Wave Systems Corp. (fka WAVXQ)

[rachelelise]

Cosign

In the call, SKS said no deals have been signed although they continue to talk with prospective customers.

NTT is a good example of why it is not possible to predict how and when relationships pan out. Obviously in the past, they essentially never seemed to translate into anything material and it continues to surprise me. I realize some of these strategic relationships are not much in reality but in many cases companies spend a great deal of time getting to know each other and working through protocols before they ever say anything in public. And they usually do it because they feel it makes business sense and there are opportunities. My take is that the Wave story is quite enticing on paper but that the marketplace just hasn't bought in (yet). Thus these co-marketing deals don't turn into revenue and ultimately they end or at least go into hibernation.

That doesn't mean that is the fate of NTT since that represents a huge slice of Japan and there are related events occurring around the TPMs - but it does say that our perspective on market readiness for action continues to be too optimistic so far. Will that change? Hopefully maybe even tomorrow??