Wave Systems Corp. (fka WAVXQ)

[RootOfTrust]

tkc, we do need follow-on large PO's in Q2, however having noted that the $2.3m billing obviously constitutes a significant step up from Q4 in cash flow and just in time for Dell being zero or close to it in Q1. Not exactly a bleak picture as some claim including your estimated cash balance entering Q2. Again, Q2 follow-on orders are required and from the sounds of the CC it's possible. Not Sprague-speak imo. The $2.3m order lends credibility to previous statements on the pipeline.