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Bagaly was voted down but due to first 5 board members with positive votes he is not off the board unless he decides to resign.
I just left the meeting!
New Securities Registration Statement filed
http://ih.advfn.com/p.php?pid=nmona&article=58067310
100k Dump at 3:22
Like 'em or not you've got to hand it to the shorts. For the time being they certainly know where the money is. Then again one big announcement and up we go.
Slog On
Down 47% in a little over 2 months.
Jan 13th Intra day high $5.31
Mar 17th intra day low $2.83
Haven't seen these lows since the beginning of Dec.
Painful for us longs to temporarily leave this amount on the table. Like it or not you have to congratulate the shorts they have broken the 200 day ma and won the battle. After all the idea of investing is to Make money!
Even though longs will eventually win the war it doesn't make the ride the last couple of weeks any more pleasant.
Looking forward to the next substantial leg up in the not to distant future.
Stoc
Still looking for that "100th Monkey"
Short Attack or Coincidence?
Short interest has increased 158% from 4/15/2010 to 2/15/2011.
Short interest increased 113% in the 2 week period from 6/15/2010 to 6/30/2010.
http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=WAVX&selected=WAVX
On 6/25/2010 WAVX opened at 3.49 and closed at 3.60. Volume was 11,467,300 far exceeding the average daily trading volume. Most of it occurring at the end of the day. Obviously for the Russell rebalancing.
http://finance.yahoo.com/q/hp?s=WAVX&a=3&b=6&c=1999&d=2&e=1&f=2011&g=d&z=66&y=132
Would it be correct to assume that in order to keep the share price from going thru the roof with that level of volume you'd have to short as you were buying. Does this account for the dramatic increase in short interest (some naked some not) over that period of time? Are the shorts desperately trying a last gasp effort to recover?
Inquiring minds want to know!
Stoc
100th Monkey
Long Squeeze - A Short Story
Known facts:
Russell Reconstitution will occur at the end of June 2010.
2 weeks prior to reconstitution stock gradually moves from $3.00 to $3.42 on 6/24 on normal daily volume.
6/25 WAVX opens at 3.49. High for the day 3.75 and closes at 3.60. Volume is off the charts at 11,467,300. Mostly occurring at the end of the day and after the close.
Huge volume only moves the stock 18 cents or 5.2% from the previous days close?
6/15 Short interest 3,903,380
6/30 Short interest 8,308,557
An increase of 4,405,117 or 112%
Now I don't claim to be a rocket scientist, or a conspiracy theorist, but let me float this to the peanut gallery for consideration:
Entity "X" expects the price to rise with the required reconstitution purchase, and expects a subsequent fall off after the reconstitution.
So lets say on 6/25 Entity "X" shorts large volume, as they buy large volume thus muting the increase in share price.
WAVX is not far above the $2.00 margin threshold and a relatively small move will force out all margin players. (We and they know there are those that just can't stay away from margin.)
Now comes the CC of 8/9. Revenues increase but are outpaced by increasing costs resulting in an increase in net loss and a negative EBITDAS of $53,000 rather than the hoped for and long awaited cash flow break even. Same o same o CC discussion heard many times before coupled with no news. The "deal" that would likely close in 30 to 45 days from the shareholder meeting nowhere in sight.
Perfect time to light the fuse to this meltdown, and what a melt down it is.
Less than expected (or hoped for) CC coupled with general market decline. Add in the snowball of margin selling and here we are down 44.7% from the high of 8/9.
The long timers know nothing has fundamentally changed except Wave's position has gotten stronger (Acer and ASUS), and September looks very promising. There seems to be nothing in the visible cards that justifies anywhere near a drop of this magnitude other than a well thought out orchestration. Congratulations to the conductor. The shorts win this one. For now.
My main concern is an attempted buyout at the current share price. McAfee went for a 60% premium. That would equate to ~ 2.88. While I would imagine the % would be higher I doubt that it would be what most of us have held out for.
For the believers it might not be a bad time to think about IRA to Roth conversion. Conversion is based on the previous day's closing price.
This 2 shall pass...
Stoc
Waltzy - Welcome, enjoy the ride. /eom
Stoc
E6500
Just finished configuring my 2nd Dell E6500. TPM, 120gb encrypted drive, fingerprint reader and all security features being managed by Wave ETS "MO9" software. A single swipe of the finger launches pre-boot, activates the encrypted drive and logs on to windows. Passwords released by biometrics are lengthy and stored in hardware. Simplicity with extreme security and no noticeable performance hit. If this doesn't launch in significant numbers I will be amazed.
It's truly a beautiful thing!
ps Encrypted drives are not currently available on the E6500 and E6400 under small and medium business due to a "lengthy lead time." Looks like they just might be catching on.
Stoc
CTS and XXXX - Thanks for the links. Obviously all the SEC filings are not listed in the "SEC Filings" link on Yahoo Finance.
Nice to know this funding option is at least available, albeit with further dilution. Hopefully the small placement amount portends an expected higher share price sooner rather than later. This placement is slightly less dilutive than the previous.
Some assumptions:
1. If and that's a big if, breakeven is around the corner and the 6.5 million additional capital requirement is now down to 5 mill.
2. All the additional funding comes from share palcements at these levels. (which hopefully it won't)
3. The outstanding share count should not go beyond the low 60 million range (180 million pre split).
This still leaves plenty of room for significant share appreciation with demonstrated revenue growth.
XXXX - Do you have a link to this June 23, 2008 prospectus showing the new shelf effective. The last I have found is the S3/A on June 20, 2008.
http://ih.advfn.com/p.php?pid=nmona&cb=1213960104&article=26964606&symbol=N%5EWAVX
I would regard this as more promising if the new shelf is in effect.
Stoc
Size of placement may just be a case of simple math.
If I recall correctly the Shelf filed in April of 07 had $4.4 million left prior to the funding in May of 08. If you total the dollar figure of stock and warrants for the latest 2 palcements it comes very close $4.4 million.
Nothing is available under the new shelf, which has yet to be approved.
Someone else can crunch the numbers and validate or dismiss this theory.
OCBordeaux - as of CES January 2008 Wave software was not bundled with the Maxtor Black Armor drive.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=25840785
Stoc
Tim Russert - What a tremendous loss to journalism and more importantly to humanity. A true example of how to conduct your professional and personal life with honesty, decency and compassion for others. One of the truly "good guys" - he will be missed...
Anyone? Not quite correct........
"As a benifit of this increased level & cost, which anyone it seems can do, is a seat on TCG's BOD."
https://www.trustedcomputinggroup.org/join/levels/
Membership Levels
The TCG offers several levels of membership for corporations, industry organizations, and academic institutions. These include Promoter, Contributor, and Adopter. These three types of membership offer different levels of responsibility and privilege, allowing members to gain the most value from TCG membership. Promoter membership is at the invitation of the TCG Board of Directors. Following is information about the responsibilities and benefits of each of these types of membership. For more information about the TCG organization, please consult the Trusted Computing Group Bylaws.
100th Monkey
Not a bad return on the latest placement shares and warrants in less than 2 weeks.
100th Monkey
Maybe A Small Leak in the News Dike?
Up 19.75% so far the next trading day after a pipe at $.81.
XXX - A very interesting concept!
"I guess I should prepare myself to be once again dissappointed, but to me from a tactical perspective, hiring Taglich was simply a means of providing lowered guidance that may be finally exceeded."
Some perspective then and now
Many of us have been holding on, for what seem to be an eternity, to a fundamental belief in the need for Wave's vision of trust in computing. For many, the financial and emotional toll has been substantial. It's the last leg of a very long marathon with the finish line in sight, but very little gas in the tank. Useless time will be spent with the "why did he say...?", "why didn't he do...?", all that "Woulda Coulda Shoulda stuff. At this point it really doesn't matter. We are where we are.
So where were/are we?
Wave 3rd/4th qtr 1997:
August 26, 1997
Wave Systems Corp. To Present Plans For Maintaining NASDAQ Listing
http://www.unclever.com/wavx/prs/970826nasdaq.htm
October 2, 1997
Wave Systems Corp. Granted Temporary NASDAQ Smallcap Market Listing
http://www.unclever.com/wavx/prs/971002nasdaq.htm
October 27, 1997
Wave Systems Corp. Common Stock To Begin Trading On OTC Bulletin Board Following Removal From NASDAQ Smallcap Market.
http://www.unclever.com/wavx/prs/971027decision.htm
"For the three months ended September 30, 1997, Wave's revenues increased to $4,097...The weighted average number of shares outstanding in the third quarter of 1997 was 21,539,324 compared to 14,613,419 in the year-ago period." (shares not adjusted for 1 for 3 reverse split)
A 47% year over year increase in shares.
http://www.unclever.com/wavx/prs/971124Q3.htm
May 24, 1999
WAVX Begins Trading on NASDAQ
http://www.unclever.com/wavx/prs/990524relisting.htm
Wave's Closing Share Price
August 27, 1997 $2.7189
October 2, 1997 $3.75
October 28, 1997 $2.81
May 28, 1999 $71.82
Florida - Let's hope your crystal ball shows the same accuracy on the ascent.
4/21/2008 "We should hit a low of .60 today." actual .64
Player - Thanks for the catch.
I skimmed the headlines and missed the text of the Feb 7th 8k. Obviously the appeal was referenced to the 2007 end of year revenue figure exceeding $50 million which was "in the bag."
Taxi - As of Friday
OSCI is still trading on the Nasdaq Global Market. Their market cap is $27.53 million and has not been close to the required $50 million since receiving this delisting notification on September 18, 2007. On the surface it appears their may be some time with an appropriate "plan."
http://biz.yahoo.com/e/070919/osci8-k.html
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.
On September 18, 2007, Oscient Pharmaceutical Corporation (the "Company") received a Staff Determination Letter from the NASDAQ Listing Qualification Department indicating that the Company has not regained compliance with the continued listing requirements of The NASDAQ Global Market because the market value of the Company's listed securities has fallen below $50,000,000 for ten consecutive business days (pursuant to Rule 4450(b)(1)(A) of the Nasdaq Marketplace Rules) and that its securities are, therefore, subject to delisting from The NASDAQ Global Market.
Pursuant to NASDAQ rules, the Company plans to request a hearing before a NASDAQ Listing Qualifications Panel. At the hearing, the Company will request continued listing pending completion of its plan to demonstrate compliance. The Company's request for a hearing will stay the delisting of the Company's common stock, and, as a result, the Company's securities will continue to be listed on The NASDAQ Global Market until the Panel issues its decision following the hearing. There can be no assurance that the Panel will, following the hearing, grant the Company's request for continued listing on The NASDAQ Global Market.
The Company's press release dated September 18, 2007 with respect to the notification from NASDAQ described above is attached to this Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
That's interesting. I have been unable to get Vista/FDE Latitudes for my customers. They've all gone with XP to this point. I went a good ways up the food chain past my Dell rep and to upper level support at Wave. I was told on several occassions (as recently as last week) while the ETS (which includes the TDM) claims Vista compatibility the Vista driver was not yet available for the TDM with no time frame for completetion.
Nice to see it arrive before they "sunset" XP. This should boost the revenues.
Now if the bid will close north of .95...
Stoc
Not so. I received an FDE equipped D830 for one of my customers the first week in March. It works as advertised. Wave's setup wizard is easy to follow. Regarding the "Standby - freeze the memory hack" the computer will not go into standby with the drive in the locked mode. If you choose standby it will hibernate. Nice safety feature and the additional boot time from hibernate verses standby is minimal.
Stoc
It will be interesting to see the effort to keep the bid below $1.00 at the close.
cosign - As of yet I haven't had a followup conversation with my Dell sales rep.
Stoc
Dell/FDE Sales
Just ordered a leftover D820 for a client through my small business rep. This is the same rep that didn't have a clue what an FDE drive was when we spoke last August. I have a customer that has been waiting for FDE availability in the small business line. This led to a natural conversation about the popularity of Dell FDE equipped Latitudes.
I inquired as to the popularity of the FDE platform and what sales percentages are we talking about?.
The answer was:
There has been a pent up demand in the small business division and roughly 50% are currently selling with FDE drives. Keep in mind, this is one sales person out of 1000's, but it's probably representative and certainly inline with the significant advertising budget that Dell and Seagate are devoting to this product line. Personally I would guess this to be on the high side at this early stage, but I am repeating what I was told.
I'm sure one of the number crunchers can come up with the yearly Latitude numbers and divide by 2 and multiply by 7.
Stoc
ps I did just contribute ~.50 to the Wave bottom line. LOL
Cooler
I've had my D820 since May of '06 and it came with Wave ESC and ETS. I'm sure you'll be pleased. $599 is a great price on the 820 closeouts. I use my fingerprint reader several times a day and am greated with Dell and Wave on the sign on screen. Shall we say it's way ... cooler!
Stoc
FDE Drives now available in Dell small business category. Actually the category has been changed to Small and Medium business. Offered in 630, 830, ATG630, Precision M4300 and M6300.
http://configure.us.dell.com/dellstore/config.aspx?c=us&cs=04&kc=6W300&l=en&oc=blcwk3h&s=bsd
Order delay indicated on 80gb may be a good sign of high demand. I have at least one customer that will be contributing $7.00 to the Wave bottom line on Monday. She's been patiently waiting for the appearance through small business.
Stoc
More CES 2008
Cliff - the Seagate rep indicated the security/encryption division is Dell/Seagate/Wave (ERAS) networked. I didn't ask for the numbers. I was told that all new computers coming in are Dell FDE's. I would take this to mean that this division has served as the "pilot" for the company for the last 3 months and on a results basis the D/S/W notebooks are being deployed company wide on the upgrade cycle.
Regarding BlackArmor - My understanding was this external drive is set up with Maxtor software providing a simplistic non-networked vanilla password system. I don't believe Wave is currently involved with this product, and as such does not yet offer the extensive command and control functionality as does the onboard FDE drive. However I did get the impression that this may be in the mill.
The opinion offered was that all drives will eventually be FDE's with focus first on the high need security areas: government, financial, health etc. and working it's way down to the consumer. For the relatively small premium who won't want the security of a full performance transparent FDE drive that will protect their "1's and 0's" even if they're not top secret.
I was told there was a contigent from Wave at the Seagate display, however they were not present during my visit (which was around lunch time).
The time I spent with Seagate and the growing collection of targeted high end branding advertising with two of the industry's biggest players make me much more comfortable with - "when not if." Now if we can just keep the Symantec's and McAfee's of the world away long enough to get the share price up significantly...
BlackArmor External Drive
Sony's 4x LCD technology - Simply Stunning!
biospace.com ad THX CSL
CES 2008
Got back eary this AM from CES. I tried to cram 4 days worth of gadget googling into a little over 6 hours. Ahhh so many toys and so little time.
Here's the on topic info:
Dell's presentation was strictly consumer oriented, as in Consumer Electronic Show. There was no evicence of any TPM related equipment nor did the marketing people have any knowledge of such. It was explained that departments of the company are very focused on their own areas and products, and consequently they would have no information on the business/enterprise side.
Seagate was a different matter, they were displaying and promoting their encrypted offerings. As pictured they had an NEC Versa notebook (announced last month) with the Seagate FDE drive and Wave ETS/TDM software. They also were showcasing the new Maxtor BlackArmor 160gb portable external FDE drive $149.00.
Current focus is on the OEM manufactures, the largest of which of course is Dell. Response has been excellent as the product has been shown to various corporate IT focus groups. It is a shift from the traditional software encryption, and as such for the most part, will not be a blanket replacement, but rather will follow the normal notebook upgrade cycle for an existing installed base. This cycle may be accelerated depending on the need to strengthen security.
The Dell/Seagate/Wave networked combination (including ERAS)is being used internally, and from the individuals perspective I spoke with, has been transparent and trouble free.
I asked about the future of software verses hardware encryption. As has been previously mentioned, software encryption will probably follow the path of the horse and buggy. When a direct comparison is made, software holds little if any advantage.
I asked if there was any potential downside to this new technology. Of all the positives, there was only one. If you loose the "key" the ball game is over. There is no alternate path of recovery, period. This factor will result in the development of a significant "key management" industry. This is where the current software encryption providers will most likely migrate. Of course Wave is already there, and has a tremendous lead (first mover advantage) in not only a key mangement system but a truly integrated interoperable trusted package from the ground up.
I suspect this is why Seagate and Dell have been working with Wave for more than three years and have decided it is "best of breed."
Gotta run for now. I'll post more later.
Stoc
Ispro
Good memory. Some of "The Crowd" still probably believes the earth is flat.
Time permitting, I'll be going to CES next month to view the offerings. However, since the "C" in CES is consumer and the "E" isn't enterprise I don't expect to see much.
Yet...
Stoc
A Christmas Present to all, and to all a good night! THX CS
Parallels?
http://www.thequalcommequation.com/lessons.shtml
What Lessons Can Your Company Take From Qualcomm?
Everybody is looking for the next Qualcomm, and a significant contingent of young companies operating today want to be the next Qualcomm. Yet, the means by which a team of brilliant engineers in San Diego overcame significant handicaps to revolutionize the mobile communications industry remains a mystery to many. The enigmatic company and entrepreneurs who founded it hold many qualities that everyone from CEOs to entry level engineers can learn from.
If your company is aspiring to emulate the qualities of a world-class organization, consider a few of the key aspects that were integral to Qualcomm's success:
1) Look for areas of big change
When selecting market segments to pursue, Qualcomm passed over areas of incremental innovation - they looked for sectors where their core competencies and intellectual talent could revolutionize a market. While somewhat routine projects were certainly taken to pay the rent and the salaries, the key visionaries in the company remained unburdened by more mundane efforts to keep them free to skirt the bleeding edge. Let your big hitters swing for the fences.
2) Apply unconventional thinking
Irwin Jacobs is noted for being a non-conformist when it comes to problem solving - the academic environment in Qualcomm encouraged free thinking and problems were continually revisited. A common fallacy is the belief that PhDs and eccentric thinkers tackle massive problems with highly sophisticated and intricate solutions. A significant element of Qualcomm's success is in the elegance and simplicity of many of their solutions to complex problems. Ask lots of questions, even when you've already been given answers.
3) There's more to IP than patents
If you want to run a licensing business, intellectual property goes far beyond a patent. Qualcomm was already locking in some of their most lucrative licensing agreements when scarcely a single related patent was even issued to the company. Qualcomm licensed their know-how and ability to do what no one else could - they didn't just demand payment for use of their ideas. Companies aspiring to develop a long-term revenue source from their intellectual property should do so from a value-add standpoint, where you offer more than just the idea on paper. Your IP has to make your licensee a winner too.
4) Relish the role of the underdog
Qualcomm was dismissed upon their entry in the cellular industry. In fact, the company is still dismissed by many today. A team of innovators that worked primarily in military and space applications were out of place in the cellular market. The fact that few took them seriously gave Qualcomm an enormous advantage in sewing up a huge lead by the time customers began buying. Many young companies are not settled with being insignificant and rush their way into the limelight. Use this critical time to cement leverage for the future - be patient.
5) Inspiration beats paid labor any day
The vast majority of Qualcomm's early employees worked at the company because they had a passion for the work and the people - not the paycheck. Many took reduced pay and gave up more stable jobs just to stay involved with visionaries such as Irwin Jacobs and Andy Viterbi. When it really counted, an emboldened employee core could be counted on to give 200% - not just overtime. Every company has an employee base mixed with those that just show up and those that drive the company. Make sure the key, core base of employees share a common passion to guarantee the company will succeed - with or without all the rest.
There are certainly many other aspects of Qualcomm's business that make the company so successful, and no single trait or behavior can be extracted and enacted with expectations for a similar result. But entrepreneurs and all levels of business leaders can glean powerful insight from the atypical approach that Qualcomm took to rising above the crowd in many aspects of their business.
"Qualcomm's stock had shot up more than 25-fold within a single year,"
Current market cap = 69.31 billion
Intel Logo aside, it was an excellent and understandable presentation of the problem and the most cost and performance effective solution. There can be little to no doubt that this will be a very popular choice for a large number of institutions and eventually individuals. For those that haven't yet invested the few minutes to watch, I would recommend you do.
Stoc
NBC Dateline! - ON now - an excellent show on the explosion of ID theft. Computers are hacked, laptops are lost, data is exposed, bank accounts are drained, credit cards are charged. How bad does it have to get before "they" get it?
TPM/Wave - ya think?
RobertI - Excellent post. Exactly as presented./e
Snackman - It might be time to check the prescription on the old reading glasses. I wasn't "knocking" anyone, but rather providing a reasonable justification to those who had questioned the validity of the "numbers" referred to in the recent quote from Cahalin.
Additionally, I just got back from the airport and agree with the reports thus far from the SHM. This is number 5 or 6 for me (I've lost count), and I have never come away with a more positive feeling. The explanation for the timing and the size of the recent funding was understandable. Wave has greatly increased it's presence in the product lines of many of the major players. If indeed Wave software is the "juice" that makes it all work, you can understand why some might want financial evidence of sustainability for more than a quarter at a time.
I was most impressed with Steven's answer regarding software encryption and possible competition from companies such as Secude getting into the "TPM Business."
Thus far the lack of "TPM revenue" has left others disinterested. Wave has spent a considerable amount of time and money positioning the company with products and partnerships that are not easily replaced. Wave has shipped over 10 million copies of their interoperable software in the last year and is currently shipping more than a million copies per month. Wave is included on every Dell and Gateway enterprise computer and Intel motherboard with a TPM. Wave software ships with 4 out of 5 TPM manufactures. Wave is soon to ship with a number of Seagate FDE drives providing secure remote policy management, repurposing and encryption audit verification. Wave will soon release to market (probably with Windows Server 2008) end point enforcement working in conjunction with network authentication and access control. And guess what - it all operates from a common interface and is, here's that word again, "interoperable." Wave has a tremendous first mover advantage. As long as Wave doesn't "screw up," it would seem unlikely that someone could build a sufficiently better mouse trap that would convince the Dell's and Seagate's of the world to change partners midstream.
The Trusted Computing Group standards have been anointed by Mr. Softie, Juniper and Intel. Steven said - when the TCG says "we need this functionality," Wave raises its hand and says "hey we'll do it."
If indeed, as per SKS, there is a Gold Rush a comin' Wave has certainly staked out a lot of claims.
ps The Dell Latitude/Seagate FDE/Wave TDM preview was most impressive and will be playing at a theater near you very shortly. It could well be the block buster hit of the summer!
Nite All
Stoc
Facts and reasonable assumptions
Facts:
1700 total computers
65 TPM equipped when first announced
Reasonable Assumptions:
Desktops and laptops are replaced on an upgrade cycle
Current figure possibly double the original figure, say 130.
"So far the total cost is $6,900; the estimated savings is $22,000."
At $130/upgrade the cost is $53 each.(right in line)
Savings is $170 per upgraded unit.
Probably higher than the 130 number but highly unlikely the entire 1700 units. PG's may have gotten a bit of a break for being a launch customer. Who know's.
I don't have a problem with this particular statement or the math, but I do reserve the right...
Gotta catch a plane to NYC
Stoc
Ameritrade - You can get the proxy control number(s) from the Reorganization and Safe Keeping Department.
Stoc
Snackman - when you reinstate the survey, how about extending the ownership totals incrementally beyond 100k to say 500K.
>100K - 200K
>200K - 300K
>300K - 400K
>400K - 500K
>500K (you never know)
Evidently there are some shareholders that will fit the expanded categories.
Stoc