Wave Systems Corp. (fka WAVXQ)

[RootOfTrust]

It's our belief DB is one the prospects from earlier this year and that they successfully POC'ed the portfolio of Wave TPM/SED/Bitlocker solutions forming the basis for the tender specs. Therefore DB has been in the pipeline a long time, with a tender process that is expected to post an award in about 30 days. Also, the (large) prospects talked about earlier in the year were at the end of the VSC 2.0 sales cycle as few as 6-8 mo. after the product launch? Highly unlikely given some of them like DB only entered the pipeline earlier this year. As you and I have discussed, large enterprise sales cycles can go 18 mo. or longer, therefore large VSC prospects that came in shortly after or even before the July 2014 product launch could still be going. I would say DB has been in close to 12 mo.