a $1Mil "loan" it had granted him which he couldn't pay, supposedly b/c he has IRS liens against him... but somehow, he also allegedly was able (around the same time) to buy a company in his wife's name out from a bankruptcy estate). It goes on & on & on.
Some of the pessimists as to the existence of a relationship w/Infineon on the wavx RB bored were able to DD proof that the deployment of TPM products was solely from Inf & HP w/zero involvement from Wave. MANY "wavoids" would reply that there has to be an NDA there & mgmt isn't allowed to talk about it...
Any info that either supports or refutes this possible relationship b/tw Wave & Infineon would really be appreciated.
I think Inf's relationship w/HP is going to be profitable & that they have a first-mover advantage in the Trusted Computing market.
The "wavoids" say they still have some imaginary "first-mover" advantage in critical TPM areas such as attestation, but haven't announced the shipment of product unit one.
I think Infineon probably has a better chance of succeeding in this new field & especially with the first-to-deploy advantage w/HP.
This is NOT spamming another stock (be-lieve me, i'm not trying to promote WAVX in the least - I own it at a loss). it's been making lower lows & lower highs for years & is in danger of de-listing & i want to sell it, but not by those means.
I'm interested in other Trusted Computing players & that definitely includes Infineon & it is very relevant IMO if they are involved with Wave Systems.
TIA,
SPIN
i'll sell ya mine for $.94 [oem]
CL
send an e-mail to Betsy Murphy. She's SEC Chief of Rule Making & would definitely be a good person to ask.
Met her last spring -- she's very nice & is e-mail friendly.
murphye@sec.gov
later,
SPIN
t123
even if i wanted to, i simply don't have the time to bang any trance-like drums.
too busy.
SPIN
PS yeah, i know there are MANY people here who have lost millions & millions on paper. that is a heeyoog part of what baffles me about the resistance to hold the execs feet to the fire while mgmt's misdeeds seem to get more outrageous w/every passing quarter... whatever.
makes it > 1
it's a completely subjective qualifier.
are you suggesting that the "negative posters" have only brought forth a few, a smattering, a smidgen, dollop or whatever marginalized term you care to use to describe the critical DD?!?
i don't really care & find myself wasting precious time in this little exercise.
it's pointless... you won't convince me, nor will i convince you. i *am* howiever, glad to see you brought back out of exile.
whatever,
SPIN
we don't worry about the same stuff?
then why is everything sugar-coated sunshine?
the company will *never* address the things you ostensibly worry about if they are not addressed.
how 'bout Bushnell?
how 'bout Bagalay (his bankrupt "Excellence" sticker company notwithstanding)
if the dyed in the wool longs were more willing to address the things that worry, the "bashers" wouldn't characterize it as a CULT, wouldn't play the ostrich card, etc.
yet, *I* am supposedly wearing the blinders.
that's rich...
SPIN
24601
are you comfortable w/the BofD's recommendation of extending the 1994 exec compensation plan?
do you think the BofD would better serve the s/h if the seats were staggered?
do you find the $174K "totally unrelated to performance" to be good corporate governance?
tia,
SPIN
24601
"Am I already aware of each and every valid point they are making? Yes. Do they make many valid points? No."
statement 1 clearly indicates that valid points are made
statement 2 negates that in wholesale fashion.
non sequitor.
*who* is wearing the blinders?
SPIN
the window then remains open Cricket
has the SHM been firmly scheduled?!?
the proxy you posted only states a month (August), NOT a date...
b/c they have not set a firm date, it would seem that the 10 day rule is in effect.
of course, i suspect it's highly unlikely that sKs would allow any such discussion if the request did technically run afoul of the By-Laws.
it's bad for selling stock...
SPIN
PS i must say i've begun to read your posts w/regularity... though i think your optimism is wholly unbridled and unwarranted in light of the absolute news blackout.
PPS didn't Pete say there was some massive news coming from SeXpress in weeks?!? oh that's right, even a century can be comprised of weeks. He didn't say precisely how many weeks it would be... did he?
discouraged?
not in the least.
i really couldn't care less.
those that refuse to look at all sides, deserve whatever results from their sksewed analysis.
SPIN
PS i once made a remark your way about something you posted & while i still think it is uncool to be "anti" ANY ethnic group, i wouldn't make the same remark today... anyway, good luck to you & it's good to see some people are beginning to think for themselves.
a voided logic
"Am I already aware of each and every valid point they are making? Yes. Do they make many valid points? No."
Q:how can these two statements possibly co-exist?
A: they can't.
wanna buy my shares @ $.94?
enjoy the view from below,
SPIN
the question was BofD performance
I am of the o'spinion that they are a mere rubber stamp.
feel free to enlighten me (& all those that are likely wondering the same) as to how the BofD, as currently constituted, is performing well?
I don't "know it better" and am troubled that you would characterize it w/such a strong term as "detest." That doesn't seem in keeping w/civility in the least.
I too tend to think the Trusted Computing tech will be adopted. However, unlike you, I am beginning to believe that it will be adopted and that Wave Systems Corp. will not exist in the current form.
As for your "swing" remark, I was a long from 1999 & still had some holdings into late 2001.
I lost over $500K.
IMO that qualifies as paying my dues & should permit me to criticize things such as the BofD recommending a renewal of the 1994 compensation plan.
Howie's $44 in exec pay per $1 of co. revenue is an entirely relevant inverse measure of pay & performance for Wave's execs.
Yet the BofD recommends that we approve an extension of the pre 'net bubble compensation plan.
does it bother you at all?
tia,
SPIN
Wave Euro site has had 34, yep, 34, *total* visitors.
including me.
beyond bleak.
SPIN
PS can some one tell me why there is even a French office still? probably a nice place for Steve & Pete to hang out, but w/an obvious cash burn problem, an NEC rollout that musta been dismal (if it wasn't they woulda trumpeted the results) & the sword of Damacles dangling... mind blowing.
CPA
haven't read the agreement in enough detail, but would hope w/$2-300K in recent legal fees, that there was language in the K to address such a scenario.
but if not, sure. IMO there would surely be a cause of action for breach.
Wave might be able to defend on imposibility of performance or something similar, but usually impossibility defenses don't work (see Suez Canal cases & progeny).
anyway.
SPIN
Tony, et al - zentertainment & 888
i'm writing something that could benefit from info on this.
Any of you 3 have a link for more info?
Tony - is "Lucky Grub" a phrase that denotes a lucky number?
i find it beyond amusing that sKs claimed that insiders wanted to buy soooo badly for the last FOUR MONTHS but were afraid of the appearance of impropriety b/c of supposed material news coming out @ any minute...
it is mind boggling -- why didn't the insiders participate in the PP (or simply do the entire thing themselves).
$4 mil should not be *that* hard to scrounge from Bushnell, Gilder, etc.
& while they worry about investing in wavx b/c of risk of apparent impropriety --- they have no problem w/a 100% reserve against Peter's million dollar "LOAN" (yeah, riiiiight), squeaked in just under Sarbanne-Oxley's passage.
also -- there isn't even a hint of corp governance reform in the proxy. just a rubber stamp. Bored seats shoulda been staggered & the 1994 emp. option plan should have been completely...
i could vent all day about this company, but i'm too busy.
i WILL say that the special dinner reeks! AND i think it is hilarious that the tapped-out voids paid the tab. sKs pulls in almost a half mil in guaranteed compensation & holds around 2mil shares & he can't pay for his own food (let alone the s/h that joined him?!?)
would also *love* to hear XAM's take on it if she was there.
it smells like obfusKsation & it would seem the SEC smells something too...
Anyway, Tony/Zen/Wavx888 if you have some info on 888, i'd appreciate.
SPIN
PS sorta funny that at least one diehard long now thinks its reasonable to hope for a different stock (SSPX) to be sold at DOUBLE its thinly-traded price in order to stave off dilution.
PPS any CEO who has the termerity to suggest that dilution on the order of five-fold of the loan shark debt of late is acceptable, should be summarily removed.
Sully - point well taken.
i'd urge you to disabuse Snackster of the notion that a private clubhouse is needed for diligent discussion.
as this thread is more like silicon investor (& developed by the same programmers) & has adequate features to avoid tranny-like carpet bombing, etc., it seems that this forum would yield the most fruitful (no pun) discourse.
"hiding out" also does a great disservice for anyone "new" who is interested in discussions.
maybe have a chat w/him about the "marketplace of ideas," the Rule of Anne & seditious libel.
a George divided against itself cannot survive.
& FWIW/IMO, agoracom as the primary residence for the diehards is unwise b/c of its concentration on Canadian penny stocks (that Chinese portal play blurb has been on its front page for weeks). It just reeks of shady.
you are what you eat,
SPIN
PS glad to see you posting again.