Hey Dig, you ask "You are indicating non-Dell billings, so presumably it is in there, or you are assuming Dells revs are from current billings, I don't know which." As I recall Dell's billings are always a month behind. So Q3 Dell's billings would include June, July & Aug - not Sept. You state "I don't know what component of Dell is e.g. realizing defrevs." I don't know either but assume it's all just the bundle and therefore doesn't go Def Rev and thus all "current billings." I expect Q3 revenues to include a recognition of ~$1.65M from def rev. & LTDF. Therefore my hopefull Q3 rev would be the $4.5 in new billings + the $1.65M for def ref or $6.15M. A while back you asked what is fueling the contributions to def rev. as they continue to remain simingly high. I spectulated renewed maintenance licenses (1 yr renewal to dev rev recognized over 4 Qs & 3 yr renewals over 12 Qs). I still think that is the case. If so that amounts to a large part of Wave's ongoing but insufficient revenue. Thx as always.
