Wave Systems Corp. (fka WAVXQ)

[dig space]

alea, it seems to me that all that is being revealed is that

1. they plan to sell a significant amount of what they do have within the next year, and on that the price model is pretty well established

2. they plan to begin to sell things later that are comparatively new on which they are giving no indications of a pricing model

3. they plan to bolster their Dell-like relationships with other OEMs ... but so far it looks more HP-like

It seems they likely have the cash to get through the cy, more or less, and that pretty much would exhaust the 1/3rd rule in any event , so for the most part it is basically a "trust me" situation, one that has been the case ever since a number of bean counters pointed to the divergence of revenue and expenses that was so stunningly and willfully run off a cliff.

I think the lack of clarity speaks towards what is, their back is to the wall and they must land some big deals in the cy of which the revenue structure is pretty well understood, and the rest is simply too vague for current speculation both in timing and in structure.

It is just not an investment grade sandbox right now and I can't see that it will be for some time.

On the flip side, yesterday's activity gave some indication of just how crazy this low float low mktcap thingy can get were they to actually serve meat.

for some time I've felt folks who say this thing could 5 or 10 bag in a week were stuck in 15 y.o bubble fantasies, but yesterday gives pause.

I have to rethink this equity.