I found this -
Ronald P. Ouimet 1
27 Doe Drive
Eliot, ME 03903
207-730-1048
March 26, 2016
RE: Wave Systems Lawsuit- Synopsis of one partnership (the Micron deal)
Robert and Bill;
On October 28, 2014, Micron Technology, Wave Systems, Lenovo, and American Megatrends (AMI) Inc. announce a partnership to create New Industry Standard to meet global security requirements. The four companies will strengthen CRTM for the enterprise supply chain. They will develop advanced enterprise class security for governments and businesses. They will offer best in class protection against pre-boot threats within the supply chain.
The “Wave Endpoint Monitor (WEM) is used to protect the “core root of trust for measurement” (CRTM) at the pre-boot level of operation within a device. Note; the partnership was formed because these large tech companies needed Wave’s pre-boot technology in WEM.
The partnership enables Micron, Lenovo, and AMI to have direct access to Wave’s security portfolio. They will be able to control, measure and report the activity in the Bios level of a device. The Bios filters everything that enters a computer. WEM is the only security tool known to stop cyber-attacks at the Bios pre-boot level. It enables pre-boot authentication. The authentication process is completed before the operating system starts.
“To this end, Micron engineers work daily with the major software vendors in the field. In particular, we have a very close engineering relationship with Wave Systems.” Stated by Micron.
On February 24, 2015, Micron announced “they were ready.” Micron’s SSD is ready to go with Windows 10.
At the shareholder’s meeting in June 2014, CEO Solms said phase two with the Micron Partnership would bring significant revenues to Wave. The whisper number was 5 million dollars up front. CEO Solms then confirms months later that phase two with Micron was achieved. He soon after tweeted pictures with the Lenovo partners and commented they had a “great meeting.” We have yet to see any revenues from Micron, AMI, or Lenovo. Shareholders were told at the June 2015 meeting that Wave was “negotiating right now” with Micron for a final contract. Micron was going to pay Wave upfront for engineering and R & D. To our knowledge Wave Systems never signed a contract or received three million dollars for engineering fees.
A shareholder, named Larry Gordon, said that he spoke with a board member who was leaving the board this year. The board member is Mr. Bushnell. This conversation took place May 16, 2015, eight months prior to Chapter 7. Mr. Bushnell told Larry Gordon that the Micron initiative would put Wave on the map and the project was guarded by strict NDA’s. He stated only $300,000 of the 3 million dollars in engineering fees had been expended. Larry Gordon was
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told that the Micron deal could integrate Wave’s security tools with millions of devices and was described as having the long term growth and potential success similar to the dominance of Qualcomm. The Qualcomm stock had eleven forward splits in the first two years.
Larry was also told that the Wave Endpoint Monitor was being fully integrated with the Micron-Wave offering (see the email to shareholders from Larry Gordon in packet that I am sending you).
We did not receive $3 million for engineering nor did we ever receive a contract. Yet our technology has been integrated into a very important International Standard. The Micron-Wave project to secure the 3D flash memory was supposed to be out in the second half of 2015. It was said that the Singapore fabrication center would begin production. Then there was collaboration between Intel and Micron to move production to a more secure facility in Utah. There it could be protected by the US military as a trusted fabrication center for the DOD and US government.
Micron, AMI and Lenovo partnered with Wave for one reason; Wave Endpoint Monitor. WEM stops what is called Advance Persistent threats (APT). It accomplishes total security against APT before the device is turned on. If there is a threat WEM within a self-encrypted drive device, WEM will automatically self-heal the system. If Wave is used in the 3D flash memory drive with Micron or Intel the device is said to be 1,000% faster than traditional hard drives.
No promised contract, no royalties, no communications. If a contract between Wave Systems and Micron to form an international standard was announced we would not be in Chapter 7. The stock would have gone up to $20 per share.
Note; Again, why didn’t Micron buy Wave Systems for a measly $6 million when that was our market value for the last three or four months. They could have owned our tech for pennies, in particular WEM the cornerstone of the international standard.
Perhaps behind the curtain it was always hands off Wave Systems.
The next partnership synopsis I send to you will be on Nation z
AI
