Wave Systems Corp. (fka WAVXQ)

[Snackman]

to all

Please read again. You either believe him or you don't. I do.

Snackman
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From: "Steven Sprague" <[e-mail]>
To: Subject: Re: status
Date: Tue, 22 Jul 2003 08:52:48 -0400



I thinkyou have summed it up very well, The only part is there is no conspiracy theory. As a public company strategic investment is much harder and always has been. We have access to capital and we are leveraging a couple of Wave assets to help cover our cash needs. It is and has been tight but we are doing our best with what we are given to build share holder value. The market ahead of us is tremendous the trick is to get there with out significant dilution so that we can all enjoy the benefits. Wave is engaged on a number of fronts and the progress is very tangable.

Steven