Wave Systems Corp. (fka WAVXQ)

[aleajactaest]

hi dig,

the thing i am curious about is embedded income. low price but high volume.

right now, embedded income is the bedrock of wave's inflows. it is fairly predictable. it rewards development work.

i am wondering if solms is looking to expand it some.

or alternatively, if he is able to release all of these oem prs because he is giving away wave's development free of charge in the hopes of getting other opportunities later.

it seems to me this is the most important variable for wave's cash flow in the near term. is the dilution going to be significant going forward? or will it dissipate?

your dell vs hp model is the near term issue likely to make the most difference. unless, of course, some huge order descends along the lines of gm. but those sorts of things aren't worth thinking about as they are completely ad hoc.