Wave Systems Corp. (fka WAVXQ)

[scorpio_esq]

i respect your opinion, but i think you are missing my point. You are doing exactly the kind of bean counting that i was trying to look beyond. Let me try to say it another way: Wave is on the verge of a revolutionary change in the way content distribution is monetized, quite apart from the enterprise-generated upgrade business, which will happen according to its own intrinsic pace. However, above and beyond enterprise upgrades, there is a deluge of premium content waiting to be sold, which only now can be sold, because of the developing ubiquity of TPM deployment. Marketing guys can understand what happened to the automobile industry when the automatic transmission became a commonplace feature... it changed all provious assumptions about market demand and potential market penetration, and it changed the revenue metrics by stimulating constrained demand that most observers did not realize was there. The TPM is analogous to the automatic transmission. So, you are indeed correct about enterprise upgrades, but in being correct, you have completely missed my point. That gap in communication evident here reminds me of my favorite oxymoron: 'visionary accountant'.